Oyo Rooms and Zo Rooms had barely time to recover from the blow of being taken off hotel room aggregators MakeMyTrip and Ibibo, and there’s more bad news. In direct competition to their business model, MakeMyTrip has launched its own budget brand, Value+, which will offer rooms from Rs 900 to Rs 2,000 per night.
It’s the old guard versus the new. Wary of the traction being generated by new-age hotel booking sites like Oyo Rooms and Zo Rooms, incumbents MakeMyTrip, GoIbibo and Yatra have collectively removed listings from these properties from their sites.
Barely a couple of days after hotel aggregator Oyo Rooms raised $100 million from Softbank, fierce rival ZO has raised $30 million from existing investors, Tiger Global Ventures and Orios venture partners.