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