Clearly Vinod Kannan, the CEO of Vistara, may have had to field this question on the possible Vistara-Air India merger one too many times.
India’s EaseMyTrip Acquires Majority Stake in Hotel Booking Marketplace CheQin
25.08.2023 - 14:22 / skift.com / Peden Doma Bhutia / Prashant Pitti
Indian online travel agency EaseMyTrip announced this week that it has acquired a 55 percent stake in hotel booking marketplace cheQin, owned by Gleego Innovations, for around $370,000.
The online travel agency said the acquisition would help strengthen its hotel channel.
“With this, EaseMyTrip is in a great position to give its customers a wide range of innovative hotel booking options at the most competitive prices,” the company said.
In a stock exchange filing, EaseMyTrip called cheQin a marketplace which connects travellers and hoteliers in real time and empowers hoteliers to have an access to live booking requests and manage bookings.
Speaking to Skift earlier, Prashant Pitti, the co-founder of EaseMyTrip, had said that the company is now looking to grow its non-air business by acquiring companies that are profitable, tech driven, asset-light and disruptive.
EaseMyTrip will diversify its hotel booking experience through technology support, said Nishant Pitti, CEO and co-Founder of EaseMyTrip. “cheQin provides unparalleled options in all segments and has the potential to scale and strengthen cross-selling.”
In December, the company had acquired a 75 percent stake in Nutana Aviation Capital for around $185,000.
Nutana Aviation Capital leases charter aircraft and provides charter services both within India and outside .
While the company has not yet shared its earnings for the October-December quarter, in the July-September quarter, EaseMyTrip posted gross booking revenue of $243 million, which the company said was its highest-ever in any quarter.
The company posted a profit before tax of $5 million.
This week, EaseMyTrip also announced the launch of its franchise business through which it aims to provide a retail store experience to its customers.
With EaseMyTrip Franchise, the company is tapping a new set of offline customers to expand its reach.
The business model will allow customers to have an in-store retail experience, the company said in a statement.
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