Online travel aggregator EaseMyTrip (EMT) disclosed its acquisition of a 49 per cent stake in Australia-based study abroad consultant Planet Education Australia, marking its entry into the international study tourism segment. The equity share swap deal is valued at Rs 39.20 crore.
EaseMyTrip will acquire the stake by issuing fully paid-up equity shares to Planet Education's existing shareholders. Founded in 1999, Planet Education specialises in services such as counselling, university placements, and visa assistance for students pursuing higher education abroad. The company collaborates with over 350 universities across destinations, including Australia, the US, the UK, Canada, Singapore, Ireland, and New Zealand.
“This strategic acquisition enables us to integrate education and travel services, offering a seamless experience to our customers,” said Nishant Pitti, Chief Executive Officer and co-founder of EaseMyTrip. He emphasised Planet Education’s 25 years of expertise as a key driver for the move.
In addition to venturing into study tourism, EaseMyTrip's board approved the acquisition of a 50 per cent stake in Jeewani Hospitality Private Limited for Rs 100 crore via a share swap. The partnership aims to develop a five-star hotel in Ayodhya, further diversifying EMT’s portfolio.
Earlier this year, EaseMyTrip disclosed its plans to invest Rs 100 crore alongside the Jeewani Group to establish a luxury property in Temple Town. The expansion into hospitality aligns with EMT’s ongoing diversification strategy.
EaseMyTrip has also been exploring medical tourism. In September 2024, the company announced plans to acquire a 30 per cent stake in Rollins International for Rs 60 crore and a 49 per cent stake in Pflege Home Healthcare Center LLC for Rs 30 crore, underscoring its commitment to tapping into high-growth tourism niches.
Despite these strategic expansions, EMT’s financial performance in Q2 FY25 reflected challenges. Consolidated profit after tax (PAT) fell 42.8 per cent year-on-year to Rs 26.8 crore, while revenue from operations rose modestly by 2.1 per cent to Rs 144.6 crore. Revenue from its core online flight booking vertical dipped 22.5 per cent to Rs 9.25 crore, compared to Rs 11.94 crore in the same quarter last year.
With its foray into study and medical tourism, and its push into hospitality, EaseMyTrip is strategically positioning itself to broaden its revenue streams and mitigate challenges in its traditional segments.
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