M&A

M&A

Travel portal EaseMyTrip acquires Spree Hospitality

Economic Times  

New Delhi-based online travel platform EaseMyTrip has acquired Bengaluru-based hospitality management company Spree Hospitality. The target was founded in 2011 by Keshav Baljee, who is also the co-promoter of publicly-listed Royal Orchid Hotels. Noesis Capital Advisors acted as the exclusive transaction advisor for the deal. Spree has a portfolio spanning hospitality verticals such as hotels, corporate guest homes and residential clubs. The company is debt-free and follows an asset-light model. It has a footprint of 1,220 operational keys and hotels in Bengaluru, Mumbai, Pune, Chennai, Goa, Hyderabad, Kochi, Manali, Amritsar, Dehradun, Coimbatore and Delhi.