Online travel service provider, Easy Trip Planners Ltd, announced on Friday that it has successfully secured a 13.39% stake in Eco Hotels and Resorts through a unique share swap arrangement.
In this innovative deal, Easy Trip Planners exchanged its investment in equity shares of Eco Hotels India with equity shares of the latter at a ratio of 1:1, as disclosed in a regulatory filing. As a result, Easy Trip Planners now holds 40 lakh equity shares, each valued at Rs 10, issued on a preferential basis by Eco Hotels and Resorts.
Nishant Pitti, Co-Founder and CEO of EaseMyTrip, expressed the company’s strategic decision to invest in these stakes, emphasizing their commitment to fostering the growth of eco-friendly and sustainable hotels. He stated, “This investment represents a significant milestone in our ongoing journey to diversify our portfolio and elevate the travel experiences we provide to our valued customers.”
V K Tripathi, Executive Chairman of Eco Hotels and Resorts, characterized the stake sale as a carefully calculated move aimed at expanding the company’s horizons. He highlighted the objective of offering guests an elevated, eco-conscious, and luxurious experience that aligns seamlessly with their commitment to a greener and more sustainable future. This collaboration signifies a forward-thinking approach towards creating positive impacts in the travel and hospitality industry.
