Easy Trip Planners Ltd., which operates travel platform EaseMyTrip, has acquired Spree Hospitality for an undisclosed sum, the company said in a statement on Thursday.
The acquisition will help EaseMyTrip add a new robust revenue stream, as Spree aims to expand to 200 properties in the next five years.
This is EaseMyTrip’s second acquisition in November. Earlier this month, it acquired business-to-business (B2B) travel platform Traviate for an undisclosed sum. Founded in 2016, this platform has more than 1.2 million hotels listed on it, the statement said.
In a statement, EaseMyTrip said Spree remained profitable even during the pandemic. It added that the hospitality management firm is debt-free and cash surplus. It lists more than a million customers, has 45 properties and 1200 keys of hotels, resorts, clubhouses, and guest houses across India. Additionally, customers using EaseMyTrip will be offered exclusive deals and offers with Spree Hospitality, the statement said.
“There is a synergy between EaseMyTrip and Spree Hospitality where we leverage 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 the recovering hospitality sector and quickly scale up the business to meet the evolving needs of the modern traveller.” Prashant Pitti co-founder of EaseMyTrip said in the statement.
“Spree has carved a niche for itself in the hospitality sector and we are thrilled to have them as a partner to strengthen our portfolio in the hotel and holiday space. 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,” he added.