New Delhi based travel package site, TravelMasti has been acquired by Via.
The company which earlier raised funding from BCCL in 2007 is present (offline) in Dehradun, Rajkot, Jamnagar,Surat cities through its Travelmasti Lounge Network.
The online travel industry has been facing heat owing to lower margin and the recent court ruling banning airline transaction fee is going to erode the margins further.
And that’s why companies like MakeMyTrip and Yatra started diversifying into non-flight business (i.e. hotels/car bookings etc) in order to decrease their dependency on flight business.
Makemytrip recently acquired Thailand’s ITC group for $3.2 million and prior to that, acquired Hotel Travel Group for $25million.
For Via, TravelMasti acquisition provides the much needed depth in holiday package business.
More details as we get them.
