Le Travenues Technology Ltd, which operates the ixigo platform, has agreed to acquire a 54.66% stake in Brevistay Hospitality Pvt Ltd for ₹65.69 crore.
Following the transaction, Brevistay will become a wholly owned subsidiary of ixigo, subject to the completion of customary conditions.
Shares of Le Travenues Technology were last trading at ₹156.63, up 0.69% from the previous close of ₹155.55. The company has a market capitalisation of ₹6,870.87 crore.
Deal structure
The acquisition will be carried out through a combination of:
- Primary share purchases
- Secondary share purchases
Ixigo has also secured the right to acquire the remaining stake in Brevistay in the future, subject to agreed performance conditions.
The company disclosed the rationale and terms of the transaction in investor FAQs issued on June 7, a day after the board approved the deal.
About Brevistay
Founded in 2016 by Prateek, Shubham and Nikhil, Brevistay offers flexible-duration hotel stays, allowing customers to book rooms by the hour or for half a day.
The platform has since expanded into:
- Overnight stays
- Business travel
- Last-minute accommodation bookings
Its operations span Tier-I, Tier-II and Tier-III cities.
According to ixigo, Brevistay has remained profitable and has grown revenue at more than 50% CAGR over the past few years without raising institutional funding.
Based on the transaction value, the implied equity valuation of Brevistay is around ₹120 crore.
Hotel network to cross 10,000 properties
After the acquisition, ixigo’s directly contracted hotel network will exceed 10,000 properties.
The company considers direct hotel supply an important part of its strategy, as it seeks to improve:
- Margins
- Inventory control
- Customer experience
Brevistay had already been supplying hotel inventory on ixigo’s platform before the acquisition.
Strengthening the hotel business
Ixigo’s business is largely driven by rail ticketing and bus bookings.
Hotels remain one of its smaller segments, where larger online travel platforms such as MakeMyTrip and EaseMyTrip have stronger supply networks.
The acquisition gives ixigo access to Brevistay’s niche in flexible-duration stays.
The model could complement ixigo’s rail business, particularly for travellers seeking short stays after arriving in cities by train.
Founders to continue
The filing said the founders of Brevistay will continue with the business.
Ixigo said the structure of the deal, including the option to acquire the remaining stake later, helps align incentives for future growth.
Financial performance
For FY26, Le Travenues Technology reported:
- Consolidated revenue of ₹1,228 crore
- Net profit of ₹71.5 crore
The company operates the ixigo, ConfirmTkt and Abhibus brands.
Founded in 2007, Le Travenues Technology is India’s second-largest online travel agency.
TL;DR
Ixigo will acquire a 54.66% stake in hotel booking platform Brevistay for ₹65.69 crore. The deal will take its directly contracted hotel network beyond 10,000 properties and strengthen its presence in the accommodation segment.
AI Summary
- Ixigo is acquiring a 54.66% stake in Brevistay.
- The deal is valued at ₹65.69 crore.
- Brevistay will become a subsidiary after completion.
- The combined hotel network will exceed 10,000 properties.
- Ixigo reported FY26 revenue of ₹1,228 crore.
