EaseMyTrip, India's second-largest online travel platform, has expanded its international footprint by incorporating wholly-owned subsidiaries in the Philippines, Thailand, and the United States of America as part of its second phase of the global expansion strategy. The company has forayed into these new countries anticipating a huge pent-up global demand for the travel and tourism sector in the coming months.
EaseMyTrip has previously established its presence across countries such as the UAE, Singapore, and the UK to cater to their Indian customers traveling to these countries. However, as a part of this new phase of expansion, the company will launch a localized travel search engine in each global subsidiary to enable the customers in the region to enjoy the value-based services of EaseMyTrip.
Currently, the search engine developed for the UAE is live, and the subsidiaries in Singapore, the UK, Philippines, Thailand, and the United States of America are set to follow suit. The subsidiaries will also replicate the lean and cost-effective operating model that the brand has successfully adopted in India for over 13 years and will continue to pass on maximum benefits to customers in the respective regions.
In addition to this, the company will also explore opportunities with local companies and services across these countries to not only strengthen offerings within these countries but also to enhance the travel experience of their customers who visit these countries.
Speaking on the expansion strategy, Nishant Pitti, CEO and Co-Founder, EaseMyTrip said, "Philippines, Thailand, and the USA represent a significant part of our international holiday package business and we are excited to foray into these markets for this new phase of global expansion. With a strong pent-up travel demand across the world, we see a wider global market open for travel, and we believe that EaseMyTrip is well-poised for explosive growth internationally.
The introduction of local search engines in these countries marks a new chapter in our journey as we present our best-in-class services to a new set of customers. Over the past 13 years, we have established a strong foothold in the Indian travel industry, and we look forward to launching our unique business model and replicate our success in these global markets as well. We are excited about the opportunities that this new phase will bring in, and we are optimistic that this will pave the way for significant expansion prospects in the future."
EaseMyTrip is ranked second amongst key OTAs in India and is also the fastest-growing travel portal between FY18 to FY20 based on Gross Booking Revenue. The company, which has been profitable since inception, provides its customers with the option of zero convenience fees during ticket booking.
Shares of Easy Trip Planners Limited was last trading in BSE at Rs. 543.35 as compared to the previous close of Rs. 519.1. The total number of shares traded during the day was 246353 in over 9479 trades.
The stock hit an intraday high of Rs. 549.05 and intraday low of 511.75. The net turnover during the day was Rs. 131122481.