The hospitality company, OYO Hotels and Homes and the Indian travel company, MakeMyTrip have reaffirmed their concord for the next five years, as reported by the Indian daily news, The Economic Times.
Currently, OYO is backed by Softbank while Nasdaq upholds MakeMyTrip. MakeMyTrip was commenced in 2000 and caters online travel services such as domestic holiday packages, international holiday packages, booking air flight tickets and booking hotels. Alternatively, OYO Rooms has presently become the nations largest hospitality firm. The company was initiated in 2013 and since then, it has tremendously outgrown. Currently, it renders its services in 337 cities all over the world, including India, UAE, China, Malaysia and Nepal.
The commercial agreement between both these companies (OYO and MakeMyTrip) was primarily released in February last year.
The present deal has ruled out adversaries of OYO that are, Treebo Hotels-financed by SAIF Partners and Fab Hotels- financed by Accel India, from the hospitality companys primary platforms, as per the anonymous sources of the Indian daily news, The Economic Times.
Both the companies continue to explore newer avenues to work together towards our common mission of creating and delivering great quality experiences to travellers from around the world, said the spokesperson of OYO.