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Nasdaq-listed online travel services firm MakeMyTrip India Pvt Ltd has acquired Hotel Travel Group (HT Group) for $25 million.
Of the total $25 million, $15 million was paid partly in cash and partly in the form of MakeMyTrip shares on November 6. The balance $10 million is in the form of MakeMyTrip shares in three annual tranches through March 2016.
Online travel Web site HT Group has been operating the website www.hoteltravel.com for more than a decade in South-East Asia, and its booking platform offers hotel reservation across the world.
Speaking on the acquisition, Deep Kalra, Founder and CEO, MakeMyTrip.com, said: “Access to HotelTravel.com’s inventory will help us significantly expand the range of best-value hotel offerings available to Indian customers. The acquisition will help to build a stronger presence in the South-East Asia region.”
nivedita.ganguly@thehindu.co.in
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