MakeMyTrip acquires Quest2Travel to bolster its position in the corporate travel space
MakeMyTrip (MMT) Limited on Tuesday said that it has acquired a majority stake in Mumbai-based Quest2Travel 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.
In addition, 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.
On the acquisition, Deep Kalra, Founder and 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.”
Q2T has been enhancing its platform to meet the requirements of corporate clients for the past several years, and its clientele includes Tata Motors, Aditya Birla Group, Times Group, HDFC ERGO, and Thermax, among others.
Abhay Rangnekar, Founder and CEO of Q2T, added,
“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.”
Just last week, MakeMyTrip Limited said that its investor Naspers Limited and Chinese travel services provider Ctrip have entered into a share exchange agreement. Under this agreement, Naspers will exchange its entire shareholding in MakeMyTrip for newly issued shares of Ctrip and Ctrip will acquire Naspers’ current shareholding in MakeMyTrip.
Apart from operating its own platform, MakeMyTrip also operates brands including Goibibo and redBus. Through these platforms MMT allows users to book air, bus and rail tickets, hotels and alternative accommodations bookings.