Online travel company, Yatra Online has tied up with Budget hotel aggregator OYO to bring the hospitality firm’s inventory on its platform.
The partnership brings OYO’s inventory onto an online travel agent platform and with this, Yatra’s total hotel inventory will expand to over 70,000 hotels in India.
Yatra.com co-founder and CEO Dhruv Shringi said, “We, as a company, are focused on being innovative and providing a differentiated experience to our customers.”
The company’s partnership with OYO enables it to deliver a unique proposition to the customers allowing them to choose from a variety of travel and accommodation options in India, he added.
Founded in 2006 by Dhruv Shringi, Manish Amin, and Sabina Chopra, Nasdaq-listed Yatra provides information, pricing and booking capability for domestic and international air travel, hotel bookings, holiday packages, and bus and railway reservations.
The Gurugram-based company, has raised Rs 100 crore in debt funding from Singapore’s Temasek-backed InnoVen Capital.
On the other side, OYO founder and CEO Ritesh Agarwal said that through this partnership, OYO’s quality-assured hassle-free offerings will be accessible to millions of discerning travelers who book on Yatra.com.
The Gurugram-headquartered company has secured an investment of $250 million from Softbank Vision Fund and Hero Enterprise within a week when it raised $10 million from multi-billion dollar hotel management firm China Lodging.
Presently, OYO, claims to operate 8,500 hotels and 70,000 rooms in more than 230 cities in India. Launched in 2013 by Ritesh Agarwal, OYO so far has secured about $442 mn.
According to a report by KPMG, the hospitality sector in India is expected to grow at 16.1 per cent CAGR to reach Rs 2,796.9 thousand crores in 2022. With a consistently growing middle class and increasing disposable income, the tourism and hospitality sector is witnessing a healthy growth and accounts for 7.5 per cent of the country’s GDP.