A Green Horizon: EaseMyTrip’s Strategic Leap into Sustainable Hospitality
In a strategic move to diversify its portfolio, leading travel tech company EaseMyTrip has made a significant foray into the hospitality industry by acquiring a non-controlling stake of approximately 13% in Eco Hotels and Resorts Limited. This milestone was achieved through a share swap deal, involving the exchange of EaseMyTrip’s investment in Eco Hotels India Private Limited for shares in Eco Hotels and Resorts Limited.
The intricacies of the deal were disclosed in a statement by EaseMyTrip, revealing that the company’s investment in equity shares of Eco Hotels India Private Limited was swapped with equity shares of Eco Hotels and Resorts Limited at a 1:1 ratio. In the process, EaseMyTrip secured ownership of 40,00,000 equity shares of INR 10 each of Eco Hotels and Resorts Limited, which were issued on a preferential basis.
Eco Hotels and Resorts Limited, a BSE-listed company, is positioning itself as a major player in the hospitality sector with a focus on owning, developing, and managing assets of three-star premium and economy brands. This move aligns with EaseMyTrip’s broader vision for the strategic investment – to actively promote and support environmentally friendly practices within the hospitality industry.
By venturing into the hotel and hospitality space, EaseMyTrip aims to leverage its expertise in the travel tech domain to contribute positively to the sustainable development of the hospitality sector. This synergy between technology and eco-conscious practices reflects the company’s commitment to fostering responsible and green travel.
This strategic investment not only marks EaseMyTrip’s expansion beyond its traditional domain but also underscores its confidence in the potential growth and impact of the hospitality sector. As the travel landscape continues to evolve, this move positions EaseMyTrip as a key player with a vested interest in shaping the future of both travel and hospitality.
conclusion
EaseMyTrip’s acquisition of a 13% stake in Eco Hotels and Resorts Limited represents a pivotal moment for the company as it ventures into the dynamic and evolving world of hospitality, bringing with it a commitment to sustainability and innovation. As the partnership unfolds, it will be intriguing to witness the synergies that emerge and the positive contributions these two industry leaders can make to the ever-changing landscape of travel and hospitality.