Yatra Acquires Globe Travels to Strengthen Corporate Travel Portfolio
The acquisition will enable Yatra to leverage cross-selling opportunities for hotels and its expense management platform
Yatra Online has entered into a definitive agreement to acquire 100% of Globe All India Services Limited (Globe Travels), a premier corporate travel services provider for Rs. 128 crore in cash.
Through this acquisition Yatra will gain Globe Travel’s robust portfolio of approximately 360 corporate customers and annual gross bookings of approximately USD 90 million. This strategic acquisition further solidifies Yatra’s position as the leader in the corporate travel sector and marks a significant expansion of its corporate customer footprint in India.
The acquisition will expand Yatra’s reach and market share by adding 360 Globe customers to its current base of over 850 corporate clients. This increased market leadership also enhances Yatra’s positioning with suppliers, allowing the company to secure more favorable terms and deliver greater value to its clients.
The acquisition will enable Yatra to leverage cross-selling opportunities for hotels and its expense management platform, and to provide comprehensive travel solutions tailored to the unique needs of these customers.
Dhruv Shringi, co-founder and CEO of Yatra stated, “We are thrilled to welcome Globe Travels to the Yatra family. This acquisition aligns with our strategy to deepen our presence in key verticals and markets while further strengthening our corporate travel and MICE capabilities. Globe Travels’ expertise in corporate travel and MICE and outstanding service record complement Yatra’s existing offerings, allowing us to provide an even more comprehensive and tailored travel experience to our clients across India.”
