Iconic caseYatra Online, India’s biggest business travel service provider, has today unveiled a major boost in its position as a market leader with the purchase of Globe All India Services Limited (Globe Travels), a top business travel service provider. This transaction, valued at INR 1280 million in cash, represents a strategic step to enhance Yatra’s stronghold in the business travel market.
This purchase brings in about 360 business customers to Yatra’s current roster of over 850 business customers, markedly increasing Yatra’s presence in the business travel market by a projected 40 per cent. Given that Globe Travels records yearly revenue of approximately USD 90 million, this agreement greatly solidifies Yatra’s status as a front-runner in business travel in India. The broader customer base gives Yatra greater leverage with vendors, allowing the company to obtain more advantageous conditions and provide better value to its clients.
Enhancement of MICE skills
World Travel Group is famous for its excellent skills in the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry. By combining World Travel Group’s knowledge with Yatra’s recently broadened MICE activities, Yatra is now considered one of the biggest participants in this rapidly developing area of India. This merger highlights Yatra’s dedication to offering detailed and personalized travel services to its business customers.
The purchase is anticipated to have an immediate positive impact on Yatra’s financial results, with Globe Travels’ Adjusted EBITDA margins exceeding 20 percent. By combining Yatra’s Corporate Self Booking Platform with Globe Travels’ predominantly offline operations, there’s a significant chance to unlock additional synergies and enhance value. Customers of Globe Travels will gain from the advanced digital platform of Yatra, offering improved operational efficiencies and decreased expenses.
Given the limited intersection of Yatra’s and Globe Travel’s customer groups, this merger offers a distinctive chance for Yatra to expand its range of customer segments across different sectors. Yatra intends to use this merger to recommend hotels and its expense tracking system to its newly merged partners, thereby enhancing its range of services available to Globe Travel’s corporate clients.
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“We’re overjoyed to extend the Yatra family’s hospitality to Globe Travels,” Dhruv Shringi, Co-Founder and CEO of Yatra Online, mentioned. “This merger fits seamlessly into our approach to solidify our foothold in critical sectors and regions, while bolstering our corporate travel and Meetings, Incentives, Conferences, Exhibitions (MICE) services. The superior service track record and knowledge base of Globe Travels enhance what we already provide, enabling us to offer a more extensive and customized travel solution to our customers throughout India.”
Yatra Online Limited holds the title for being India’s top company offering corporate travel services, serving more than 850 business clients and providing an extensive collection of digital travel services such as flights within India and abroad, hotel reservations, vacation bundles, and additional services. This organization has a network of roughly 108,000 accommodations and homestays spread over 1,500 Indian cities and close to 2 million accommodations worldwide, establishing itself as the biggest platform for Indian domestic hotels.
World Explorations Inc. is a renowned business travel solutions supplier recognized for its proficiency in handling business travel and meetings, incentives, conferences, and expos. It caters to around 360 business customers, securing its position as a dependable ally within the travel sector, boasting significant yearly income and a solid history of outstanding customer support.