- One97 Communications owned Indian payments conglomerate Paytm has forayed into hotel bookings business by acquiring Noida based NightStay, a luxury hotel-booking platform that offers deals on last-minute bookings.
- Paytm is set to invest Rs. 500 crores to scale up its operations and expand the hotel-booking portfolio.
- NightStay co-founder and CEO Nasr Khan will be leading the newly launched hotel-booking category at Paytm.
- NightStay is an app only hotel booking platform that was launched in December 2014. Paytm has acquired it for Rs 142 crore.
