SoftBank-backed OYO Hotels & Homes on Monday said it has partnered Spanish firm Hotelbeds that will provide the Indian company with access to more than 60,000 travel buying intermediaries around the world.
The preferred agreement represents OYO’s first-ever distribution partnership with a bedbank, OYO said in a statement.
No financial details of the partnership were disclosed.
Bedbank is an organisation that negotiates special rates with accommodation providers and acts as a wholesaler.
“The partnership provides OYO with access to more than 60,000 travel-buying intermediaries around the world that use the Hotelbeds platform, including tour operators, airline websites, points redemption programs, loyalty plans, and MICE operators from more than 140 source markets,” the statement said.
Also, Hotelbeds’ clients will have access to OYO’s portfolio of over 18,000 franchised and leased hotels and over 10,000 homes and villas across 10 countries, it added.
“Hotelbeds distribution channel of B2B travel buyers helps us access new customer segments and geographies. The bedbank company’s cost-efficient distribution channel makes them an ideal partner to achieve our goal,” OYO Hotels & Homes Chief Strategy Officer Maninder Gulati said.
Source: Mint