NEW DELHI (INDIA): Online hospitality firm HotelBids is planning to invest Rs 70-80 crore for expansion within India and overseas next year.
“We are at present building customer base. So far, we have invested around Rs 3-4 crore mainly on technology and operation for this service. Next year, we plan to invest Rs 70-80 crore in expanding our footprint both in domestic as well as overseas market,” Hotel-Bids president and CEO Inder Sharma said.
Sharma founded the US-based Hotel.com and exited it after selling his stake in 2002. HotelBids allows its users to set budget for a stay in city or locality of his choice.
The hotels in the selected area then contacts HotelBids subscriber if the budget suits them.“We are giving consumers power to negotiate. At present, we have 3,000 hotels on our platform priced in the range of Rs 700-7,000 per stay,” he said.
Source: Press Trust of India