OYO merging its hotel & rental apartment businesses in Japan 'to cut costs'

Hospitality unicorn OYO is merging its Japanese hotel business and rental apartment division 'OYO Life' into one entity, named "OYO Japan". A spokesperson confirmed the move, saying that both the businesses are "complementary" and that the move is along the lines of its global operations. Reports earlier said OYO was reducing the headcount at its Japanese hotel operations by 450.