wordpress blog stats
Connect with us

Hi, what are you looking for?

MakeMyTrip Acquires South East Asia Focused Hotel Travel Group

With the announcement of its quarterly results, MakeMyTrip also announced the acquisition of companies in the 'Hotel Travel Group' (HT Group), which has been operating the website www.hoteltravel.com  for more than ten years and has presence in Thailand, Singapore and Malaysia. The acquisition is in line with MakeMyTrip's strategy of strengthening its presence in hotel and holidays segment in India and South East Asia, as the group has tie ups with approximately 80,000 hotels across the world. So MakeMyTrip will be able to increase its hotel inventory specifically in the regions, which are popular among Indian travellers. According to MakeMyTrip, the total consideration payable to the Promoters of the HT Group by MakeMyTrip for acquiring the HT Group is  $25 million, out of which $15 million was paid partly in cash and partly in the form of MakeMyTrip shares in the first closing that occurred on November 6, 2012. The balance amount of $10 million is agreed to be paid in the form of MakeMyTrip shares, in 3 annual tranches through March 2016. Following the acquisition, two of the Promoters of the HotelTravel Group will continue in employment with the group in key capacities, and will be eligible for additional earn outs and incentives for the next 3 — 4 years based on HT Group meeting certain revenue and EBIDTA targets, according to MakeMyTrip. The additional earn outs can range from NIL to $35 million and will be payable partly in cash and partly in the form of MakeMyTrip shares, it added. MakeMyTrip's Previous Acquisitions MakeMyTrip's other acquisitions include Singapore based Luxury Tours & Travel Pte Limited (LTT), which it had acquired for more than $3 million in February 2011. It…

Please subscribe/login to read the full story.
Written By

Free Reads

News

The Bill allows the Attorney General or any district/ city attorney to seek injunctive or other equitable relief against a large online platform

News

The tech giant made it clear it doesn't share data from organizations using Azure OpenAI and Copilot to third-parties or use it to train...

Google

Among the selected organizations are Quill.org and the World Bank, both known for their work in AI-powered tools.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ