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EaseMyTrip Eyes Foray Into Hospitality Space With 5-Star Hotel In Ayodhya
Inc42
ยท
1y ago
Medial
EaseMyTrip, a leading travel tech startup, is venturing into the hospitality sector with the construction of a 5-star hotel in Ayodhya. This move comes as the company's first investment in the hotel industry, with a capital allocation of INR 100 Cr. The hotel will be built near the recently consecrated Ram Mandir, aiming to cater to the growing number of tourists visiting Ayodhya. The announcement of the project led to a 5% increase in EaseMyTrip's share prices. This expansion follows the startup's recent entry into the insurance market with its subsidiary EaseMyTrip Insurance Broker.
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Related News
Nishant Pitti's EaseMyTrip parent to open a 5-star hotel near Ram Mandir in Ayodhya
IndianStartupNews
ยท
1y ago
Medial
Nishant Pitti's Easy Trip Planners, the parent company of EaseMyTrip.com, is investing Rs 100 crore to open a luxurious 5-star hotel near the renowned Shree Ram Mandir in Ayodhya, Uttar Pradesh. The hotel aims to provide a unique blend of spirituality and luxury, catering to the surge in religious tourism to Ayodhya. EaseMyTrip recently reported a net profit of Rs 47.5 crore in the third quarter of FY24, with a year-on-year increase in revenue and EBITDA.
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EaseMyTrip, Jeewani Group partner with Radisson Hotel Group to build hotel in Ayodhya
Livemint
ยท
1y ago
Medial
Travel booking platform EaseMyTrip has partnered with the Jeewani Group to develop a 150-room Radisson Blu Hotel in Ayodhya. The hotel, set to open in 2027, is strategically located near the Shri Ram Mandir and is expected to benefit from increased religious tourism following the consecration of the Ram Temple. The collaboration aims to enhance the hospitality offerings in Ayodhya and create a landmark destination in the city.
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EaseMyTrip forays into hospitality space with 13% stake acquisition in Eco Hotels and Resorts
Inc42
ยท
1y ago
Medial
Traveltech major EaseMyTrip has entered the hotel and hospitality industry by acquiring a non-controlling stake of around 13% in Eco Hotels and Resorts Limited. The investment was made through a share swap deal, with EaseMyTrip swapping its investment in Eco Hotels India Private Limited with shares of Eco Hotels and Resorts Limited. The strategic objective of the investment is to promote environmentally friendly practices within the hospitality sector. Eco Hotels aims to become a leading owner, developer, and asset manager of three-star premium and economy brands in emerging markets.
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EaseMyTrip Signs โExclusiveโ Pact To List Hotels On PhonePe
Inc42
ยท
11m ago
Medial
PhonePe and EaseMyTrip have entered into a partnership, allowing PhonePe users to access services offered by EaseMyTrip, including hotel deals, cab services, and more. The collaboration aims to leverage EaseMyTrip's offerings in the travel tech space and PhonePe's user base to enhance accessibility and attract new users. This news follows the recent sale of shares in EaseMyTrip by its CEO, Nishant Pitti, for INR 920 crore.
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Radisson Hotel Group Announces Its Second Hotel Project In Ayodhya
OutlookIndia
ยท
1y ago
Medial
Radisson Hotel Group has announced plans to build a new 150-room Radisson Blu Hotel in Ayodhya, set to open in 2027. This marks the group's second hotel investment in Ayodhya, following the announcement of the Park Inn by Radisson Ayodhya opening in January 2024. The new hotel will be located within two kilometers of the Shri Ram Mandir temple, enjoying excellent road connectivity and proximity to the Maharishi Valmiki International Airport and Ayodhya Railway Station. The decision to invest in Ayodhya is driven by strong guest demand and the city's potential as a market for expansion.
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EaseMyTrip board approved three acquisitions to strengthen strategic presence - The Economic Times
Economic Times
ยท
15d ago
Medial
EaseMyTrip is expanding its travel capabilities with three strategic acquisitions. These include a 50% stake in London's Three Falcons Hotel, marking its entry into international hospitality, and a 100% stake in AB Finance Private Limited for a commercial property in Gurugram to support operations. An in-principle approval for investment in VBIL further enhances its portfolio. These moves aim to enhance travel experiences and build long-term value for the company in both international and domestic markets.
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LuLu group puts 217-room Marriot on block for โน400 crore
Livemint
ยท
1y ago
Medial
An under-construction 5-star hotel near Bengaluru airport is up for sale for an estimated โน400 crore. The hotel, owned by Twenty Fourteen Hotels India Pvt. Ltd, is 75% complete and is expected to be finalized within two months. The property, which was supposed to be ready by 2019, faced delays due to the mounting debt of Twenty14 Holdings, the hospitality investment arm of LuLu Group International. The hotel will be operated by Marriott International. The buyer is willing to pay โน350 crore for the property, but additional funds will be needed to complete the construction.
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SoftBank partners Oravel to check into premium hotels
Economic Times
ยท
1y ago
Medial
SoftBank is expanding its presence in the Indian hospitality sector by partnering with Oravel Stays, the parent company of Oyo hotels. The companies have established a joint venture called 'Mountainia' to open premium and five-star hotels under the 'Sunday' brand in tier two Indian cities. The first Sunday hotel has already opened in Jaipur, with plans for four more by the end of the year. SoftBank and Oyo aim to redefine the premium and luxury hotel experience in India, tapping into the growing demand for high-end offerings in non-metro and tier-2 cities.
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Easy Trip Planners enters into definitive agreements for investments in Pflege, Jeewani Hospitality, Planet Education | Company Business News
Livemint
ยท
8m ago
Medial
Easy Trip Planners, the parent company of EaseMyTrip, has entered into agreements for three strategic acquisitions. They have acquired a 49% stake in Dubai-based Pflege Home Health Care Center for โน30 crore, expanding into the healthcare and medical tourism sector. They have also acquired a 50% stake in Jeewani Hospitality in Uttar Pradesh for โน100 crore, aiming to enhance their hotel operations. Additionally, they secured a 49% stake in Australia's Planet Education for โน39.2 crore, venturing into the international education and student services market. These acquisitions are part of the company's efforts to diversify and strengthen its portfolio.
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Bengaluru sees โน485 crore in hotel asset sales in a single day | Mint
Livemint
ยท
10m ago
Medial
- Samhi Hotels Ltd has acquired a 142-room, 4-star hotel in Bengaluru's Whitefield area for โน205 crore. - Formerly managed by ITC under the Fortune brand, the property is now called Trinity Hotel and will become part of Samhi's portfolio. - Samhi plans to expand the property by adding 200-220 rooms in a separate building, rebranding it from upscale to upper-upscale. - Samhi's focus on Bengaluru aligns with its long-term growth strategy, given the city's strong demand growth driven by limited supply. - Juniper Hotels has secured a โน280 crore deal to sell a 220-room, five-star hotel near Bengaluru airport to Lulu Group's Twenty Fourteen Hotels India Pvt. Ltd. - The Indian hospitality sector is witnessing a surge in transaction activity, with projected deal volumes expected to reach $413 million by year-end.
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