Explore Business Standard
Associate Sponsors
Co-sponsor
Travel aggregator Ixigo's board has approved the acquisition of a 60 per cent stake in Spain's second-largest train booking platform Online Travel Solutions (Trenes), for 11.70 million euro (over Rs 125 crore). The proposed acquisition will help leverage Ixigo's product, technology and AI leadership in the European OTA market as Trenes is engaged in the business of providing an online platform for train ticket bookings, primarily catering to the Spanish market, with operations extending to certain other parts of Southern Europe. Consequent to the acquisition, Online Travel Solutions, S.L. will become a step-down subsidiary of Ixigo, it stated in a late-night regulatory filing on Friday. The board of directors of Ixigo also approved the acquisition of a 45.02 per cent stake in Squad As Service, S.L., Spain (Sqaas) for a total consideration of 0.45 million euro (over Rs 4.83 crore). The total consideration for both acquisitions includes non-compete fees and authorisation of the signi
With the rise in tourism in the country post Covid, the sector is also witnessing an increase in online travel scams as a significant percentage of travellers have been duped while trying book holidays to save money, a report said on Sunday. About 51 per cent of Indian respondents have fallen victim to online scams while trying to save money when booking travel, according to the 'Safer Holidays' Travel report by McAfee Corp. The report also revealed that 77 per cent of those who had money stolen have lost up to USD 1,000 (Rs 83,000) before their trip has even begun. The Safer Holidays Travel report is based on a survey among 7,000 people across seven countries, including 1,010 from India. The report further revealed that 66 per cent of all Indian vacationers said they will travel domestically this year and 42 per cent will do so internationally. In today's economic environment, Indian adults are more likely to seek out a bargain deal online (54 per cent), move quickly to snap up a