Neither party confirmed the size of the deal announced today, but an industry source told TechCrunch that it is between $150 million and $200 million.

OYO and Airbnb had previously been rivals of sorts, but OYO has pivoted toward hospitality services - including logistics and management - rather than simply aggregating budget hotels. Airbnb, with its HotelTonight acquisition, has shown it wants to be a booking destination across different types of verticals.

That exposure could help OYO - which stands for “On Your Own” - as it looks to break into the overseas-traveler market, having previously been more popular with local or regional travelers.

OYO: Overtaking Marriott only the beginning, says Ritesh Agarwal