Bangalore-based Treebo has acquired Events High, a marketplace for events and activities for an undisclosed amount. This deal will enable Treebo to expand beyond its offering of budget hotels, and enter into events and activities segment. Post the acquisition, Events High team will be absorbed by Treebo.
Events High offers customers information on, and ability to book activities like treks and hikes, cooking classes, dance classes, concerts, heritage walks, nightlife, etc. in 8 cities – Bangalore, Mumbai, Delhi, Chennai, Hyderabad, Pune, Kolkata and Goa. In a statement, Treebo said that its mission is to become “India’s most loved travel network by delivering delightful experiences to every traveller.”
Bangalore-based Events High was started by Nikesh Garera and Arvind Batra in 2016, and is backed by Axilor Ventures. The platform clocks 1.5 million unique users per month and said in the statement that it reported 10x growth in bookings in the last year.
Experiences and activities segment
It looks like that hotel booking is becoming crowded as players like Google has entered the space. And hence, platforms listing hotels are expanding their offerings such as activities and experiences. Airbnb launched Experiences last year, and is already clocking 10,000 users every month and is expecting profitable by next year. Other popular players in the space are PlacePass, FareHarbour, TripAdvisor’s Viator, GetYourGuide, Klook etc.
In India, Treebo competes with OYO, FabHotels, and OTAs like MakeMyTrip, Cleartrip etc.
OYO has made entry into holiday packages segment with OYO Total Holidays and expects 10% of its total revenues to come from the segment in next 5 years. In its new offering, OYO list packages including, hotels, inter and intra travel service, tourist guides, meals, flights tickets, visa service etc.