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Our Bureau

Mumbai, Dec. 12

TravelPort India, has acquired 100 per cent stake in Sri Balaji Tours and Travels, the company announced in a press release on Tuesday. The value of the deal was not disclosed.

The acquisition is part of TravelPort's strategy to promote Goa Tourism. Balaji Tours and Travels has a strong presence in Goa with 90 per cent of its Rs 20 crore turnover last year coming from hotel bookings in the State. The deal also gives TravelPort access to Balaji's 400 agents and offices located in five cities.

According to the TravelPort CEO, Mr Javed Akhtar, the company plans to invest a further Rs 5 crore to underwrite 2-3 hotel properties in Goa.

The money will also be used to market Goa to regions such as Central Europe and to launch an online travel portal specifically for Goa - www.gogoaonline.com.

More Stories on : Mergers & Acquisitions | Tourism | Other States

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