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Online travel agency EaseMyTrip has announced the acquisition of three major Indian travel companies to consolidate its position in diverse channels, offline distribution and the B2B segment.
EaseMyTrip has received its board’s approval to acquire a majority stake in the three travel companies – Mumbai-based Guideline Travels, Delhi-based Dook Travels and J&K-based TripShope Online, with 51 per cent of the aggregate paid-up share capital of each of the firm incorporated in India, to solidify its position as a major player in the travel and tourism industry.
EaseMyTrip will pay the consideration for the proposed acquisition by way of issuance of its equity shares to the selling shareholders of the respective target companies on a preferential basis. The proposed acquisitions are subject to completion of customary condition precedents, shareholders’ approval, and any other regulatory approval.
Sharing more information, EaseMyTrip said they are proactively expanding through the acquisition of companies in order to have a prominent market presence.
Mumbai-based Guideline Travel deals in both B2C and B2B circuits and boasts an extensive product portfolio of international group tours, bespoke FIT ventures, fixed departures and MICE movements and has its major business line in cruises.
TripShope Online is a travel and leisure solution provider based in Kashmir, offering a wide range of travel products, including flights, holidays, hotels, and more.
Delhi-based Dook Travel is an integrated Travel Management Company, operating across CIS countries, Turkey, the UAE, and India.
The newly introduced e-Visa will facilitate entry into the Russian Federation for a variety of purposes, including guest visits, business trips, tourism, and participation in various events. This initiative will reduce the need for extensive documentation and lengthy processing times for Indian passport holders. The processing time for issuing a single-entry visa under the e-Visa system will be limited to a maximum of four calendar days.
Commenting on the acquisition, Nishant Pitti, Co-Founder of EaseMyTrip, “These three companies have a strong track record and a wealth of experience in their respective areas. Together with these remarkable travel companies, we extend and embrace to a diverse spectrum of exceptional services catering to larger markets. Together, we are poised to ignite the wanderlust of countless explorers, crafting unforgettable journeys that resonate with every soul and paint the world with the colours of adventure and discovery.’’ “Being pioneers at cruise selling, we sought an aggressive online selling platform for cruise products around the world. Our partnership with EaseMyTrip gives us a big thrust to bring a bouquet of cruise products to our B2B as well B2C clients. Partnership with EaseMyTrip opens up our horizons and will allow us to bring to fruition our vision hence propelling Guideline Travels to new heights,” said, Pradeep Saboo, Director, Guideline Travels.
“This is going to be a quantum leap in the travel, tourism, and employment generation of Jammu and Kashmir. The brand equity of EaseMyTrip is also going to help us expand in Jammu and Kashmir, apart from other parts of the country,” said Adil Sathu, Founder and COO, Tripshope.
“Tourism for CIS destinations is poised to grow exponentially for the next several years because of increasing air connectivity, simplification of the visa process and cordial bilateral relations with India. We together shall be able to leverage our positions as the market leader in CIS destinations through our extensive agent network, stronghold in airlines and EaseMyTrip’s extensive customer name and brand value,” stated Sandeep Gupta, Director, Dook Travels.
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