Branded budget hotel rooms aggregator OYO Rooms has partnered with PayPal to enable payments from international customers on its platform, reports NextBigWhat. The tie-up will also help Indian customers make booking in OYO’s global location such as Malaysia.
Adding an international playment gateway is a good move by OYO as it will make it easier for customers to make international payments, which becomes more relevant as OYO expands to countries outside India. The company had expanded to Malaysia in January this year, when it said that it would look to other countries in Southeast Asia, South America and Africa.
Zo Rooms acquisition: Last month, OYO acquired its rival Zo Rooms for an undisclosed amount. The acquisition was an asset sale which would give Zo Rooms seven founders and Tiger Global a 7% stake in OYO Rooms. The founders of Zo Rooms would exit the company and about 40% of the team would be acquired by OYO Rooms. However, a recent Times of India report suggests that the deal might not go through.
Delisted from online travel agents: In November 2015, online travel agencies (OTAs) like MakeMyTrip and Yatra decided to delist budget hotel aggregators Oyo and Zo Rooms from its platforms. At that time, Kavikrut, Chief Growth Officer of OYO Rooms said that only 10-15% of its users came from OTAs and that most of its user base came via its app, website and helpline.
OYO Rooms funding: In August 2015, OYO Rooms raised $100 million in a funding round led by SoftBank group and participation from existing investors Greenoaks Capital, Sequoia Capital and Lightspeed India. OYO Rooms operated as Oravel.com and pivoted its business from an Air BnB clone following operational issues.Founded in 2012, Oravel allowed users to search for short stay rooms and apartments.
– Last month, IRCTC tied up with OYO Rooms to launch an IRCTC hotel-booking page on OYO Rooms, offering its inventory to train travellers.
– In November last year, OYO Rooms piloted OYO Cafe, an aggregator platform which would list its hotels’ food items to be sold under the Oyo Cafe brand. Oyo Cafe would make use of excess hotel inventory, and also possible use Zomato or Swiggy to deliver the food.
– The same month, OYO and Airtel signed an agreement to provide internet connectivity and and direct-to-home services to more than 3,000 OYO rooms.
– In September, the company launched a women-exclusive brand called OYO WE with all women staff and facilities curtailed to suit women-specific needs, since women travelers made up for up to 40% of its total customers.