PayTm is heading towards hotel booking on its platform or app, relentlessly with new business growth strategy along with PayTm Mall. PayTm has joined hands with more than 5000 hotels expanding its business in travel operations. Top hotels partner chains include Sterling, Vresorts, Ginger, Zuri equivalently aims to partner with top luxurious hotels globally up to 2 million.
PayTm plans to invest about 500 crores in order to develop the structure of travel operations. The company looks forward to owning partnership to a large number of hotels and become one of Asia’s top hotel booking destination by they reach 2020.
Financial investors of this company are Titan, Alibaba, Warren Buffett an American Ace and Japanese investment behemoth Softbank that has cooperated in business growth. Comparing with the selling of parent firm, in 3-4 % of a stake, One97 Communication was sold at of $300 million the business growth strategy shows PayTm Mall in 2018 had raised value was $10 billion.
Founder Vijay Shekhar Sharma said that PayTm Mall is entirely a market place, not an inventory. PayTm wallet entered the travel business in 2014 by selling tickets for railways, buses and air tickets showing a business growth into travel operations, as mentioned on The Economic Times. PayTm has acquired the luxury hotel booking platform known as NightStay for about 142 crores.
According to a previous report on The Economic Times, the company is not moving to B2B while making better business growth strategy in B2C as there is a huge opportunity in B2C along with the aggregated favorable customers. Sharma said his company did ask certain sellers of some categories to list their products on the wholesale site as well. “But that doesn’t mean we are pivoting from B2C,” he said in a telephonic interview. Relating B2C with the PayTm travel programs, they aim to access customers to book more than 50,000 rooms per night in hotel booking category. Hotel booking services will be forefronted by Nightstay Founder Nasr Khan.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]