India’s MakeMyTrip Continues Push into Thailand with New $3.2M Acquisition

Just a few weeks after India’s MakeMyTrip (NASDAQ:MMYT) acquired the Thailand-based site HotelTravel for $25 million, the travel e-commerce site is continuing its Southeast Asia push by announcing today a new acquisition. This time, MakeMyTrip has acquired a majority stake in the Thai hotel aggregator ITC Group for $3.2 million.

ITC is a tour operator in Thailand which also runs a hotel reservations business. The deal gives MakeMyTrip a lot more offline connections on the ground in Thailand, and indicates – along with the HotelTravel buy-up – that Thailand is set to be a key outbound travel destination for India’s middle-class holiday-makers.

As an insightful guest post on our site explained earlier this year, MakeMyTrip has been leading the way in opening up affordable travel in India – especially by riding the wave of budget airlines. And so Thailand is a perfect fit for these leisurely, low-price get-aways.

[Source: VCcircle]