EaseMyTrip Forays Into Hospitality Space With 13% Stake Acquisition In Eco Hotels and Resorts
Summary
EaseMyTrip Forays Into Hospitality Space With 13% Stake Acquisition In Eco Hotels and ResortsIndia, Dec. 22 -- Traveltech major EaseMyTrip has acquired a non-controlling stake of about 13% in Eco Hotels and Resorts Limited in a share swap deal to enter the hotel and hospitality industry. ".the companys investment in equity shares of Eco Hotels India Private Limited is swapped with equity shares of Eco Hotels and Resorts Limited in the ratio of 1:1 and the company has acquired 40,00,000 equity shares of INR 10 each of Eco Hotels and Resorts Limited, issued on preferential basis," said EaseMyTrip in a statement.The startup said that the primary objective of the strategic investment in Eco Hotels is to acquire a minority interest and promote environmentally friendly practices within the hospitality sector.All the hotels operat...To read the full article or to get the complete feed from this publication, please Contact Us