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Nearly two years after it had delisted Oyo from its platform, MakeMyTrip on Monday announced that it will again list Oyo's properties as Oyo transitions from being a hotel aggregator to a full scale hospitality firm.
"There has been a massive surge in budget hotels category igniting the growth in the hospitality sector and we are excited to join hands with Oyo and build synergies in the fragmented hotels segment to serve this very promising market. We believe this partnership will help serve our customers by giving an even wider spread of quality hotels to choose from and drive growth in online booking of hotels," said Ritwik Khare, chief business officer, hotel and accomodations, MakeMyTrip.
Online travel agencies MakeMyTrip, GoIbibo and Yatra had delisted Oyo and rival Zo Rooms from its platform citing conflict of interest. The companies had also launched their budget hotel segments. MakeMyTrip had launched a segment called Value+ while Goibibo started goStayS
In 2016, the travel industry saw a massive consolidation wherein MakeMyTrip acquired GoIbibo. This was regarded to be one of the largest deal in the Indian online travel aggregation space estimated to be of around USD 600 million to USD 700 million.
"Being a full stack hospitality tech company, we have built capabilities to run quality-ensured accommodations across different formats and placing them in the hands of travelers who are constantly on the lookout for unique experiences. We are excited to extend our offerings of beautiful living spaces to them through MakeMyTrip and Goibibo," said Ritesh Agarwal, founder and CEO, Oyo.
Oyo that earlier used to aggregate select rooms across hotels had by then already moved 80 percent of its revenue from exclusive properties -- either leased by Oyo or run on a revenue share arrangements.
Oyo is currently present across India, Malaysia and Nepal.
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