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Easy Trip Planners enters into definitive agreements for investments in Pflege, Jeewani Hospitality, Planet Education | Company Business News

LivemintLivemint · 8m ago
Easy Trip Planners enters into definitive agreements for investments in Pflege, Jeewani Hospitality, Planet Education | Company Business News
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 ₹30 crore, expanding into the healthcare and medical tourism sector. They have also acquired a 50% stake in Jeewani Hospitality in Uttar Pradesh for ₹100 crore, aiming to enhance their hotel operations. Additionally, they secured a 49% stake in Australia's Planet Education for ₹39.2 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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EaseMyTrip invests Rs 90 Cr in two overseas firms; enters medical tourism space

EntrackrEntrackr · 10m ago
EaseMyTrip invests Rs 90 Cr in two overseas firms; enters medical tourism space
Medial

Online travel aggregator (OTA) platform EaseMyTrip has acquired a 30% stake in Rollins International and a 49% stake in Pflege Home Healthcare to enter the medical tourism market. The board of directors at EaseMyTrip has approved the acquisition of Rollins International (30%) and Pflege Home Healthcare (49%) at a consideration of Rs 60 crore and Rs 30 crore, respectively, the company’s disclosure accessed from the National Stock Exchange shows. According to the filings, the consideration of Rs 90 crore will be paid to Rollins and Pflege in the form of an equity swap i.e. issuance of EaseMyTrip’s shares. “The acquisition is a strategic expansion into the rapidly growing medical tourism sector and align with EaseMyTrip’s mission to offer holistic travel solutions by integrating wellness and healthcare services into its service portfolio as medical tourism.” the company added in the disclosure. Pflege Healthcare is a UAE-based medical tourism provider which offers international patients access to treatments worldwide with partnerships across top-tier medical institutions and leading hotel chains. Rollins International is a subsidiary of Singapore-based RHA Holding which focuses on wellness, healthcare, and consumer products such as gluten and lactose-free food products, allergen-free health supplements, wellness therapies and treatments. Earlier this month, EaseMyTrip’s board also approved the proposal for the manufacturing of electric buses. Over the years, the company expanded its portfolio through the acquisition of several firms in the travel and hospitality sectors, including Guideline Travels Holidays, TripShope Travel Technologies, and Dook Travels last year. The Nishant Pitti-led firm recorded a 6.8% quarter-on-quarter decrease in its revenue to Rs 152.6 crore in the first quarter of the ongoing fiscal year as compared to Rs 164 crore in Q4 FY24. A slight decline in scale led EasyMyTrips’s profits to down by 13% to Rs 33.92 crore in the same period.

Brij Hotels raises $4 Mn in Series A funding round

EntrackrEntrackr · 1y ago
Brij Hotels raises $4 Mn in Series A funding round
Medial

Boutique hotels Brij Hotels has picked up $4 million in Series A round co-led by the Manipal Education & Medical Group (MEMG) Family Office. High net worth individual investors including Abhay Jain, Bain Capital MD Abhiroop Jayanthi , Rajendra Rao, and Prashant Deshpande also joined the company’s new financing. The company plans to utilise the proceeds for strategic expansion and strengthen its presence in the competitive hospitality industry, Brij Hotels stated in a press release. Founded in 1991 by Udit Kumar and Anant Kumar, Brij is a collection of hotels that offer hyperlocal experiences, all while prioritising sustainability. It lays emphasis on sustainability with the zero-kilometre concept minimising environmental impact. According to the Delhi based company, its portfolio includes eight operational hotels at tourist destinations which are dedicated to create connection between luxury and locale by commitment to sustainability. The company says that it operates as an asset-light model and engages in revenue-sharing agreements with property owners.

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