Showing: 1 - 15 of 15 RESULTS
New-age Drivers

Impressive Rs 175 crore project in adventure takes off in the Jammu region

Srinagar based FIL Group ventures into the world of travel & tourism, with an investment of 175 crores by its subsidiary Empyrean Skyview Projects Private Limited (ESPPL) in its first project, Skyview Patnitop. “Skyview Patnitop” by Empyrean is an initiative which was made possible through a strategic fusion of entrepreneurship, global partnerships, and modern technology to offer a world class adventure destination at the foothills of the Shivalik mountain range in Patnitop, J&K. This ambitious …

New-age Drivers

CCI approves Ctrip’s 42.5 per cent stake in MMT; deal pegged at USD 2.57 billion

Ctrip’s bid to acquire a 42.5 per cent stake in online aggregator MakeMyTrip has been approved by Competition Commission of India (CCI). The apex body recently took to Twitter, announcing the closure of the deal. “CCI India approves the acquisition of additional outstanding voting securities of MakeMyTrip Limited By Ctrip.com International Limited,” it twitted. At the current stock market valuation, the deal is pegged at USD 2.57 billion. Ctrip is a Hong-Kong based travel service …

New-age Drivers

Indian travellers back sustainable tourism in 2019, reveals Booking.com report

Key findings: 79% of Indian travellers report being more determined to make sustainable travel choices than they were a year ago. 98% of Indian travellers intend to stay at least once in an eco-friendly or green accommodation when looking at the year ahead. Over a half (51%) of Indian travellers believe that they would be more encouraged to travel sustainably if there were economic incentives offered, such as tax breaks, when choosing eco-friendly options 80% …

New-age Drivers

US-based firm Ebix offers to buy out Yatra.com for a premium sum

US-based IT firm Ebix has recently proposed the acquisition of the online travel portal Yatra in an undeclared amount, media reports suggest. The Times of India has reported that the company is willing to shell out a significant premium over its market price. According to the ToI report, Ebix has offered a price of about $7 a share for the Nasdaq-listed company which is 84% higher than the closing price of Yatra Online Inc on …

New-age Drivers

Thomas Cook India acquires Digiphoto Entertainment Imaging

Acquisition is PAT and free cash accretive from day one Marks Thomas Cook India Group’s entry into an adjacent sector, complementary to its travel & travel related services portfolio. Thomas Cook India Group has acquired a 51% stake in Digiphoto Entertainment Imaging (DEI), one of the world’s leading imaging solutions and services providers at an enterprise value of US $40.6 Million (INR 289 crores). The transaction is subject to regulatory approvals and customary closing conditions. …

New-age Drivers

Internet, personalization and social media driving Indian travellers: Sharat Dhall, Yatra.com

In his ‘Travel trend wrap up report by Yatra.com’, Sharat Dhall has listed out Virtual Reality, social media, and internet as major influencers in driving Indian tourists, within the country and globally. Also, family vacations are in as Indians are now looking for experiences and not just travel. Excerpts from an insightful report:  The Indian travel industry has been growing at an exponential rate at the backdrop of burgeoning socio-economic disposition and evolved preferences of …

New-age Drivers

Travelport to go private; Evergreen corp. buys it off for 4.4 billion USD

Travelport is set to be acquired by affiliates of Siris Capital Group and Evergreen Coast Capital Corp. It is going to be an all-cash transaction, pegged at approximately 4.4 billion USD. Elliott Management Corporation handles Evergreen as its private equity affiliate. As per the understanding, Siris and Evergreen will acquire all the outstanding common shares of Travelport for USD 15.75 per share in cash. The Board of Directors of Travelport have unanimously approved the agreement …

New-age Drivers

Booking.com will continue its India-centric approach, build locally, says Ritu Mehrotra 

Ritu Mehrotra, Country Manager – India, Sri Lanka & Maldives, shares her views on Booking.com’s commitment to the Indian market, the recent trends in the travel industry and how OTAs are going to remain a major driver of demand for the hospitality industry. Hotel companies, in the past few years, have ramped up their own outreach by investing considerable resources in developing their online presence to encourage more direct bookings from customers. Some would argue that …

New-age Drivers

Booking.com ties up with the Maharajah to boost its outreach

It is the time for strategic alliances. Increasingly, companies are coming together better position their products, and battle the intense competition that has come. One such example was Flipkart tying up with MMT to cross-sell on each other’s platform. In a similar development, online global giant Booking.com Booking.com has tied up with the national carrier to offer the airline’s customers access to over 28.9 million accommodation listings, including everything from homes, apartments, villas to world-class …

New-age Drivers

Relinquish traditional wisdom to tap opportunities in a ‘new India’: Vijay Shekhar Sharma

Vijay Shekhar Sharma, founder of PayTm, is the poster boy for India’s recent success story in the startup sector. He swung between colloquial Hindi and English, leaving the audience in splits with his unusual but brutally honest observations, as took centre stage in a one-on-one with Abha Bakaya at the recently held Global Hospitality Conclave 2018. India: a great opportunity for startups Vijay Shekhar Sharma emphatically brushed aside concerns around country’s growth trajectory and demonstrated …

New-age Drivers

Yatra.com and OYO join hands to boost inventory and outreach

In yet another sign of growing consolidation in the domestic online e-commerce space, two of India’s prominent, home-grown, online hotel aggregators have joined hands to boost their cumulative market presence.  In a recent development, likely to have an impact on the market share dynamics, Yatra.com has joined hands with OYO. The tie-up is expected to add substantial weight to each-other’s offerings, providing a much larger gamut of choices to their consumers. It is important to …

New-age Drivers

Eyeing the Middle and Africa, Ezeego1 expands B2B outreach in the region

With an eye on tapping the lucrative Middle East market in the B2B travel and tourism marketplace, Ezeego1.com has announced its entry in the region. Dubai – a financial hub of the Emirates – will serve as the company’s headquarters in region. Dubai’s strategic location and financial muscle will aid the company in expanding its outreach in the region and the African continent. Ezeego1 will enable and distribute comprehensive content of hotels, holidays, activities, cruises, …

New-age Drivers

OYO raises $250 million in financing, Hero Enterprise latest investor

The home-grown hotel aggregator is plush with funds, as in yet around round of funding, the company has raised 250 million USD, roughly INR 1600 crores.  Hero Enterprise has joined as a new investor along with existing investors – Softbank, Sequoia India, Lightspeed and Greenoaks Capital. The latest round of funding is likely to be aimed at expanding OYO’s footprints in the South-East Asian market.   OYO – India’s largest hospitality company – has raised $250 …

New-age Drivers

Technology has altered hospitality landscape, says Manav Thadani

Manav Thadani, Chairman – Asia Pacific, HVS threw open the 20th edition of HISCA yesterday. In a free-wheeling address to delegates, in the inaugural address in session titled ‘Manav Thadani: Unplugged’, he pointed towards the sea change in the world which has had a direct bearing on the hospitality landscape, aided and catalysed by infusion of technology in our midst. Calling infusion of technology the biggest change in the marketplace in the past twenty years, …

New-age Drivers

MMT-ibibo merger will expedite the shift of travel industry from offline to the online space

The merging of operations by two of the major domestic players in the online space, MakeMyTrip and ibibo, will have a profound impact on the future of the industry, writes Deep Kalra, Founder and Mentor, MMT. He articulates how consumers would have a wider gamut of services and price points to choose from and how the industry would witness more rationalization with regard to margins and discounts.  The Indian e-commerce industry has truly taken off …