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Cleartrip won't be the only victim of the Covid-19-triggered economic slump in the travel sector


Cleartrip won’t be the only victim of the Covid-19-triggered economic slump in the travel sector
The entire online travel and ticketing sector is in the doldrums.
Representational image.
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PTI
A 14-year-old online travel company in India has fallen victim to the Covid-19-triggered economic slump – and it might be the first of several.
On April 15, e-commerce giant Flipkart said it will acquire Cleartrip, a Mumbai based-based flight and hotel booking portal, for an undisclosed amount
. Some media reports have pegged the deal at around $40 million (Rs 299 crore). In 2019, Cleartrip had posted a revenue of $100 million and registered gross bookings to the tune of $1.5 billion. ....

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Cleartrip deal raises flags about MakeMyTrip and EaseMyTrip — Quartz India


April 16, 2021
A 14-year-old online travel company in India has fallen victim to the Covid-19-triggered economic slump and it might be the first of several.
On April 15, e-commerce giant Flipkart said it will acquire Cleartrip, a Mumbai based-based flight and hotel booking portal, for an undisclosed amount
. Some media reports have pegged the deal at around $40 million (Rs299 crore). In 2019, Cleartrip had posted a revenue of $100 million and registered gross bookings to the tune of $1.5 billion.
“This is a distress sale but not so surprising as most travel firms have faced unprecedented stress due to Covid 19,” said Anindya Ghose, Heinz Riehl Chair professor of business at New York University’s Stern School. ....

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India's hotels, restaurants gain from MakeMyTrip, Zomato, Swiggy — Quartz India


March 3, 2021
As travel and eating out resume in post-pandemic India, the love-hate relationship between hotels and restaurant owners and online aggregators of their services has come to the fore yet again.
On Feb. 26, the Federation of Hotel & Restaurant Associations of India (FHRAI) initiated the #GoDirect, #BookDirect, and #OrderDirect campaigns on social media to urge patrons to connect with businesses directly instead of going through popular travel portals such as MakeMyTrip and Yatra, and food delivery apps such as Swiggy and Zomato. The association, which represents 55,000 hotels and 500,000 restaurants across the country, believes that intermediaries are biting into the revenues of their members, and making it hard for them to survive amid a tough business environment. ....

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