To strengthen its position as a significant player in the travel and tourism sector, EaseMyTrip.com has gained board approval to purchase 51% of the total paid-up share capital of each of the three well-known travel firms incorporated in India.
EaseMyTrip would issue equity shares to the selling shareholders of the respective target firms on a preferential basis as payment for the proposed acquisition. In order to establish a strong market presence, EaseMyTrip is actively growing through acquiring businesses. Guideline Travels Holidays India Private Limited in Mumbai, TripShope Travel Technologies Private Limited in Jammu and Kashmir, and Dook Travels Private Limited in New Delhi are the three businesses that the company plans to buy.
Nishant Pitti, co-founder of EaseMyTrip, commented on the acquisition, saying, “These three companies have a great track record and a plethora of experience in their respective fields. Together with these outstanding travel agencies, we embrace and extend to a wide range of unique services geared towards broader markets. Together, we have the power to stoke the wanderlust of countless adventurers by planning extraordinary adventures that speak to everyone’s soul and colour the world with the hues of exploration and adventure.
We desired an aggressive online selling platform for cruise products worldwide because we were pioneers in the cruise selling industry. We have a strong incentive to offer a variety of cruise solutions to both our B2B and B2C clients thanks to our cooperation with EaseMyTrip. The partnership with EaseMyTrip broadens our perspectives and enables us to realise our goals, elevating Guideline Travels to new heights, according to Pradeep Saboo, director of Guideline Travels.
“This is going to be a quantum leap in the travel, tourism, and employment generation of Jammu and Kashmir,” said Adil Sathu, founder and COO of Tripshope. Along with other regions of the country, he continued, “EaseMyTrip’s brand equity is going to help us expand in Jammu and Kashmir as well.”
“Due to improved air connectivity, easier visa requirements, and warm bilateral relations with India, tourism to CIS areas is expected to increase tremendously over the next few years. Through our huge agent network, solid relationships with airlines, and the extensive customer name and brand value of EaseMyTrip, we will all be able to use our positions as industry leaders in CIS destinations,” said Sandeep Gupta, Director, Dook Travels.
While cultivating synergies to generate operational savings and provide greater value to clients, EaseMyTrip is adamant about maintaining the distinctive identities of the acquired companies. All interested parties should benefit from increased growth, innovation, and a better travel experience as a result of the pooling of people, resources, and knowledge.
*The proposed acquisitions are contingent upon satisfying customary preconditions, shareholder approval, and any further regulatory approvals that may be necessary under the relevant law(s).
Source- Travel biz
Link- https://travelbizmonitor.com/easemytrip-on-expansion-spree-to-acquire-guideline-travels-tripshope-online-dook-travels/
