| Topic : Mergers and Acquisitions |
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Startup World
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Activity:
Question posted: 08 29 2009 09:25:21 +0000,
0 answers, 256 views, last activity
07 06 2010 20:18:08 +0000
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In what seems to be a first of its kind deal where travelocity acquired and it has been valued at 10-12 million in the Indian online travel space. Travelocity the global travel giant has acquired India’s Travelguru.com which is focused on hotel bookings in India and Internationally. Travelocity is the leader in the world right now with more than $10 billion and operates: Travelocity Business for corporate travel mostly.
The acquisition will build upon the existing Travelocity India team and will also give them a strong network of hotels which is the USP that Travelguru has built over the years. Travelguru boasts a portfolio of more than 4,000 hotels in India, most of which are independent properties, and it also has a strong domestic customer base. The online travel players in India were struggling with all sorts of issues right from agency commissions to airlines launching their own travel portals.
So people, Will we see more investments or acquisitions in online travel space in future?
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