MakeMyTrip acquires European startup for $5 million to boost global hotel booking offerings

Steven Millward
11:36 am on Feb 10, 2014

MakeMyTrip

Indian online travel agent MakeMyTrip (NASDAQ:MMYT) has acquired the Netherlands-based hotel booking site EasyToBook. MakeMyTrip’s disclosure to investors notes that it purchased the startup and invested a sum of money into it, and the total spent comes to $5 million.

MakeMyTrip will take advantage of its ownership of the hotel-specialist site to “enhance the international hotel room offerings for customers traveling overseas, particularly to Europe which is a key tourist destination for Indians.” It’ll also work the other way around, with EasyToBook apparently set to add more Indian listings.

MakeMyTrip is India’s biggest travel site. Despite making a net loss of $9.1 million in its Q2 2013 financials, the company saw a 51.5 percent year-on-year increase in revenue from hotel bookings and package tours. That’s the fastest-growing segment for the site, which might have spurred the Indian firm to strengthen its hand with this acquisition.

(Hat-tip to Medianama for spotting this)

(Editing by Josh Horwitz)

(And yes, we're serious about ethics and transparency. More information here.)

There are no replies yet. Start the ball rolling by posting a new reply!

Read More