Easy Trip Planners secures 13% stake in Eco Hotels and Resorts
The primary objective of this strategic investment is to acquire a minority interest and promote environmentally friendly practices within the hospitality sector.
Picking a stake in Eco Hotels and Resorts
Easy Trip Planners (EaseMyTrip.com) has recently secured a non-controlling approximately 13% stake in Eco Hotels and Resorts Ltd, a BSE-listed entity. Eco Hotels and Resorts Ltd operates in the hotel and hospitality industry, aligning well with EaseMyTrip’s commitment to diversify its portfolio. The primary objective of this strategic investment is to acquire a minority interest and promote environmentally friendly practices within the hospitality sector. All the hotels operated by Eco Hotels will be carbon net zero hotels.
This association also opens opportunities for establishing synergy between the two companies. Both companies are talking about various areas of cooperation. Besides hotel operations business, ECO HOTELS may carry on air and non-air business mainly for its customers on the platform of EaseMyTrip.com and its subsidiaries company.
Company profile
Established in 2008, EaseMyTrip is India’s one of largest online travel platforms in terms of air ticket bookings. EaseMyTrip offers ‘End to End’ travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services. EaseMyTrip provides its users with access to more than 400 international and domestic airlines, over 2+ million hotels as well as train/bus tickets and taxi rentals for major cities in India. EaseMyTrip has offices across various Indian cities, including Noida, Delhi, Gurugram, Bengaluru, and Mumbai. Its international offices (as subsidiary companies) are in the Philippines, Singapore, Thailand, the UAE, the UK, the USA and New Zealand.
Stock price movement
On Friday, the stock opened at Rs 38.44 and touched a high and low of Rs 44.10 and Rs 39.06, respectively. The BSE group ‘A’ stock of face value of Rs 1 has a 52-week high and low of Rs 57.20 and Rs 37.01, respectively. Last one week high and low of the scrip stood at Rs 39.80 and Rs 37.75, respectively. The current market cap of the company is Rs 7,525.19 crore.
The promoters holding in the company stood at 65.54% while Institutions and Non-Institutions held 4.72% and 29.74%, respectively.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.