Online travel tech platform EaseMyTrip has acquired a 55 per cent stake in hotel booking marketplace cheQin, for an undisclosed amount, through the primary route. The move is expected to strengthen EaseMyTrip’s presence in hotel booking segment.
In a statement to stock exchange, the company said the unique bargaining algorithm of cheQin brings in the top-five lowest offers by hoteliers. And being a “unique real-time marketplace”, it allows travellers bargain with hoteliers without any effort.
The acquisition strengthens EaseMyTrip’s already strong hotel channel in terms of technology, adaptability, personalisation, and the acceptance of bulk booking and long stay requests, the company added in its statement.
Commenting on the acquisition, Nishant Pitti, CEO and Co-founder, EaseMyTrip, said, the company is focussing on growing its non-air segments. “This acquisition is step towards revolutionising the hotel business altogether. Through cheQin, we will diversify the hotel booking experience through tech support. We believe that cheQin provides unparalleled options in all segments and has the potential to scale and strengthen cross-selling,” he said.
Through cheQin travellers can pay directly at the hotel and it also enables them to stay at the most value-for-money hotels. cheQin can be accessed through web (cheQin.club), android and iOS apps. On the other hand, the company uses the “cheQin” application to give hoteliers access to real-time booking requests and the ability to take control of their own bookings.
CheQin currently has over 60,000 properties that include star-rated hotels, private stays, holiday rentals, beach resorts, and inexpensive rooms. Over 5,000 hotels in Singapore, Thailand, Indonesia, Vietnam, Malaysia, and the UAE have recently inked agreements with cheQin too, the company said in its filing to the bourses.