EaseMyTrip Enters Luxury Hospitality, Invests INR 100 cr in Ayodhya 5-Star Hotel

EaseMyTrip is poised to make its debut in the hospitality sector after receiving approval from the board of the online travel aggregator to establish a five-star hotel in Ayodhya, situated near the vicinity of the Ram Temple, which was inaugurated on January 22nd.
The statement released by the Company said, “The Board of Directors (“Board”) of Easy Trip Planners Limited (“Company”) in its meeting held today, i.e., on February 11, 2024, has, inter alia considered and in-principally approved the proposal to open a 5-star hotel in Ayodhya which is less then 1Km from Shree Ram Mandir through an investment of an amount of up to ₹100 crores in Jeewani Hospitality Private Limited, a company under incorporation for 50% of the aggregate share capital of the said company on a fully diluted basis through swap i.e., fresh issuance of the Company’s own equity shares on preferential basis.”
Meanwhile, EaseMyTrip reported a 9.6 increase in net profit at ₹45.6 crore in the December quarter of FY24 up from INR 41.69 cr during the same period a year ago on the back of robust growth in travel demand.
Sequentially, the company’s profits dropped from INR 47 cr in the September quarter of FY24.
The travel aggregator reported a total income of INR 165 cr up 18% year-on-year (YoY) from INR 139.8 cr.

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