EaseMyTrip shares climb 4% from day's low price; here's why

Shares of EaseMyTrip (Easy Trip Planners) turned positive in afternoon trade on Tuesday. The stock rose 4.35 per cent to hit Rs 50.91 from a day's low value of Rs 48.79. Today's rebound in the share price came after the online travel platform said it has parterned with Radisson Hotel Group to build a 150-room Radisson Blu Hotel in Ayodhya along with Jeewani Group.

"A greenfield project, Radisson Blu Hotel, Ayodhya is expected to open in 2027. The hotel is strategically located within two kilometers of Shri Ram Mandir, Ayodhya. It is at a convenient distance from the Maharishi Valmiki International Airport, Ayodhya Railway Station and further enjoys excellent road connectivity via National Highway-27," EaseMyTrip stated in an exchange filing.

The hotel will boast excellent visibility while providing effortless connectivity to the region, it added.

"Our decision to open another hotel in Ayodhya is greatly influenced by the robust guest demand and positive feedback that underscores the attractiveness of this holy city. Ayodhya stands strong as a promising market for Radisson Hotel Group, occupying a significant position in our expansion plans in 2024 and beyond.” said KB Kachru, Chairman Emeritus and Principal Advisor, South Asia, Radisson Hotel Group.

EaseMyTrip said the hotel will provide a seamless blend of opulence and comfort for the guests. "From culinary venues to recreational facilities like a swimming pool, fitness center, spa, and expansive banquet halls, the hotel also makes an ideal choice for corporate events and social gatherings," it further stated.

"This collaboration reflects our commitment to enhancing hospitality offerings in the city and providing exceptional experiences to travellers. By joining forces, we aim to set new benchmarks in the hospitality industry and create a landmark destination in Ayodhya. Through this collaboration, we aim to provide a world-class hospitality experience for guests visiting Ayodhya with a blend of our expertise in the region," said Nishant Pitti, CEO & Co-Founder, EaseMyTrip and an investor in Jeewani Group.

As of December 2023, promoters held 64.30 per cent stake in the company.

 

 

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