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Aya Lin · · 1 min readIn brief: India’s Paytm acquires local hotel-booking platform NightStay
India-based payment and ecommerce firm Paytm has introduced hotel bookings on its platform as it acquired local hotel-booking app NightStay. Paytm plans to invest 500 million Indian rupees (US$70.1 million) to scale up its travel business.
The company has partnered with more than 5,000 hotels across the budget, luxury, and business segments and wants to reach an inventory of 2 million hotels and alternative accommodations globally by 2020.
Source: Economic Times
Currency converted from Indian rupees. Rate: US$1 = INR 71.35
Editing by Charmaine de Lazo
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