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EaseMyTrip board approved three acquisitions to strengthen strategic presence

EaseMyTrip board approved three acquisitions to strengthen strategic presence

Time of India4 days ago
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EaseMyTrip, one of India's leading travel-tech platforms, has announced three strategic acquisitions to strengthen its end-to-end travel capabilities across both international and domestic markets, according to a company release.The company has:(a) approved acquisition of a 50% stake in Three Falcons Notting Hill Limited for its London's premium property, Three Falcons Hotel, through a secondary investment(b) approved acquisition of a 100% stake in AB Finance Private Limited for acquiring its premium commercial asset property in Gurugram, India at the upmarket Golf Course Road, through a secondary investment, and,(c) In-principally approved making a strategic investment in VBIL.With the proposed acquisitions to be done through share swap arrangement, EaseMyTrip will mark its entry into the international hospitality space with an investment in Three Falcons Hotel, a luxury boutique hotel located in the prestigious St John's Wood area of London, near Lord's cricket stadium.Positioned to cater to both business and leisure travelers, the hotel will facilitate EaseMyTrip to deliver experiential hospitality in one of the world's most influential tourism markets. The move comes at a time when the global hospitality industry, currently valued at USD 5.71 trillion, is projected to reach USD 7.23 trillion by 2029, presenting substantial growth opportunities.The other proposed acquisition of AB Finance will add a key asset to EaseMyTrip's domestic portfolio. Located at a prominent corporate corridor at the Golf Course Road, Sector 53, Gurugram, the commercial property is projected to support EaseMyTrip's expanding operations. It will offer the flexibility to accommodate EaseMyTrip's future business requirements, including office infrastructure expansion, as EaseMyTrip continues to scale its presence across markets.The in-principle approval to invest in VBIL, which is inter alia engaged in entertainment and real estate business activities is a strategic investment move of the Company.According to a company release, all the proposed strategic investments will be subject to obtaining relevant board and shareholders' approval, and other regulatory approval(s) as may be required.Commenting on the development, Nishant Pitti, Chairman & Founder, EaseMyTrip, said, "Our growth strategy has always centered around long-term thinking, measured decisions, and brand-aligned diversification. The proposed acquisition of the London property will give us the opportunity to explore synergies in hospitality at a global destination, while the Gurgaon property will strengthen our operational backbone as we scale. With these strategic moves, we aim to create unique, engaging, and memorable experiences for travelers while building value for the future."According to a company release, EaseMyTrip's proposed acquisitions broadens its presence across strategically aligned sectors that complement its core travel business. By investing in high-potential assets in hospitality and infrastructure, the company is building a stronger, more diversified ecosystem that enhances customer engagement at every stage of their journey. This approach is reinforcing EaseMyTrip's mission to deliver end-to-end experience-driven travel solutions for Indian and global audiences.
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Smartwatches drag India wearable market down for 5th straight quarter to 26.7 mn: IDC
Smartwatches drag India wearable market down for 5th straight quarter to 26.7 mn: IDC

Time of India

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  • Time of India

Smartwatches drag India wearable market down for 5th straight quarter to 26.7 mn: IDC

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Trump aide slams India for buying Russian oil, says Delhi needs to act like strategic partner of US
Trump aide slams India for buying Russian oil, says Delhi needs to act like strategic partner of US

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Trump's Official Urges India To Stop Purchases Of Russian Oil For 'Funding' War In Ukraine
Trump's Official Urges India To Stop Purchases Of Russian Oil For 'Funding' War In Ukraine

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time3 hours ago

  • India.com

Trump's Official Urges India To Stop Purchases Of Russian Oil For 'Funding' War In Ukraine

White House trade adviser Peter Navarro has targeted Indian purchases of Russian crude oil, accusing it of funding Moscow's war in Ukraine and called for New Delhi to stop, Al Jazeera reported, citing the opinion piece published in the Financial Times. In an opinion piece published in the Financial Times on Monday, Navarro wrote, "India acts as a global clearinghouse for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs." Notably, US President Donald Trump and his administration have continuously targeted India over its purchase of Russian crude oil. India, on the other hand, has always maintained that India's purchases are based on its domestic needs and economic security. The Ministry of External Affairs also pointed out in its recent statement that the US and European Union purchase much more oil and other goods than India. Further, Navarro slammed India for "cosying up" to Russia and China, saying "if India wants to be treated as a strategic partner of the US, it needs to start acting like one." India's dependence on Russian crude is "opportunistic and deeply corrosive of the world's efforts to isolate Putin's war economy," he added. The adviser also said that it was risky to transfer cutting-edge US military capabilities to India as New Delhi's ties to China and Russia deepen, as per Al Jazeera. Navarro is the second senior Trump administration official to accuse India of financing Russia's war in Ukraine. Stephen Miller, deputy chief of staff at the White House, in the first week of August, said that New Delhi's purchase of Russian crude was "not acceptable". "What he (Trump) said very clearly is that it is not acceptable for India to continue financing this war by purchasing the oil from Russia," Miller, one of Trump's most influential aides, said in an interview to Fox News. In response, the Ministry of External Affairs said that the country is being 'unfairly' singled out for buying Russian oil. At the same time, the US and European Union continue to buy goods from Russia. The EU and US trade much more with Russia than India does, New Delhi's contention for being singled out - although this trade has dipped significantly since Russia invaded Ukraine in February 2022. The EU's total trade with Russia plummeted to USD 77.9 billion in 2024, down from USD 297.4 billion in 2021. Notably, the EU continues to import Russian gas, with expenditures reaching USD 105.6 billion since the war began. This amount is equivalent to approximately 75 per cent of Russia's 2024 military budget, according to the Centre for Research on Energy and Clean Air. In contrast, the total trade between the US and Russia stood at USD 3.5 billion in 2024. US goods exports to Russia in 2024 were USD 528.3 million, down 11.8 per cent (USD 70.5 million) from 2023. Meanwhile, on this 79th Independence Day, Prime Minister Narendra Modi, during his speech, said that, "Modi will stand like a wall against any policy that threatens their interests. India will never compromise when it comes to protecting the interests of our farmers." Notably, at the beginning of this month, United States President Donald Trump imposed 50 per cent tariffs on Indian goods over the issue, straining US-India ties. India and the US have been negotiating for months to finalise a free trade agreement, with Trump accusing New Delhi of denying access to US goods by imposing high tariffs.

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