India's MakeMyTrip Acquires HotelTravel.com for $25 Million
Medianama reports that India’s MakeMyTrip (NASDAQ:MMYT - News) has acquired HotelTravel.com for $25 million:
The acquisition is in line with MakeMyTrip’s strategy of strengthening its presence in hotel and holidays segment in India and South East Asia, as the group has tie ups with approximately 80,000 hotels across the world. So MakeMyTrip will be able to increase its hotel inventory specifically in the regions, which are popular among Indian travelers.
MakeMyTrip’s second quarter financial report notes that HotelTravel.com is particularly well-established in Thailand, having operated there for more than a decade. It also has a strong presence in Singapore and Malaysia.
