Having clocked profit to the tune of Rs 30 crore last year, online travel platform EaseMyTrip does not need any fresh funding, according to its CEO and founder Nishant Pitti.
“We are not in a desperate need of any funding. If we want to expand, we have enough of funds and we can expand of our own. But we are always open to mergers and acquisitions,” he said.
The company is open for mergers and acquisitions specifically in the hotel space. “We are always on the look out if the right fit comes and right strategic we are happy to either acquire a smaller company specifically maybe in the hotel space,” Pitti said.
In its first six months of this year, the company claimed that it had generated revenues of Rs 1500.
In terms of pricing, Pitti said the firm’s USP is that they don’t charge convenience fees unlike other OTAs and airlines.
“Around 85 percent of our customers come back to us to book their next travel. The reason they come back to us is because we do not charge convenience fees and our technology and sales support is excellent,” he added.
Tier-2 and tier-3 markets
As there are airport penetration going on in Tier 2 and 3 cities, Pitti said they are eyeing expansion in cities such as Guwahati, Kochi and Patna.
The company is looking to enter the US, the UK and Australia markets and is already present in Dubai, Bangkok, Maldives and Singapore.
The travel firm serve segments of air tickets, hotels, railways, bus tickets, car rentals and holiday packages.