SoftBank-backed hospitality chain Oyo Hotels and Homes and Nasdaq-listed MakeMyTrip, India’s largest online travel operator, have renewed their commercial agreement for a further five-year period. The agreement between the two Gurgaon-based firms, both leaders in their respective segment, was first inked in February last year. ET, at the time, was the first to report on the development in its edition dated February 26.
However, the deal between Oyo and MakeMyTrip will continue to see the latter exclude Oyo’s rivals, SAIF Partners backed Treebo Hotels and Accel India-backed Fab Hotels, from its two primary platforms, including GoIbibo, according to two sources with knowledge of the developments. When contacted by ET seeking clarification, an Oyo spokesperson said the companies would “continue to explore newer avenues to work together towards our common mission of creating and delivering great quality experiences to travellers from around the world.”