Yatra to acquire Travelguru
Fourth in the line of acquisitions by Yatra.com.July 03, 2012 | comments ( 0 ) |
Yatra.com, India’s leading online travel company announced its agreement to acquire a 100 per cent stake in Travelguru from Travelocity Global. Travelguru will continue to operate as a separate entity under its existing brand name. When completed, this acquisition will be Yatra.com’s fourth major acquisition in the last 18 months, following the purchase of TSI in October 2010, MagicRooms in June 2011 and Buzzintown in January, 2012.
The acquisition of Travelguru will strengthen Yatra.com’s position as the leading company in the Indian online travel space and substantially extend its position as the premiere aggregator and seller of domestic hotels and holidays in India, adding to its already strong offerings for flights and outbound holidays.
Commenting on this new development, Dhruv Shringi, Co-Founder and CEO, Yatra.com said, “This acquisition will significantly strengthen our domestic hotels and holidays business and reinforces our growth strategy and long term commitment and belief in the Indian online travel industry. Not only will this consolidation increase our customer base, but it also widens our product portfolio and leverages our ability to bundle solutions, offering better deals and value propositions to our customers. The acquisition will also provide Travelguru’s hotel partners with a much wider distribution network through Yatra.com and its B2B network of 10,000+ agents.”
Roshan Mendis, President, Travelocity North America said, “The two brands have obvious synergy and are an excellent fit. Moving forward, we will work closely with the Yatra.com team on a transition plan and an arrangement to source India hotel content for Travelocity Global so that our customers continue to have the best access to accommodation options in India.”
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