EaseMyTrip ventures into hospitality sector with launch of 5-star hotel in Ayodhya

EaseMyTrip Ayodhya hotel: Travel aggregator EaseMyTrip has announced its foray into the hospitality industry with the launch of its latest joint venture: a luxurious 5-star hotel located in the heart of Ayodhya. Ayodhya's prominence as a premier pilgrimage destination underscores the importance of elevating the visitor experience at such sacred sites. In 2022, religious tourism attracted a staggering 1,439 million tourists, generating Rs 1.34 lakh crore in revenue. This sector is projected to contribute Rs 5,900 crore by 2028 and create 140 million temporary and permanent jobs by 2030.

EaseMyTrip has committed to investing up to Rs 100 crore in Jeewani Hospitality Private Limited, the entity overseeing the project. This investment will represent 50 per cent of the total paid-up share capital of the JV Company on a fully diluted basis through equity swap, once finalised.

Nishant Pitti, CEO & Co-Founder of EaseMyTrip, expressed his excitement about the venture, stating, "We are thrilled to announce our latest joint venture, a lavish retreat that combines luxury with a serene ambiance amidst Ayodhya's dynamic religious landscape. With over 2.4 million visitors flocking to Ayodhya following the Pran Pratishtha of the Ram Temple, the city has emerged as a prime investment destination for businesses to offer hospitality options tailored to tourists, inviting guests to embark on a spiritually fulfilling journey while enjoying top-notch hospitality."

Dhruv Jeewani, Director of Jeewani Hospitality, said, "We are incredibly excited about our collaboration with EaseMyTrip, which marks a significant milestone for Jeewani Hospitality. By joining forces with one of India's leading online travel platforms, we aim to create an exceptional 5-star hotel experience near the revered Shree Ram Mandir in Ayodhya. Our vision is to provide guests with luxurious amenities and an immersive spiritual journey, complementing the vibrant religious landscape of Ayodhya."

The shares of Easy Trip Planners fell as much as 2.44 per cent to hit an intraday low of Rs 49.85 apiece on the NSE on Monday, February 12, 2024.