Easy Trip Planners Ltd., trading as the online travel platform EaseMyTrip, has greenlit a plan to establish a luxurious 5-star hotel in Ayodhya, with an investment totaling INR 100 crore.
The investment will involve Jeewani Hospitality Pvt Ltd, a company currently under incorporation, through the issuance of fresh shares by Easy Trip Planners on a preferential basis, constituting 50% of the total share capital in the new entity, as stated in a filing to the exchange on Sunday.
The announcement comes after the inauguration of the Ram Temple in Ayodhya on January 22, which is expected to boost religious tourism as people flock to Ayodhya in the hope of visiting the temple.
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Top business leaders and analysts anticipate high demand, extending beyond the initial two weeks and persisting even after the initial excitement surrounding the city diminishes.
For Easy Trip Planners, the move comes after its acquisition of a stake in a hotel company in December.
It secured a 13.39% stake in Eco Hotels and Resorts through 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.
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