Mumbai, India, June 08: ixigo (Le Travenues Technology Limited), India’s leading AI-based travel platform, has informed the exchanges today that its Board has approved the acquisition of a majority stake of 54.66% in Brevistay (Brevistay Hospitality Private Limited) for a total investment of Rs. 65.69 crore, through a combination of secondary and primary share purchases, subject to completion of conditions precedent of the definitive agreements. Following the proposed acquisition, Brevistay will become a subsidiary of the Company. Additionally, ixigo shall have the right to purchase the remaining stake in the future, subject to fulfilment of certain agreed conditions. The acquisition marks a significant step in ixigo‘s strategy to strengthen its hotels business and expand its footprint across the accommodation segment in India.
Founded in 2016, Brevistay has built India’s largest flexible-stay hotel network. The platform enables both short-duration and overnight hotel bookings through dedicated supply-side and demand-side products, helping hotels maximise occupancy and drive ARR expansion. Brevistay‘s network spans budget, mid-scale, and premium hotels across both Tier 1 cities and Tier 2 / 3 towns in India and its flexible-duration stays are available across ixigo’s ecosystem.
Together, ixigo and Brevistay’s hotel network comprises over 10,000 directly contracted hotels across India, significantly accelerating ixigo’s hotel onboarding efforts. The transaction is expected to create meaningful synergies by combining Brevistay‘s extensive hotel supply network, feet-on-street, strong expertise in flexible-stay bookings, and hotel partner relationships, with ixigo‘s AI-led technology capabilities, distribution, customer base, and multi-modal travel ecosystem. The acquisition will further strengthen ixigo‘s ability to offer travellers a wider range of accommodation options while enabling hotel partners to unlock higher occupancy and revenue opportunities.
Announcing the acquisition, 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. 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. This acquisition further strengthens our vision of building India’s most customer-centric travel platform across all major travel categories.”
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. Travellers 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.”