MAKEMYTRIP has acquired the Hotel Travel Group (HT Group) for US$25 million, a move that was disclosed alongside the company’s second quarter financial report.
HT Group, which boasts presence in Thailand, Singapore and Malaysia, has been operating the website www.hoteltravel.com for more than a decade, and has tie-ups with approximately 80,000 hotels across the world.
Listed on NASDAQ, MakeMyTrip’s acquisition of HT Group is the latest in the Indian OTA’s prowl to snap up companies, and is expected to help it strengthen its hotels and holidays segment in Asia.
“MakeMyTrip was faced with increasingly difficult operating conditions as the health of our domestic airline industry remains uncertain,” said chairman and CEO Deep Kalra. “However, we are confident and optimistic of our vision and investments in changing the way Indians book their hotels and holidays in the future, as this segment of the travel market remains largely underpenetrated online today.”
MakeMyTrip’s net revenue rose 25.8 per cent year-on-year to US$45.7 million in 2Q2013, versus US$43.8 million in 2Q2012.
