NightStay

NightStay operated as a mobile-first marketplace specializing in last-minute hotel bookings, primarily targeting spontaneous travelers in India. The company was founded in 2014 by Nasr Khan, Deepak Negi, Asad Khan, and Sami Khan. Nasr Khan, an IIM-Calcutta alumnus who previously served as Vice President of Products at Info Edge, acted as the CEO, leveraging his experience in the tech industry.

The business model centered on aggregating and selling unsold hotel inventory at discounted rates. NightStay partnered with luxury and boutique hotels, making rooms available for booking from the morning of the stay. This approach addressed the issue of perishable hotel inventory, which loses all value after a day, by creating a channel to monetize these otherwise lost assets. The platform offered bookings for up to three consecutive days, focusing on a curated selection of higher-rated hotels rather than the unorganized budget sector. To maintain the brand integrity of its partners, hotels had the option to remain anonymous on the platform. The company generated revenue by taking a commission on these bookings.

The service was exclusively available through its mobile app, designed for a quick and seamless booking process. NightStay operated in 12 cities across India, including major metropolitan areas like Delhi, Mumbai, and Bengaluru. Over its operational history, the startup raised approximately $849,000 in funding from investors such as Bedrock Ventures, GSF, and Indian Angel Network. In July 2018, the digital payments and e-commerce giant Paytm acquired NightStay for an estimated $20 million. Following the acquisition, the entire NightStay team was integrated into Paytm, and co-founder Nasr Khan was appointed to lead Paytm's hotel booking division.

Keywords: last-minute booking, hotel inventory, mobile marketplace, travel tech, hospitality, acquisition, dynamic pricing, luxury hotels, online travel agency, India