SUMMARY
- EaseMyTrip acquires 49% stake in Planet Education Australia for ₹39.20 Cr to enter the international study tourism segment.
- The company also plans to acquire a 50% stake in Jeewani Hospitality for ₹100 Cr, aiming to establish a five-star hotel in Ayodhya.
- Both deals are structured as equity share swaps, marking strategic growth in diversified sectors.
In a strategic move to broaden its service portfolio, EaseMyTrip, one of India’s leading online travel platforms, has announced two significant acquisitions:
EaseMyTrip will acquire a 49% stake in Planet Education Australia, a study abroad consultancy, for ₹39.20 crore via an equity share swap. This acquisition allows EaseMyTrip to enter the study tourism sector, catering to students aspiring to study internationally.
Planet Education Australia is a prominent consultancy offering services like university admissions, visa assistance, and educational counseling for students. The partnership aligns with EaseMyTrip’s strategy to diversify its offerings and tap into the booming education tourism market, a sector with growing demand among Indian students.
EaseMyTrip’s board has also approved the acquisition of a 50% stake in Jeewani Hospitality Private Limited for ₹100 crore, again through a share swap. This investment aims to establish a five-star hotel in Ayodhya, a city experiencing a surge in tourism following the construction of the Ram Mandir.
This venture marks EaseMyTrip’s foray into hospitality, complementing its core travel business while leveraging Ayodhya’s potential as a religious and cultural tourism hub.
Both acquisitions highlight EaseMyTrip’s vision to diversify its portfolio and establish a presence in new markets. By combining its travel expertise with study tourism and luxury hospitality, the company aims to attract a broader customer base and enhance its revenue streams.
EaseMyTrip co-founder Nishant Pitti stated, “These acquisitions reflect our commitment to growth and diversification. With Planet Education, we’re entering a promising market that aligns with the aspirations of Indian students. In Ayodhya, we’re creating a landmark hospitality project to cater to the increasing influx of tourists.”
The transactions are expected to be completed in Q1 2025, marking a significant step in EaseMyTrip’s journey of expanding into diversified travel-related sectors.
