MakeMyTrip Limited Acquires Majority Stake in Quest2Travel.com
April 30 2019 - 8:45AM
New Delhi and New York, April 30,
2019 MakeMyTrip Limited (NASDAQ: MMYT), has acquired
a majority shareholding interest in Mumbai based ‘Quest 2
Travel.com India Private Limited’ (“Q2T”), an internet based
corporate travel management company.
Through Q2T’s enterprise software, large
corporate clients are able to manage their end-to-end employee
travel needs on a real-time basis, in a transparent and secure
manner. 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. Q2T has been enhancing its platform to meet the
requirements of corporate clients for the past several years and
serves some of India’s well-known and large corporates including
Tata Motors, Aditya Birla Group, Times Group, HDFC Ergo and
Thermax.
Deep Kalra, Founder & Group
CEO, MakeMyTrip Limited said, “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. We have historically focused
on providing travel solutions for retail customers and with this
investment we are making a decisive foray into providing travel
solutions for corporate customers as well.”
Abhay Rangnekar, Founder and CEO of Q2T said,
“MakeMyTrip’s decision of investing in Q2T validates our belief of
being the best in the business. This partnership is a perfect fit
because it combines the best in corporate travel with the leader in
non-corporate travel. 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.”
About MakeMyTrip Limited
We own and operate well-recognized online
brands, including MakeMyTrip, Goibibo and redBus. Through our
primary websites, www.makemytrip.com, www.goibibo.com,
www.redbus.in, and mobile platforms, travelers can research, plan
and book a wide range of travel services and products in India as
well as overseas. Our services and products include air
ticketing, hotel and alternative accommodations bookings, holiday
planning and packaging, rail ticketing, bus ticketing, car hire and
ancillary travel requirements such as facilitating access to
third-party travel insurance and visa processing. We provide
our customers with access to all major domestic full-service and
low-cost airlines operating in India and all major airlines
operating to and from India, over 61,500 domestic accommodation
properties in India and more than 500,000 properties outside of
India, Indian Railways and all major Indian bus-operators.
Press contact:
Jonathan HuangVice President, Investor
RelationsMakeMyTrip Limited+1 (917)
769-2027Jonathan.Huang@Go-MMT.com |
Ruchica TomarDirector Communications MakeMyTrip
Limited +91-9999004623Ruchica.Tomar@Go-MMT.com |
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