Travelocity Global, the US based online travel firm, has acquired Travelguru, one of India's largest online hotel distribution networks, for an undisclosed sum.
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Industry sources, who termed the deal as a distressed sale, pegged the acquisition size at between Rs 45 crore and Rs 50 crore.
Travelocity Global said that the Travelguru will remain a separate entity with co-founder and CEO Ashwin Damera continuing to head its operations.
Travelguru between its three offices in Mumbai, Delhi and Bangalore employs close to 150 people.
Roshan Mendis, regional vice-president of Travelocity Asia Pacific, said the acquisition will complement the company's online business and help it access more than 4,000 hotels in India.
Industry sources told DNA that Travelguru has been in the red for quite sometime and Damera had been trying hard to find a buyer for over a year now, reaching out to the likes of expedia.com, makemytrip.com and Cox & Kings.
Travelguru since its inception in 2005 has received two rounds of venture capital funding. It raised $25 million in 2006 -- $10 million from Sequoia Capital India, which the latter followed up with a $15 million co-investment with Battery Venture.
In 2007, Travelguru acquired travel portal, desiya.com, reportedly for $25 million in 2007.
source|Ashish K Tiwari/Daily News & Analysis
Showing posts with label Co- Travelocity. Show all posts
Showing posts with label Co- Travelocity. Show all posts
Thursday, August 20, 2009
Tuesday, July 14, 2009
NEWS| Taj + Travelocity = YEAH!
Taj Holidays, India's leading holiday brand, has partnered with Travelocity to introduce http://www.tajholidaysflynstay.com - a comprehensive one stop shop for all holiday related requirements.
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It is for the first time that a holiday brand in India has embarked upon a "dynamic" bundled platform where customers can plan their travel through various permutations and combinations of flight selection, fare classes, package options, hotel rates and room categories.
Aimed at simplifying the holiday planning process, creating a user friendly platform and bridging the information gap, Taj Holidays Fly-N-Stay endeavors to create a hassle-free holiday package for the user. The entire domestic flight inventory of Travelocity with some of the lowest fares is available to those booking on http://www.tajholidaysflynstay.com
TEXT!!!
story continues below>>
It is for the first time that a holiday brand in India has embarked upon a "dynamic" bundled platform where customers can plan their travel through various permutations and combinations of flight selection, fare classes, package options, hotel rates and room categories.
Aimed at simplifying the holiday planning process, creating a user friendly platform and bridging the information gap, Taj Holidays Fly-N-Stay endeavors to create a hassle-free holiday package for the user. The entire domestic flight inventory of Travelocity with some of the lowest fares is available to those booking on http://www.tajholidaysflynstay.com
TEXT!!!
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Tuesday, January 08, 2008
NEWS| Travelocity launches in India
The global online travel services company Travelocity has officially launched its suite of services in India. The company says that the trend of booking online for travel destinations is picking up in the country.
The soft launch happened in March. Travelocity India MD Himanshu Singh says that one of the highlights is the dynamic packaging whereby one can choose destinations, preferred airlines as well as hotels.
The aim is to provide as much flexibility as possible. The company offers access to 8000 hotels across 126 Indian cities. One can also choose overseas destinations like Frankfurt and Chicago, and book flights. Globally the site offers access to 72,000 hotels, 1000 cruises.
One can also use the online travel agency (OTA) to tailor one's schedule and add extra destinations. The company has an arrangement with different Indian airlines as well as with hotels. In India, over the past year, it has extended relationships in the hospitality industry to beyond the five star and four star hotels.
The aim is to cater to every budget and class of airline traveller. Singh says that the response from the Indian hospitality industry has been positive. Companies that associate with it also get visibility on Travelocity's global network.
The company also has a weekend getaway feature. This looks to take advantage of the fact that 52 per cent of leisure travel in India happens over the weekend. It offers driveaways and flyaways. The site also has the concept of destination stores. One can find out information on one's favourite destination, various packages available, different airlines and sightseeing activities. The lowest cost option comes up first on the screen. Going forward, the company will add more features like Visa and car rental services.
In terms of marketing, the company is focusing on search engine marketing and online displays. It is also doing print and oudoor activities in Chennai. It will look at using television sometime in the future.
Travelocity claims to be the sixth largest travel agency in the US. In 2006, it booked $10.1 billion in travel worldwide. Travelocity is owned by Sabre Holdings which specialises in travel commerce.
The soft launch happened in March. Travelocity India MD Himanshu Singh says that one of the highlights is the dynamic packaging whereby one can choose destinations, preferred airlines as well as hotels.
The aim is to provide as much flexibility as possible. The company offers access to 8000 hotels across 126 Indian cities. One can also choose overseas destinations like Frankfurt and Chicago, and book flights. Globally the site offers access to 72,000 hotels, 1000 cruises.
One can also use the online travel agency (OTA) to tailor one's schedule and add extra destinations. The company has an arrangement with different Indian airlines as well as with hotels. In India, over the past year, it has extended relationships in the hospitality industry to beyond the five star and four star hotels.
The aim is to cater to every budget and class of airline traveller. Singh says that the response from the Indian hospitality industry has been positive. Companies that associate with it also get visibility on Travelocity's global network.
The company also has a weekend getaway feature. This looks to take advantage of the fact that 52 per cent of leisure travel in India happens over the weekend. It offers driveaways and flyaways. The site also has the concept of destination stores. One can find out information on one's favourite destination, various packages available, different airlines and sightseeing activities. The lowest cost option comes up first on the screen. Going forward, the company will add more features like Visa and car rental services.
In terms of marketing, the company is focusing on search engine marketing and online displays. It is also doing print and oudoor activities in Chennai. It will look at using television sometime in the future.
Travelocity claims to be the sixth largest travel agency in the US. In 2006, it booked $10.1 billion in travel worldwide. Travelocity is owned by Sabre Holdings which specialises in travel commerce.
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