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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…

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