As part of its plan to expand its corporate business, one of India’s leading online travel companies, Yatra Online has announced an agreement to completely acquire Globe All India Services, a premier corporate travel services provider in an INR 1280 million deal.

According to a press statement by Yatra, through this acquisition it will gain Globe Travel’s robust portfolio of approximately 360 corporate customers and annual gross bookings of approximately USD 90 million. 

Yatra says that this strategic acquisition further solidifies Yatra’s position as the leader in the corporate travel sector and marks a significant expansion of its corporate customer footprint in India.

The statement adds that this merger will offer an expanded reach and market share as Yatra adds 360 Globe customers to its current base of over 850 corporate clients through this acquisition, significantly expanding its leadership position and market share in the corporate travel segment in India, an estimated 40 pc expansion based on number of customers. 

This increased market leadership also enhances Yatra’s positioning with suppliers, allowing the company to secure more favourable terms and deliver greater value to its clients.

The statement adds that Globe Travels is recognised for its robust capabilities in Meetings, Incentives, Conferences, and Exhibitions (MICE). Adding Globe Travels’ strong capabilities to Yatra’s recent organic MICE expansion will make Yatra one of the largest players in India in this fast-growing segment.

Yatra says that as it gains access to a new and diverse set of clients through this acquisition with minimal overlap in the corporate customer base, it will further diversifying its client portfolio across industries.

This acquisition will enable Yatra to leverage cross-selling opportunities for hotels and its expense management platform, and to provide comprehensive travel solutions tailored to the unique needs of these customers.

The statement adds that with annual gross bookings of USD 90 million and adjusted earnings before interest, taxes, depreciation, and amortisation margins of over 20 pc, this acquisition is expected to be immediately accretive to Yatra’s financials, with further potential for margin expansion as synergies are realised. 

Dhruv Shringi

Yatra says that since the majority of Globe Travel’s business is currently offline, this acquisition presents a strategic opportunity to integrate its  corporate self-booking platform with Globe Travel’s customer base, thereby enhancing synergies and driving further value creation.

It adds that Globe Travel’s corporate clients will benefit from increased efficiencies and reduced costs through Yatra’s digital platform. 

“We are thrilled to welcome Globe Travels to the Yatra family. This acquisition aligns with our strategy to deepen our presence in key verticals and markets while further strengthening our corporate travel and MICE capabilities. Globe Travels’ expertise in corporate travel and MICE and outstanding service record complement Yatra’s existing offerings, allowing us to provide an even more comprehensive and tailored travel experience to our clients across India,” says Dhruv Shringi, co-founder and CEO of Yatra.