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EaseMyTrip Signs “Exclusive” Pact To List Hotels On PhonePe

Inc42 · 10m ago

EaseMyTrip Signs “Exclusive” Pact To List Hotels On PhonePe

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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EaseMyTrip Unveils ScanMyTrip On ONDC To Expand Its Travel Offerings

Inc42 · 11m ago

EaseMyTrip Unveils ScanMyTrip On ONDC To Expand Its Travel Offerings

Online travel aggregator, EaseMyTrip, has launched a marketplace called ScanMyTrip.com. This platform will allow various travel businesses, including OTAs, MSMEs, travel agents, and homestays, to list their services such as flights, hotels, and accommodations. The aim is to simplify the onboarding process and provide a platform for these businesses to connect with travelers and compete in the online marketplace.

EaseMyTrip forays into hospitality space with 13% stake acquisition in Eco Hotels and Resorts

Inc42 · 1y ago

EaseMyTrip forays into hospitality space with 13% stake acquisition in Eco Hotels and Resorts

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.

Decoding the financial performance of India's top OTA players

Entrackr

Entrackr · 1y ago

Decoding the financial performance of India's top OTA players

India's top online travel agency (OTA) players, including MakeMyTrip, Ixigo, EaseMyTrip, and Yatra Online, have reported significant growth and profitability in the last financial year. MakeMyTrip led the pack with a 95% increase in operating revenue, making the majority of its revenue from hotels and packages. Ixigo also saw growth and turned profitable, while EaseMyTrip achieved impressive growth and profitability mainly through air ticketing. Yatra Online also witnessed growth and profitability, generating revenue from air ticketing, hotels and packages, and advertising. However, Cleartrip experienced a decline in scale and increased losses. The market remains attractive for these players due to the expanding middle class and rising overseas travel.

EaseMyTrip To Acquire 5% Stake In B2B Travel Portal E-Trav Tech For INR 33 Cr

Inc42 · 1y ago

EaseMyTrip To Acquire 5% Stake In B2B Travel Portal E-Trav Tech For INR 33 Cr

Indian traveltech major EaseMyTrip has announced plans to invest INR 33 crore ($3.9 million) in B2B travel portal E-Trav Tech Limited to acquire a 4.94% stake. Mumbai-based E-Trav provides travel API services to businesses, enabling them to offer competitive travel deals and content from global suppliers. EaseMyTrip, which offers air tickets, hotels, holiday packages, rail and bus tickets, has been on an acquisition spree in recent years, buying stakes in various travel-related companies. The move comes following EaseMyTrip's robust financial performance in Q3 FY24, with a 9.6% increase in net profit.

PhonePe ends pact with Juspay, stops third-party integrations for merchant payments

Economic Times

Economic Times · 8m ago

PhonePe ends pact with Juspay, stops third-party integrations for merchant payments

PhonePe, a major digital payments company, has ended its partnership with payment orchestration platform Juspay and will directly integrate with merchants instead. This move allows PhonePe to provide a seamless payment experience from transaction origination to settlement. While PhonePe has been offering direct integration for some time, it will now discontinue all third-party integrations. This decision aligns with the trend of payment aggregators building their own payment orchestration systems in-house. Juspay, which recently obtained a payment aggregator license, may now compete with other brands such as Razorpay, PhonePe, and Cashfree.

Lemon Tree eyes co-branding alliances with international hotel chains

Livemint

Livemint · 8m ago

Lemon Tree eyes co-branding alliances with international hotel chains

Indian hotel chain, Lemon Tree Hotels, is preparing to capitalise on the growing demand for hotel rooms in India as consumer spending on branded hotels increases. The company plans to list its subsidiary, Fleur Hotels, in the next two years to decrease debt and is considering alliances with international hotel chains. Lemon Tree currently has 112 hotels and is developing an additional 86 properties. The company reported a 24% increase in consolidated revenue for Q2 2019, and a 34% increase in net profit. Founder Patanjali G Keswani believes there is ample opportunity for growth in India's hotel industry, particularly in smaller, unbranded hotels.

DeHaat Inks Pact With Drone Destination To Offer Agri-Drone Solutions

Inc42 · 10m ago

DeHaat Inks Pact With Drone Destination To Offer Agri-Drone Solutions

DeHaat and Drone Destination have announced a collaboration to aggregate orders for drone spray services. DeHaat will list Drone Destination as a service provider on its platform, while the agritech company will also list its agricultural products on the drone tech startup. The Indian drone tech space is projected to reach a market size of $13 billion by 2030.

From inception to evolution - here's success story of travel platform EaseMyTrip

Livemint

Livemint · 1y ago

From inception to evolution - here's success story of travel platform EaseMyTrip

Online travel aggregator EaseMyTrip, the second-largest travel aggregator in India, suspended all Maldives flight bookings in support of the Indian government during the India-Maldives row in January. Founded in 2008, EaseMyTrip offers a range of travel products and services, including airline tickets, rail tickets, bus tickets, taxis, holiday packages, hotels, and travel insurance. The company recently went public, raising over ₹510 crore through an initial public offering. Co-founder Rikant Pittie discussed the company's journey and highlighted their in-house Smart Voice Recognition Technology as a competitive advantage. EaseMyTrip aims to expand globally and diversify into non-air segments while remaining committed to sustainability. The Indian travel industry is projected to contribute significantly to the country's GDP and experience growth in religious tourism.

Exclusive: Bloom Hotels to raise $9 Mn in new round

Entrackr

Entrackr · 2m ago

Exclusive: Bloom Hotels to raise $9 Mn in new round

Exclusive: Bloom Hotels to raise $9 Mn in new round Delhi-based hospitality chain Bloom Hotels is set to raise Rs 77.7 crore (around $9 million) in its first funding round of 2025, with participation from Samena Capital Limited and Ikonika Holdings. Bloom Hotels' board has approved a special resolution to issue 7.77 crore compulsory convertible preference shares to raise the said amount, according to its filing with the Registrar of Companies (RoC). The proceeds will be used to fuel the company’s growth and expansion plans, the filing added. The hospitality company operates hotel brands such as Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms. Currently, it has over 50 hotels across cities including Mumbai, Pune, Udaipur, Jaipur, and the NCR. The company has already secured around Rs 362 crore (approximately $45 million) from Samena Capital, which now holds a majority stake in the hospitality chain. Bloom Hotels is yet to file its financials for FY25. However, the company has witnessed over 5X growth in the past two years, with revenue rising from Rs 49 crore in FY22 to Rs 250 crore in FY24. It also reported a net profit of Rs 14 crore for the fiscal year ended March 2024. It competes with Treebo Hotels and FabHotels, which posted operating revenues of Rs 88.6 crore and Rs 224 crore, respectively, in FY24. It also faces competition from newer players like Salt Stayz and larger brands such as Oyo, through its Sunday Hotels.

IHCL, Ambuja Neotia Group ink pact for 15 new hotels, focus on east, northeast region

Economic Times

Economic Times · 20d ago

IHCL, Ambuja Neotia Group ink pact for 15 new hotels, focus on east, northeast region

Indian Hotels Company (IHCL) and Ambuja Neotia Group have announced a partnership to establish 15 new hotels in eastern and northeastern India, with an investment of up to ₹2,000 crore. The new sites will be a mix of greenfield, brownfield, and conversions across West Bengal, Sikkim, and Himachal Pradesh. This initiative aims to enhance tourism potential in the region. The partnership will increase their hotel count from 28 to 43, adding over 1,000 rooms.

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