Online travel company MakeMyTrip has announced plans to acquire a majority stake in regional tour operator Flamingo Transworld. The strategic deal is expected to strengthen MakeMyTrip’s curated international travel packages and enhance its presence in the fast-growing experiential tourism segment.
Online travel services provider MakeMyTrip on Thursday (March 5) said it will acquire a majority stake in regional tour operator Flamingo Transworld for an undisclosed sum.
“The company has entered into an agreement to acquire a majority stake in Flamingo Transworld, one of India’s leading regional tour operators, subject to the fulfilment of certain closing conditions,” MakeMyTrip said in a statement.
Commenting on the proposed deal, MakeMyTrip, Co-Founder and Group CEO, Rajesh Magow, said, ”Flamingo aligns closely with the growth strategy of our Holiday Packages business. It is a strong, growing business that has developed a unique moat in the group travel domain.”
He further said,”We plan to leverage the complementary customer base, products and distribution focus between the two brands to widen holiday package options for our customers.” Flamingo Transworld Director and Co-Founder, Sanjay Shah said for over three decades, Flamingo has built something unique in Indian travel, genuine trust. From chef-led tours to regional language guides, the brand has grown by going deeper.”
Flamingo has created a strong affinity in regional markets of Gujarat, Maharashtra, Rajasthan and Madhya Pradesh with its group tour services over its last 30 years of its operations, the statement said.
Its international and domestic group travel packages, which are currently sold largely through 51 offices across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh, will complement MakeMyTrip’s established Holiday Packages business and help the platform penetrate deeper into markets across India, the company said.
In the recent past, MakeMyTrip has taken a calibrated approach to inorganic growth, with strategic acquisitions, including QuestToTravel in corporate travel bookings, Simplotel in hotel technology, BookMyForex in travel forex, Savaari in intercity mobility and Happay in corporate spend management.