China-based Ctrip enters into a strategic partnership with Oyo

By Akshay Kedari  Date: 2019-05-29

China-based Ctrip enters into a strategic partnership with Oyo

The collaboration between the two giants will add value to the hospitality landscape of China by empowering both the demand and supply side.

China’s leading online travel agency (OTA) Ctrip has reportedly announced that it has signed a strategic agreement with Oyo, backed by Softbank, to partner and generate demand by providing access to customers of both brands in China. The partnership comes after Ctrip acquired stake of Naspers in MakeMyTrip.

Reportedly, under the partnership, Oyo and Ctrip will work to help asset owners around multiple areas, including improving and upskilling the talent pool, offering marketing support and greater visibility online, harnessing technology, increasing customer traffic to the listing of hotel and streamlining operations regarding bookings generated from Ctrip.

Sam Shih, COO, Oyo China, reportedly stated that the multi-brand strategy of the company enables to meet the needs of every type of traveler and the collaboration with Ctrip provides an opportunity to extend the offerings to millions of discerning Chinese travelers looking for standardized, quality offerings. As the second-largest hotel chain of the country, Oyo is seeking the remarkable reach that Ctrip holds as China’s largest OTA, to steer travelers to 10,000 of the company’s hotels around 320 cities, he further added.

Reportedly, Oyo Jiudian (Hotels) has more than 450,000 exclusive rooms in 10,000 hotels across China.

Maninder Gulati, Global Chief Strategy Officer, Oyo, reportedly stated that with Ctrip, the country’s largest OTA, serving more than 300 million registered customers, the company aims to develop a multi-dimensional full-service value chain covering every segment of travel. The collaboration between the two giants will add value to the hospitality landscape of China by empowering both the demand and supply side, he further added.

Last month, MakeMyTrip had announced a change in its shareholding basis as Ctrip International and Naspers signed a share exchange transaction deal. Naspers has traded its entire shareholding in MakeMyTrip for newly issued shares of Ctrip and Ctrip acquired shareholding of Naspers in MakeMyTrip.

Source credit: https://www.moneycontrol.com/news/business/startup/oyo-enters-into-a-strategic-partnership-with-chinas-ctrip-4027421.html

https://www.cnbctv18.com/startup/oyo-enters-into-strategic-partnership-with-chinas-online-travel-agency-ctrip-3485541.htm

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Mark Zuckerberg planning to rebrand Facebook to reflect metaverse focus

Mark Zuckerberg planning to rebrand Facebook to reflect metaverse focus

By Akshay Kedari

There have been many businesses that have rebranded themselves to alter their identity with time. Following the league, social networking giant Facebook is also reportedly planning to rebrand the firm with a new name. On October 28, Chief Executive ...

Formula One teams to test second-generation biofuel during 2022 season

Formula One teams to test second-generation biofuel during 2022 season

By Akshay Kedari

The leading motorsport intends to achieve net-zero carbon status by the end of this decade. F1 has ruled out switching to an all-electric powertrain such as in Formula E. With increasing significance towards green mobility, Formula One teams are...

Apple’s iPhone 13 production may take a hit due to global chip shortage

Apple’s iPhone 13 production may take a hit due to global chip shortage

By Akshay Kedari

Apple Inc. is likely to cut down production of its iPhone 13 model by approximately 10 million units on account of the global chip shortage. The American multinational technology company was previously expected to manufacture 90 million units of the ...

Israel's GoTo Global acquires German e-moped sharing platform emmy

Israel's GoTo Global acquires German e-moped sharing platform emmy

By Akshay Kedari

Israel-based multimodal vehicle sharing services provider GoTo Global Mobility Ltd. has reportedly acquired Germany’s shared e-scooter company emmy. The acquisition will allow GoTo Global to enter the German market as well as accelerate its Eur...

German airline Lufthansa adds four new planes to its A350 fleet

German airline Lufthansa adds four new planes to its A350 fleet

By Akshay Kedari

Deutsche Lufthansa AG recently revealed that it has agreed to take four new Airbus A350-900 long-haul passenger aircraft on lease, utilizing newer planes that are left grounded as airlines reorganize their balance sheets in the wake of the ...