New Delhi, March 5 Online travel services provider MakeMyTrip announced on Thursday that it will acquire a majority stake in regional tour operator Flamingo Transworld for an undisclosed amount.
The company has entered into an agreement to acquire a majority stake in Flamingo Transworld, one of India's leading regional tour operators, subject to the fulfillment of certain closing conditions, MakeMyTrip said in a statement.
Flamingo has established a strong presence in the regional markets of Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh with its group tour services over its 30 years of operations, the statement said.
Its international and domestic group travel packages, which are currently sold largely through 51 offices across Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh, will complement MakeMyTrip's established Holiday Packages business and help the platform penetrate deeper into markets across India, the company said.
Commenting on the proposed deal, MakeMyTrip Co-Founder and Group CEO, Rajesh Magow, said, "Flamingo aligns closely with the growth strategy of our Holiday Packages business. It is a strong, growing business that has developed a unique competitive advantage in the group travel domain."
He further added, "We plan to leverage the complementary customer base, products, and distribution focus between the two brands to widen holiday package options for our customers."
Flamingo Transworld Director and Co-Founder, Sanjay Shah, said that for over three decades, Flamingo has built something unique in the Indian travel industry: genuine trust. From chef-led tours to regional language guides, the brand has grown by going deeper.
"By combining Flamingo's brand equity and operational depth with MakeMyTrip's digital platform and national customer reach, we aim to build a truly pan-India tour company that brings Flamingo's signature experience to millions of new customers," he added.
In recent times, MakeMyTrip has taken a measured approach to inorganic growth, with strategic acquisitions, including QuestToTravel in corporate travel bookings, Simplotel in hotel technology, BookMyForex in travel forex, Savaari in intercity mobility, and Happay in corporate spend management.
These have helped in expanding the company's capabilities across leisure, corporate, and ancillary travel, the statement said.
