Mumbai: Online travel agency, Yatra Online Pvt. Ltd, on Saturday said it has agreed to acquire a 100% stake in rival travel and hotel booking site Travelguru.com from the US-based travel agency Travelocity.com LP.
In a media statement, Yatra.com said Travelguru will continue to operate as a separate entity under its existing brand name. When completed, this will be Yatra.com’s fourth major acquisition in the last 18 months, following the purchase of Travel Services International Pvt. Ltd in October 2010, MagicRooms in June 2011 and Buzzintown in January, 2012.
Travelguru has a hotel distribution network offering access to more than 6,500 hotels in India and 72,000 hotels worldwide.
Dhruv Shringi, co-founder and chief executive officer at Yatra.com said this acquisition will significantly strengthen his company’s domestic hotels and holidays business.
“It is a cash acquisition of 100% stake of Travelguru. We acquired it because it has a good supplier relation with 6000 to 7000 hotels and it has a strong brand presence. Yatra and Travelguru together have become the largest domestic hotel agent,” Shringi told Mint.
He did not disclose the acquisition amount.