India: MakeMyTrip acquires majority stake in

Online travel company MakeMyTrip Ltd on Tuesday announced that it has acquired a majority stake in Mumbai-based Quest 2 India Pvt Ltd (Q2T), an internet based corporate travel management company.

Financial details of the deal were not disclosed.

“This investment will help us extend our service offerings to large corporates for their travel requirements while helping Quest2Travel benefit from the travel expertise and depth of supplier relationships that MakeMyTrip has forged over the years. With this investment we are making a decisive foray into providing travel solutions for corporate customers as well,” Deep Kalra, Founder & Group CEO, MakeMyTrip said.

Founded in 2000, Q2T’s enterprise software helps large corporate clients manage their end-to-end employee travel needs on a real-time basis. Its online booking platform offers the entire workflow of travel procurement, including an employee’s travel request approval, corporate policy compliant online booking, invoice generation, expense management, reimbursement and final invoice settlement.

Commenting on the acquisition, Abhay Rangnekar, founder and CEO of Q2T said, “Amongst other benefits, it will help us offer superior service offerings with wider inventory and better pricing for air, hotel bookings and other employee travel services.”

Q2T counts some of the large Indian corporates including Tata Motors, Aditya Birla Group, Times Group, HDFC Ergo and Thermax among its clients.

Nasdaq-listed MakeMyTrip offers services and products including air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, rail ticketing, bus ticketing, car hire and ancillary travel requirements, among others. It also owns Goibibo and redBus brands.

Recently, China’s Ctrip, the world’s second largest online travel company, increased its ownership in MakeMyTrip to 49 per cent, paving an exit for early investor South Africa-based media group Naspers Limited.

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