Easy Trip Planners Ltd., which operates as an online travel platform under brand EaseMyTrip, approved the proposal to open a 5-star hotel in Ayodhya at an investment of Rs 100 crore.
The investment will be in the Jeewani Hospitality Pvt Ltd, a company under incorporation, through fresh issuance of the Easy Trip Planner's own shares on preferential basis for 50% of the aggregate share capital in the new entity, it said in an exchange filing on Sunday.
The announcement comes after the inauguration of Ram Temple in Ayodhya on Jan 22, which is expected to boost religious tourism as people flock to Ayodhya in the hope of visiting the temple.
Top business leaders and analysts expect the demand to stay high, not just during the initial two weeks but also after the hype around the city subsides.
For Easy Trip Planners, the move comes after it bought stake in a hotel company in December.
It acquired 13.39% stake in Eco Hotels and Resorts in a share swap deal.
"Our choice to invest in stakes aligns with our vision to contribute positively to the growth of eco-friendly and green hotels. This investment marks another milestone in our journey to diversify our portfolio and enhance the travel experiences we offer to our customers," EaseMyTrip Co-Founder and CEO Nishant Pitti had said in a statement.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
