Yatra Online doubles down on corporate travel with acquisition of Globe Travels, ET TravelWorld

Yatra Online, India’s largest corporate travel services provider, today announced a significant expansion of its market leadership with the acquisition of Globe All India Services Limited (Globe Travels), a premier corporate travel services provider. The deal, valued at INR 1280 million in cash, marks a strategic move to bolster Yatra’s dominance in the corporate travel sector.

This acquisition adds approximately 360 corporate customers to Yatra’s existing base of over 850 corporate clients, effectively expanding Yatra’s market share in the corporate travel segment by an estimated 40 per cent. With Globe Travels reporting annual gross bookings of around USD 90 million, the deal significantly strengthens Yatra’s position as a leader in corporate travel across India. The expanded customer base enhances Yatra’s bargaining power with suppliers, enabling the company to secure more favorable terms and deliver enhanced value to its clients.

Boost to MICE capabilities
Globe Travels is renowned for its strong capabilities in the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector. The integration of Globe Travels’ expertise with Yatra’s recently expanded MICE operations positions Yatra as one of the largest players in this fast-growing segment in India. This acquisition underscores Yatra’s commitment to providing comprehensive and tailored travel solutions to its corporate clients.

The acquisition is expected to be immediately accretive to Yatra’s financials, with Globe Travels boasting Adjusted EBITDA margins of over 20 per cent. The strategic integration of Yatra’s Corporate Self Booking Platform into Globe Travels’ largely offline business presents a significant opportunity to drive further synergies and value creation. Globe Travels’ clients will benefit from Yatra’s advanced digital platform, which promises increased efficiencies and reduced costs.

With minimal overlap between Yatra’s and Globe Travels’ client bases, the acquisition provides a unique opportunity to diversify Yatra’s customer portfolio across various industries. Yatra plans to leverage this acquisition to cross-sell hotels and its expense management platform, further enriching its service offerings to Globe Travels’ corporate clients.

“We are thrilled to welcome Globe Travels to the Yatra family,” said Dhruv Shringi, Co-Founder and CEO, Yatra Online. “This acquisition aligns perfectly with our strategy to deepen our presence in key verticals and markets while enhancing our corporate travel and MICE capabilities. Globe Travels’ outstanding service record and expertise complement our existing offerings, allowing us to deliver an even more comprehensive and tailored travel experience to our clients across India.”Yatra Online Limited is India’s leading corporate travel services provider, with over 850 corporate customers and a vast array of online travel services, including domestic and international air travel, hotel bookings, holiday packages, and more. The company boasts a network of approximately 108,000 hotels and homestays across 1,500 cities in India and around 2 million hotels globally, making it the largest platform for domestic hotels in India.

Globe Travels is a respected corporate travel services provider known for its expertise in managing corporate travel and MICE. Serving approximately 360 corporate clients, Globe Travels has established itself as a trusted partner in the travel industry, with substantial annual gross bookings and a strong reputation for service excellence.