Travelocity is selling its Travelguru, an Indian hotel distribution network, to Yatra.com, the Indian online travel company that is backed by Norwest Venture Partners, Reliance Capital, Network 18, Intel Capital and Valiant Capital Partners, among others. Travelocity initially acquired Travelguru a few years ago in a deal estimated to be for $10 million-$12 million.
GURGAON, India, Jun 29, 2012 — Yatra.com, India’s leading online travel company, today announced it has agreed to acquire a 100% stake in Travelguru from Travelocity Global. Travelguru will continue to operate as a separate entity under its existing brand name.
The acquisition of Travelguru will strengthen Yatra.com’s position as the leading company in the Indian online travel space and substantially extend its position as the premiere aggregator and seller of domestic hotels and holidays in India, adding to its already strong offerings for flights and outbound holidays.
Travelguru is India’s largest hotel distribution network offering access to more than 6500 hotels in India and 72,000 hotels worldwide. It offers travelers the opportunity to plan and purchase their travel in a transparent, easy and customizable manner with instant bookings and confirmations. Keenly focused on growing Indian hotel demand, Indian hotel supply and a wide distribution network, Travelguru facilitates a broad range of travel options and recommendations for domestic as well as international travelers.
Commenting on this new development, Mr. Promod Haque, Managing Partner, Norwest Venture Partners (NVP) and Chairman of Yatra.com, said, “We seeded and launched Yatra.com six years back and are immensely proud of the company’s successful growth and execution. We believe that this acquisition will significantly broaden and diversify Yatra’s business and marks an important milestone for the future.”
Commenting on this new development, Mr. Dhruv Shringi, co-founder and CEO, Yatra.com, said, “This acquisition will significantly strengthen our domestic hotels and holidays business and reinforces our growth strategy and long term commitment and belief in the Indian online travel industry. Not only will this consolidation increase our customer base, but it also widens our product portfolio and leverages our ability to bundle solutions, offering better deals and value propositions to our customers. The acquisition will also provide Travelguru’s hotel partners with a much wider distribution network through Yatra.com and its B2B network of 10,000+ agents.”
Previously, Yatra.com acquired ticket consolidator Travel Services International Pvt. Ltd (TSI) to strengthen its foray into the B2B consolidation space. In July 2011, Yatra.com acquired hotel aggregation company, MagicRooms, offering access to a live inventory of over 3,000 hotels across India. In January, 2012, premier event and entertainment promotion portal Buzzintown was acquired by Yatra.com expanding Yatra’s portfolio and giving consumers the access to service beyond travel.
About Norwest Venture Partners (NVP)
Norwest Venture Partners (NVP) is a global venture and growth equity investment firm that manages more than $3.7 billion in capital. Headquartered in Palo Alto, California, NVP has subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel and Hong Kong. NVP makes early to late stage venture and growth equity investments across a wide range of sectors including: information technology, business services, financial services, infrastructure, technology enabled services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 50 years and has funded over 500 companies since inception. For more information visit: www.nvp.com .
Yatra.com is India’s leading online travel company. Positioned as a brand “Creating Happy Travelers,” it provides information, pricing, availability, and booking facility for domestic and international air travel, railway reservation, hotel bookings, holiday packages, buses, and car rentals. We offer a host of travel services designed to make business and leisure travel easier.
Based in Gurgaon, India, Yatra is a one-stop-shop for all travel-related services. A leading consolidator of travel products, Yatra.com provides reservation facility for more than 5,000 hotels across 336 cities in India and over 90,000 hotels around the world. Through continued excellence in providing travel solutions, responses to booking travel online through Yatra.com have also reached new heights with the company doing 20,000 domestic tickets and 1000 hotels and holiday packages bookings a day.
Customers can access Yatra.com through multiple ways: through our user-friendly website, 24×7 multi-lingual call center, a countrywide network of Holiday Lounges and Yatra Travel Express stores or through their mobile phones. Yatra.com provides booking facility for all the popular as well as exotic national and international destinations. Launched in August 2006, Yatra is today ranked as the leading provider of consumer-direct travel services in India. Yatra.com has emerged as the most trusted travel brand in India and we were recently voted ‘Most Trusted Brand of India’ in the online travel category by Brand Equity. Yatra.com also received the coveted most preferred online travel company award twice at the CNBC/Awaaz Consumer Travel Awards.
Yatra.com is backed by well-known and reputable investors: Norwest Venture Partners (NVP), Reliance Capital, Network 18, Intel Capital and Valiant Capital Partners.