All hail travellers ! We frequent ones just got some more budget hotel rooms to stay in! Tickets booking platform MakeMyTrip, post blocking budget hotel chains like OYO and ZO on its platform, has now announced its own affordable hotels lineup by the name of ‘Value+’.
MakeMyTrip’s initial offering of rooms would be in the range of 900 to 2000, making it a tough competitor, specially for OYO, which has been winning customer primarily by offering branded, plush hotel rooms at a similar priceband.
In an interview to ET, referring to the recent blocking of Oyo and Zo Rooms from its platform, MakeMyTrip CEO Deep Kalra said,
For us, the guiding light is our customer. If the customer feedback is negative, there is little we could do (than delist).
The model with Value+ is similar to Oyo or Zo. The brand will be an aggregator of budget hotels across the country and will standardise price of its aggregated set of hotels to one particular price range. However, while others put up their own brand name, Value+ will let these hotels function under their name, with the platform itself acting a purely an aggregator.
With Value+, the Nasdaq-listed brand is eyeing to increase its revenue from hotels to over 70% from the current 45% revenue share. MakeMyTrip has already aggregated about 1,000 hotels under the Value+ brand and plans to double the number in the next 30 days.
