The shares of the Indian travel agency gained up to 3 percent after the company partnered with Radisson Hotel Group to build a 150-room Radisson Blu Hotel in Ayodhya.
With a market capitalization of Rs 8,904.50 crore, the shares of Easy Trip Planners Ltd were trading at Rs 50.25 per share, increasing around 1.23 percent as compared to the previous closing of Rs 49.57 apiece.
According to the company filing, Easy Trip Planners Ltd, together with Jeewani Group, has formed a strategic relationship with Radisson Hotel Group to build a 150-room Radisson Blu Hotel in Ayodhya City. Radisson Blu Hotel, Ayodhya, a greenfield project, is slated to open in 2027.
Furthermore, the agreement with Radisson Blu Hotel, Ayodhya represents a significant step forward in the company’s growth plan for India and the country’s high-potential tier 2/3 areas. The company’s choice to establish another hotel in Ayodhya was heavily impacted by strong guest demand.
Looking into the company’s financial, Easy Trip Planners Ltd’s revenue decreased by 1 percent from Rs 130 Crore in Q3FY23 to Rs 129 Crore in Q3FY24. During the same period, net profits increased by 13 percent from Rs 45 crore to Rs 51 crore.
In Q3 FY24, The company diversified its portfolio by acquiring a 13 percent stake in ECO Hotels and Resorts and signed an MOU with the Government of Uttarakhand.
Easy Trip Planners Ltd is the second-largest online travel platform, with over 20 million customers and 29 lac air segment bookings.
In Q2FY24, the firm generated Rs 366 million in gross booking revenue (GBR) from Dubai, representing a 53.8% growth from the previous year. The Dubai business’s year-to-date GBR stands at Rs 1,329 million.
The firm has access to over 400 airlines and 10,00,000 hotels in India and beyond, with a booking success rate of 98 percent.
Easy Trip Planners Limited is an Indian-based online travel portal. The company is in the business of offering travel and tourist reservation and booking services via the Easy My Trip web, Ease My Trip app and in-house contact center. Its business categories include air travel, hotel packages, and other services.
Written by:- Abhishek Singh
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