Online Travel Platform EaseMyTrip acquires Spree Hospitality for Rs. 18.25 crore
- ByTejika Bajaj | November 20, 2021
Online travel platform EaseMyTrip recently announced the acquisition of Hospitality Management Company Spree Hospitality for a valuation of Rs. 18.25 crore. The hospitality company would add a new revenue platform for the travel platform and allow it to diversify its portfolio.
EaseMyTrip further announced that all clients would get exclusive offers on Spree Hospitality while making booking on the travel platform.
Commenting about the recent acquisition, the co-founder of EaseMyTrip, Prashant Pitti stated, “There is a synergy between EaseMyTrip and Spree Hospitality and the company is leveraging the asset-light model to build a lean and efficient infrastructure. With this acquisition, we believe that EaseMyTrip is well-positioned to unlock the market potential of a recovering hospitality sector and quickly scale up the business to meet the evolving needs of the modern traveller. We will enable Spree to expand to 200 properties in the next five years becoming one of the biggest names in the Indian hospitality sector.”
Founded in 2011 by Keshav Baljee, Spree Hospitality has a portfolio ranging from hotels, residential clubs and corporate guest houses. The hospitality management firm has 1200+ chains of hotels across Bengaluru, Mumbai, Pune, Chennai, Goa, Hyderabad, Kochi, Manali, Amritsar, Dehradun, Coimbatore and Delhi besides others. During the pandemic, the startup chain acquired 18 hotel chains and added 250 employees to support its expansion plans.
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