EaseMyTrip announced that it has acquired a 55% majority stake in cheQin through the primary route.
cheQin is a real-time marketplace that allows travellers bargain possibilities with hoteliers.
The company said the bargaining algorithm of cheQin brings in top five lowest offers by hoteliers. The company encourages travellers to pay at the hotel directly. cheQin can be accessed through web (cheQin.club), android and iOS apps.
From the hoteliers side, the company uses the cheQin application to give hoteliers access to real-time booking requests and the ability to take control of their own bookings.
CheQin offers demand scenarios to hoteliers that allow them to better regulate the pricing, that facilitates the sale of their properties more quickly, EaseMyTrip stated.
The business also provides free signup, dashboard access with a single click, real-time competition data, and regular commission payments to hoteliers, EaseMyTrip said.
The company said with this aquisition, it is in a ‘great’ position to give its customers a range of hotel booking options at ‘competitive’ prices. CheQin gains access to EaseMyTrip’s network of over 45,000 travel agents and over 11 million customers through this acquisition.
Nishant Pitti, CEO and co-founder of EaseMyTrip, said EaseMyTrip is focusing on the growth of its non-air segments.
“This acquisition is a step towards revolutionizing the hotel business altogether. Through cheQin, which is a unique app in the hotels industry, EaseMyTrip will diversify its hotel booking experience through technology support,” he said.
“We believe that cheQin provides unparalleled options in all segments and has the potential to scale and strengthen cross-selling. We are thrilled to take this opportunity and look forward to stepping into a new era of hospitality,” he added.
Venu G Somineni, founder, CheQin, said EaseMyTrip and cheQin would have a ‘strong’ synergy.
“Everyone enjoys bargaining over anything. Booking a hotel is no different. The robust bargaining algorithm of cheQin would draw in a tonne of customers in no time. We really believe that cheQin can work miracles for last-minute, bulk, long-term, and short-term bookings. We expect to strengthened the market in the years to come, thanks to our partnership with EaseMyTrip,” he added.
Over 60,000 properties, including three, four and five star hotels, private stays, holiday rentals, beach resorts, and inexpensive rooms, have just joined cheQin, the company said.
It also stated that over 5,000 hotels in Singapore, Thailand, Indonesia, Vietnam, Malaysia, and the UAE have recently inked agreements with cheQin.
