EaseMyTrip, India’s second-largest online travel platform, is expanding its international presence by incorporating wholly-owned subsidiaries in the Philippines, Thailand, and the United States of America as part of its second phase of the global expansion strategy. The company said it has forayed into these new countries anticipating a huge pent-up global demand for the travel and tourism sector in the coming months.
Shares of EaseMyTrip breached Rs 600 mark for the first time on Thursday on the BSE, up 12%, post this announcement.
The Delhi-based travel portal has previously established its presence across countries such as the UAE, Singapore, and the UK to cater to their Indian customers travelling to these countries. However, as a part of this new phase of expansion, the company will launch a localized travel search engine in each global subsidiary to enable the customers in the region to use its services.
Currently, the search engine developed for the UAE is live, and the subsidiaries in Singapore, the UK, Philippines, Thailand, and the United States of America are set to follow suit. The subsidiaries will also replicate the lean and cost-effective operating model that the brand has successfully adopted in India for over 13 years and will continue to pass on maximum benefits to customers in the respective regions, the company said in a statement.
The company also said it will also explore opportunities with local companies and services across these countries to not only strengthen offerings within these countries but also to enhance the travel experience of their customers who visit these countries.
Speaking on the expansion strategy, Nishant Pitti, CEO and Co-Founder, EaseMyTrip said, "The introduction of local search engines in these countries marks a new chapter in our journey as we present our best-in-class services to a new set of customers. Over the past 13 years, we have established a strong foothold in the Indian travel industry, and we look forward to launching our unique business model and replicate our success in these global markets as well. We are excited about the opportunities that this new phase will bring in, and we are optimistic that this will pave the way for significant expansion prospects in the future."