After announcing one of the biggest mergers in the travel sector today, Ibibo CEO Ashish Kashyap said that his company’s merger with MakeMyTrip will help both companies to continue a great journey together as the leading travel group in India.
Stressing that co-existence is very important in the travel industry, rather than cutting each others business, he added that its better to have multiple franchises rather than harming their profits.
Adding that the transaction volume for hotels in Ibibo at $3.6 mn for 2015-2016, he said that the deal would provide better value compensation to consumers.
Ashish Kashyap added that deal will be completed by the year end, which would be the biggest, the travel sector would see. While suggesting that there was a lot of ‘meeting of minds’ with this merger, he also expressed hope that the deal will get regulatory approvals at the earliest.
While commenting on the transaction, MakeMyTrip Founder Deep Kalra said that he expected the deal to create an even more scalable business with the expertise to transform the booking experience for Indian travellers.