MakeMyTrip Limited Acquires Majority Stake in Quest2Travel.com

New York, April 30, 2019 (GLOBE NEWSWIRE) -- New Delhi and New York, April 30, 2019 MakeMyTrip Limited MMYT, has acquired a majority shareholding interest in Mumbai based ‘Quest 2 Travel.com 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. 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.  Q2T has been enhancing its platform to meet the requirements of corporate clients for the past several years and serves some of India's well-known and large corporates including Tata Motors, Aditya Birla Group, Times Group, HDFC Ergo and Thermax.

Deep Kalra, Founder & 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." 

Abhay Rangnekar, Founder and CEO of Q2T said, "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."

About MakeMyTrip Limited

We own and operate well-recognized online brands, including MakeMyTrip, Goibibo and redBus.  Through our primary websites, www.makemytrip.com, www.goibibo.com, www.redbus.in, and mobile platforms, travelers can research, plan and book a wide range of travel services and products in India as well as overseas.  Our services and products include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, rail ticketing, bus ticketing, car hire and ancillary travel requirements such as facilitating access to third-party travel insurance and visa processing.  We provide our customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, over 61,500 domestic accommodation properties in India and more than 500,000 properties outside of India, Indian Railways and all major Indian bus-operators.

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