Tag Archives: Rightstay

Leading online travel groups, MakeMyTrip Limited and ibibo Group, have agreed to pursue a transaction that will combine the two businesses under MakeMyTrip. The combination will bring together a bouquet of leading consumer travel brands, including MakeMyTrip, goibibo, redBus, Ryde and Rightstay, which together processed 34.1 mm transactions during FY2016.Following the closing of the proposed transaction, Founder Deep Kalra will remain Group CEO and Executive Chairman of MakeMyTrip and Co-founder Rajesh Magow will continue to remain CEO India of MakeMyTrip. Founder and CEO of ibibo Group, Ashish Kashyap, will join MakeMyTrip’s executive team as a Co-founder and President of the organization. The transaction is expected to unlock value for customers, supply partners and shareholders, by combining the complementary strengths of each business. Naspers and Tencent, through their jointly owned holding company (91% owned by Naspers and 9% owned by Tencent), are selling ibibo Group to MakeMyTrip in exchange for an issuance of new shares by MakeMyTrip. Upon closing of the transaction, MakeMyTrip will own 100% of ibibo Group. Naspers and Tencent will become the single largest shareholder in MakeMyTrip, owning a 40% stake, and will contribute proportionate working capital upon closing. Deep Kalra, Chairman and Group CEO of MakeMyTrip, said: “Today’s announcement is a significant step forward for the rapidly growing travel industry in India. We expect this deal to create an even more scalable business with the expertise to transform the booking experience for Indian travellers. I am delighted to be leading such a strong team in our next chapter of high-growth in this dynamic industry.” Rajesh Magow, co-founder and CEO India of MakeMyTrip added: “We welcome the ibibo team to the newly expanded MakeMyTrip family. The combination of these two …

MakeMyTrip has launched its alternative accommodation platform – Rightstay. The application is an independent platform from MakeMyTrip App and is currently available on Android and web. It provides alternative stay options like villa, residential apartments, homestays and guest houses. RightStay enables customers to rent unique places that offer great, authentic experience at affordable prices. With RightStay, MakeMyTrip intends to disrupt the homestay and non-hotel stay options segment. Talking about the new business, Rajesh Magow, Co-Founder and CEO-India, MakeMyTrip, “The alternate accommodations are going to be the next big thing and this segment has the potential to completely disrupt the online travel industry. We are in constant pursuit to provide excellence in the services and experience offered to the customers. Being the market leader, the onus of category creation is on us and Rightstay is a step in our measures towards the rapidly evolving accommodations segment in the country. We have deployed a dedicated team for Rightstay and we are committed to drive this business to great heights.” Commenting on the launch Deepak Tuli, Senior Vice President – Growth Business, MakeMyTrip said, “It is our constant endeavor to be the one stop destination for consumers’ travel needs. In search of authentic experiences, travellers are now looking for diverse accommodation options. With Rightstay, we want to be able to offer a ‘home away home’ experience to our customers. We hope to leverage the demand, traffic and brand advantage that we have and create a unique position for ourselves in the alternate accommodation category. We already have a head-start with more than 10,000 properties across 200 cities live on Rightstay.”