The Alibaba backed company Paytm has announced the launch of its new segment of Hotel Booking in collaboration with travel partners like Yatra, Goibibo, Ezeego1 and Via.
Paytm founder and CEO Vijay Shekhar Sharma said “Travel has emerged as a very important category for us as the penetration of online booking is still very low in this vertical. The opportunity for the hotels category is immense, especially because the transaction penetration is still low in Tier II and III cities as far as travel concerned.”
Earlier the platform facilitates users with the facility of bus ticket booking and now it has started booking of the hotels to the customers and with the introduction of the new segment the company, the company is expecting revenue of INR500 crore over the next six months.
“In the first phase we have partnered online travel portals like Goibibo, Ezeego1, TSI Yatra, Via for domestic hotel booking,” Sharma said.
In phase 2, the plan is to offer international hotels by tying up with leading platforms like Expedia and Booking.com, Sharma added. In the first phase, Paytm will offer an inventory of about 20,000 hotels to users and the number is expected to go up to 35,000 in a short time after launch.
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