Following completion of the transaction and fulfilment of conditions under definitive agreements, Brevistay will become a subsidiary of ixigo. The company said it will also have the right to acquire the remaining stake in the future, subject to certain agreed conditions.
Founded in 2016, Brevistay operates a flexible-stay hotel booking platform offering short-duration and overnight stays. The company said the platform has built a hotel network spanning budget, mid-scale and premium properties across Tier 1 cities and Tier 2 and 3 towns in India.
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According to ixigo, the combined hotel network of ixigo and Brevistay will include more than 10,000 directly contracted hotels across the country. The company said the acquisition is aimed at strengthening its hotel business and expanding its presence in India’s accommodation segment.
ixigo added that the transaction is expected to combine Brevistay’s hotel supply network, flexible-stay booking expertise and hotel partnerships with ixigo’s AI-led technology capabilities, customer base and travel ecosystem.
Aloke Bajpai, Group CEO, ixigo and Rajnish Kumar, Group Co-CEO, ixigo, said, “Brevistay has built a category-defining platform with deep hotel partnerships and a strong presence in the flexible-stay segment.
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Together, we see significant opportunities to leverage technology, AI, and distribution to create a more comprehensive accommodation ecosystem for Indian travellers while helping our hotel partners maximise utilisation and revenue, targeting a diverse pool of hotel bookers.”
Prateek Singh, Shubham Agarwal and Nikhil Pathak, the Co-founders of Brevistay, said, “We are excited to partner strategically with ixigo, India’s largest travel platform by users, to create meaningful synergies for both our hotel partners and our combined base of hotel bookers. T
ravellers in India want convenience, choice and flexibility when it comes to hotel bookings and with ixigo’s AI capabilities and customer-experience focus, we are confident that we can build a strong network of hotels pan-India that can offer their customers stays across all of ixigo’s platforms.”
Shares of Le Travenues Technology Ltd ended at ₹154.85, down by ₹1.90, or 1.24%, on the BSE.
