India: Paytm forays into hotel booking with Nightstay acquisition

India: Paytm forays into hotel booking with Nightstay acquisition

Photo: Reuters

Digital payments company Paytm on Tuesday announced the acquisition of Delhi-based hotel booking platform Nightstay for an undisclosed amount, foraying into the crowded hospitality segment.

Paytm (run by One 97 Communications Pvt Ltd) has earmarked500 crore to invest in scaling operations in the hotel business and will look at expanding it’s travel services portfolio, according to a company statement.

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