Yatra partners with OYO
Gurugram/New York, October 2nd, 2017
Yatra Online, Inc. (NASDAQ: YTRA, OTCQX: YTROF), one of India's leading online travel company, today announced their partnership with OYO , India's largest hospitality company. This partnership brings OYO's inventory for the first time onto a leading online travel agent platform. With this association, Yatra's total hotel inventory will further expand to over 70,000 hotels in India, well ahead of its peers, adding momentum to its rapidly growing footprint, especially in the budget hotel category.
Continuing to deliver on its promise of being "India's travel planner", Yatra will now offer its customers an unparalleled pool of accommodation options to choose from. Travelers can book OYO hotels on Yatra's platform, make changes to their reservations and reach out to Yatra's customer service if required. Yatra continues to expand its reach in tier II & III markets in India, and this partnership with OYO will further strengthen its position in these markets.
Mr. Dhruv Shringi, Co-founder & CEO, Yatra.com, said, "Customer needs and preferences are constantly evolving. They seek newer and more interesting ways to make their travel bookings seamless and cost effective. We, as a company, are focussed on being innovative and providing a differentiated experience to our customers. Our partnership with OYO is a firm step in that direction and enables us to deliver a unique proposition to our customers allowing them to choose from an unmatched variety of travel and accommodation options in India."
Mr. Ritesh Agarwal - Founder & CEO, OYO said, "Through this partnership, OYO's quality-assured hassle-free offerings will be accessible to millions of discerning travellers who book on Yatra.com. We welcome them to avail our economy and mid-market offerings that deliver the right balance of price, location and quality. Our mission is to bring high-quality living spaces to all Indians and this alliance will help us penetrate deeper into emerging travel markets."
With the goal to be 'India's travel planner', Yatra.com has been providing a 'best in class' customer experience. With this partnership, Yatra further enhances its lead as the largest aggregator of domestic hotels in India with over 70,000 accommodation options and the biggest homestay aggregator with over 3000 homestays across 130 cities within India.
About Yatra Online, Inc and Yatra Online Pvt Ltd
Yatra Online, Inc is the parent company of Yatra Online Pvt Ltd which is based in Gurugram, India and is one of India's leading online travel companies and operates the website Yatra.com. The company provides information, pricing, availability, and booking facility for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in city activities, inter-city and point-to-point cabs, homestays and cruises. As a leading platform of accommodation options, Yatra provides real-time bookings for more than 70,000 hotels in India and over 500,000 hotels around the world.
Customers can access Yatra in multiple ways: through a user-friendly website, mobile optimised WAP site and applications, a multi-lingual call centre, a countrywide network of Holiday Lounges and Yatra Travel Express stores.
Launched in August 2006, Yatra was ranked the Most Trusted e-Commerce Travel Brand in India in the Economic Times Brand Equity Survey 2016 for the second successive year, and has won the National Tourism Award for 'Best Domestic Tour Operator (Rest of India)' at the India Tourism Awards held in September 2017 for the third time in a row.
About OYO OYO is India's largest hospitality company operating in more than 230 cities across India, Malaysia and Nepal. These include major metros, regional business hubs, top leisure destinations as well as pilgrimage towns. OYO was recently chosen as India's Most Promising Hotel Network (HolidayIQ Better Holiday Awards 2017). It was also recognized by Business Today as among the Coolest Startups in India (2016) and ranked by LinkedIn as one of the top employee attractors in India two years in a row (2016 and 2017). OYO is backed by leading investors, including the SoftBank Group, Greenoak Capital, Sequoia India, Lightspeed India, Hero Enterprise and China Lodging Group.
For more information, log on to: https://www.oyorooms.com
Safe Harbor Statement:
This press release contains certain statements concerning the Company's future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company's current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "should" and similar expressions. Such statements include, among other things, management's beliefs as well as our strategic and operational plans. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the slow-down of economic growth in India and the global economic downturn, general declines or disruptions in the travel industry, volatility in the trading price of our shares, our reliance on our relationships with travel suppliers and strategic alliances, failure to further increase our brand recognition to obtain new business partners and consumers, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in India and overseas, failure to successfully develop our corporate travel business, damage to or failure of our infrastructure and technology, loss of services of our key executives, and inflation in India and in other countries. These and other factors are discussed in our reports filed with the U.S. Securities and Exchange Commission. All information provided in this press release is provided as of the date of issuance of this press release, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For further information, please contact:
Yatra Online, Inc.
VP, Head Investor Relations