MakeMyTrip buys majority stake in corporate travel management firm
Indian OTA MakeMyTrip is is making a big move in the corporate travel space with a majority stake in online corporate travel management company Quest2Travel.
Quest2Travel offers corporate clients real time end-to-end travel solutions encompassing corporate policy compliant online bookings, invoice generation, expense management and settlement.
"This partnership is a perfect fit because it combines the best in corporate travel with the leader in non-corporate travel," Abhay Rangnekar, Q2T chief executive.
Financial terms of the deal were not disclosed.
MakeMyTrip itself has a new majority owner after Chinese travel company Ctrip International became its largest stakeholder this week, after agreeing a share swap deal with original backer Naspers.
Ctrip now has a 49% shareholding in MakeMyTrip.
Commenting on the Q2T deal, MakeMyTrip CEO Deep Kalra said: "We have historically focused on providing travel solutions for retail customers, and with this investment we are making a decisive foray into providing travel solutions for corporate customers as well."
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