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BENGALURU: After e-commerce, movie tickets and bus tickets, Paytm is adding hotel bookings to its platform. The Noida-based mobile wallet has tied up with hotel booking aggregators like Goibibo, Yatra, RoomsTonite, Ezeego1 and others to offer more than 35,000 rooms across various categories.
For hotels, Paytm has built a market place platform where hoteliers can list and sell according to a dynamic pricing strategy based on their inventory. Paytm founder Vijay Shekhar Sharma noted that even during the peak season, the occupancy of Indian hotels was only around 80%. He said Paytm's focus would be to build trust.
"The aggregators have so far failed to earn the trust of consumers. While majority of the travellers search online for hotels, less than 30% of them finally end up booking online. That's because the consumers know that there is a good chance they will get better rates offline," he said.
Paytm, he said, would introduce anytime check-in and check-out at the same price point, and if the customer is not happy with his/her experience, the company would refund the full amount.
Players like Goibibo have opened up their application programming interface (API) to others to bring incremental demand. "The whole world is moving towards an open API regime and one more partnership will enhance our distribution and create more demand for our hotel partners," said Ashish Kashyap, founder & CEO of Ibibo Group, which owns Goibibo and redBus.
Paytm is also starting a new service 'Fastest Expert Delivery' that will ensure that products are delivered within two hours from receiving the orders from customers. It is planning to make an initial investment of Rs 100 crore to start the service and expecting to garner an additional revenue of Rs 4,000 crore in next one year from this platform.
Paytm to have hotel bookings - Times of India
For hotels, Paytm has built a market place platform where hoteliers can list and sell according to a dynamic pricing strategy based on their inventory. Paytm founder Vijay Shekhar Sharma noted that even during the peak season, the occupancy of Indian hotels was only around 80%. He said Paytm's focus would be to build trust.
"The aggregators have so far failed to earn the trust of consumers. While majority of the travellers search online for hotels, less than 30% of them finally end up booking online. That's because the consumers know that there is a good chance they will get better rates offline," he said.
Paytm, he said, would introduce anytime check-in and check-out at the same price point, and if the customer is not happy with his/her experience, the company would refund the full amount.
Players like Goibibo have opened up their application programming interface (API) to others to bring incremental demand. "The whole world is moving towards an open API regime and one more partnership will enhance our distribution and create more demand for our hotel partners," said Ashish Kashyap, founder & CEO of Ibibo Group, which owns Goibibo and redBus.
Paytm is also starting a new service 'Fastest Expert Delivery' that will ensure that products are delivered within two hours from receiving the orders from customers. It is planning to make an initial investment of Rs 100 crore to start the service and expecting to garner an additional revenue of Rs 4,000 crore in next one year from this platform.
Paytm to have hotel bookings - Times of India
