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Easemytrip acquires a majority stake in hotel booking marketplace cheQin

Easemytrip acquires a majority stake in hotel booking marketplace cheQin

This acquisition aims strengthen the travel tech platform’s hold in technology, adaptability, personalization, and the acceptance of bulk booking and long stay requests.

Easemytrip has over 45,000 travel agents and 11 million customers in all. Easemytrip has over 45,000 travel agents and 11 million customers in all.

Travel tech company Easemytrip has announced that it has acquired 55 per cent stake in hotel booking marketplace company, cheQin, through the primary route. cheQin enables buyers and hoteliers real-time interaction between hoteliers and users. It has over 60,000 properties, including three, four and five-star hotels, private stays, vacation rentals, beach resorts among others. Moreover, more than 5,000 hotels in Singapore, Thailand, Indonesia, Vietnam, Malaysia, and the United Arab Emirates have recently signed agreements with it.

This acquisition strengthens the travel tech platform’s hold in technology, adaptability, personalization, and the acceptance of bulk booking and long stay requests. Additionally, with this Easemytrip will also be able to give its customers a wide range of innovative hotel booking options at the most competitive prices. 

Easemytrip has over 45,000 travel agents and 11 million customers in all.

Commenting on this acquisition, Nishant Pitti, CEO and Co-Founder of EaseMyTrip, said, “EaseMyTrip is focusing on the growth of its non-air segments. This acquisition is a step towards revolutionizing the hotel business altogether. Through cheQin, which is a unique app in the hotels industry, EaseMyTrip will diversify its hotel booking experience through technology support. We sternly believe that cheQin provides unparalleled options in all segments and has the potential to scale and strengthen cross-selling.”

Venu G Somineni, Founder of cheQin said that its robust bargaining algorithm would draw in a lot of customers in no time. ”We really believe that cheQin can work miracles for last-minute, bulk, long-term, and short-term bookings. We expect to strengthen the market in the years to come, thanks to our partnership with EaseMyTrip,” he noted.

Easemytrip on Monday also announced that it is establishing offline stores via a franchisee model. This move will "allow the customers to have an in-store retail experience," the NSE-listed firm said in its regulatory filings. 

 

Published on: Jan 24, 2023, 6:44 PM IST
Posted by: Bhavya Kaushal, Jan 24, 2023, 6:35 PM IST