Paytm Now Ready for your Hotel Booking, ₹ 500 Crores Investment
Paytm Hotels Booking
Now, customers will be able to plan their own travel plans at Paytm only.Paytm said in a statement that it has acquired Night stay, a luxury hotel-booking platform that offers deals on last-minute bookings, for an undisclosed amount.Paytm Company has built 5000 hotels across the country, 50 thousand subscribers can book every year, Hotels will be typed from hotels around 1 year in the next one year.This acquisition will help Paytm leverage Nightstay’s acumen to further expand its portfolio in this vertical.
Paytm Travel, started in 2014, sells over 60 million tickets a year, and has become the leading player for IRCTC tickets, bus tickets, and flight bookings. Earlier this year, Paytm Travel also started offering foreign exchange bookings for international travelers.The mobile wallet company Petytm has started hotel booking service at home. For this, he will invest Rs 500 crore on operational growth. In a release, the company said that it has collaborated more than 5,000 hotels of different budget, luxury and business category on its platform. This will allow customers to book 50,000 rooms on a daily basis.
Paytm Company Thoughts
Madhur Deora, chief financial officer of One97 Communications, a company that operates the brand, said, “Launch of domestic hotel booking after rail, bus and airline booking is an important step in this direction. This will help the customers to make and make their full travel plans at Paytm across the country.
The company has also announced to invest Rs 500 crore on operational growth and expansion of portfolio. Its plan is to expand its service by 2020 to book more than 20 million hotels and stay locations around the world. The company is already booking services on the same platform of bus, aircraft and train tickets etc.The E-Commerce portal is also planning to offer rewards & delightful experience to its customers.