Travelguru Goes Shopping: Buys Out Desiya.com For $25 million
(Rate this article)
Loading ...Email It!
These days we hear a lot about company mergers, partnership and all. Few days back, we heard about Google partnering with HolidayIQ. This partnership simplified the local search for hotels, resorts and so on. Travelguru, one of the India’s leading travel website conquered Desiya.com, your gateway to India for $25 million (approx Rs 100 crore).
Desiya.com will be now operating as a subsidiary of Travelguru. Desiya.com is a famous travel website in UK. This will help Travelguru to build a strong base in UK’s market. Online travel industry in growing. Presently, the online travel industry is worth $1.3 billion and is expected to reach $2 billion by 2008. The merger will help the company to almost double its turnover.
Presently, 90% of $42 million Travelguru’s revenue comes from just booking hotels. With the merger with Desiya.com they expect to reach the target of $80 million by the end of next year. This merger will be beneficial to Travelguru as they will have 1000 travel agents and 225 travel portals with 1500 hotels in its inventory all over India which will be get added to their agents, travel portals and hotels.
Travelguru aims to be one of the strongest online travel portal. These online travel industries are now interested in getting partnered with the off-line travel industries. In today’s world, if a small fish wants to survive in the ocean it needs a big fish to cover it. Something similar happened when Desiya.com was concerned.
India’s online travel industry ranks fourth in the Asia-Pacific region after China, Japan and Australia. I am sure if we continue to progress like this there will be day when India will rank 1st in the online travel industry.
Loading ...
Leave a Reply