NEW DELHI: Online travel platform EaseMyTrip on Thursday announced the acquisition of hospitality management firm Spree Hospitality for an undisclosed amount.
EaseMyTrip aims to expand Spree to 200 properties in the next five years, a statement by the online travel platform stated.
This acquisition will help EaseMyTrip to add a new revenue vertical for the company and enable it to scale up its hotel and holiday portfolios.
This would also enable the online travel platform to offer exclusive deals and offer on Spree Hospitality to its customers while doing bookings, EaseMyTrip added.
Speaking on the development EaseMyTrip Co-Founder Prashant Pitti 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 a recovering hospitality sector and quickly scale up the business to meet the evolving needs of the modern traveller."
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 5 years becoming one of the biggest names in the Indian hospitality sector," he said.
Founded in 2011, Spree has 45 properties, 1200 keys including hotels, resorts, clubhouses, and guest houses across India.