Paytm has entered the domestic hotel booking segment with the acquisition of NightStay, a luxury hotel-booking platform offering deals on last-minute bookings.

Following this, the digital payments platform aims to expand its operations in the travel service segment— Paytm Travel, started in 2014, sells millions of tickets a year across the rail, bus and flight bookings. It also offers foreign exchange bookings for international travellers

As a part of this new venture, Paytm is expected to invest 500 crores in scaling up its operations and expansion. Additionally, the company has partnered with over 5000 hotels across the budget, luxury and business segments. These include the Zuri, Sarovar, Treebo, Vresorts, Sterling, Ginger and Bloomrooms among others.

Paytm is to expand its offering to 2 million hotels and other accommodations globally, and aims to become Asia’s top hotel booking destination by 2020.

Madhur Deora, Chief Financial Officer, Paytm said, “The launch of domestic hotel bookings is an important step forward as it will help travellers around the country conveniently plan and book their perfect trip on Paytm. We want to offer the broadest travel selection on our platform, and look forward to continuing our expansion with the help of our trusted travel partners”