Popular Indian digital wallet Paytm has added the facility to book hotels, as the company has now acquired hotel-booking service NightStay in India.
Paytm has acquired NightStay for INR 142 crores and plans to further invest another INR 500 crores to enhance its operations.
With an aim to compete with the established hotel booking services in India such as OYO Rooms, MakeMyTrip, Yatra, etc, Paytm will allow users to book hotels across 5,000 hotel options with ease.
The hotel partners include Sarovar, VResorts, Sterling, Ginger and more. Users will be able to conduct hotel bookings in 12 cities in India as of now, namely Mumbai, Goa, Agra, Bangalore, Chennai, Delhi, Hyderabad, and Jaipur, among others.
Additionally, Paytm plans to acquire more hotel-booking services by 2020 to become one of the leading hotel-booking services in Asia. The new hotel-booking feature will currently be handled by NightStay founder Nasr Khan at Paytm.
For those who don’t know, Paytm already can book tickets for railways, flights, buses, and even events, apart from just conducting recharges for various services or transaction of funds. Recently, Paytm collaborated with popular food delivery service Zomato for food deliveries in Delhi, India.