EaseMyTrip's Hotel Venture: ₹100 Crore Investment

EaseMyTrip shares surged 5% as the board approved a 5-star hotel venture near Shree Ram Mandir in Ayodhya.

The joint venture aims to offer luxury accommodation in a prime location.

Easy Trip Planners proposed a luxurious 5-star hotel near Ayodhya's iconic Shree Ram Mandir.

The board's in-principal approval signals strategic expansion into hospitality.

EaseMyTrip commits ₹100 crore investment in Jeewani Hospitality Private Limited, representing 50% ownership.

The investment reflects the company's confidence in Ayodhya's burgeoning tourism industry.

Ayodhya's religious tourism saw 2.4 million visitors post the Ram Temple's Pran Pratishtha.

Religious tourism generated ₹1.34 lakh crore in revenue in 2022, offering immense growth potential.

EaseMyTrip's Q3FY24 net profit rose 9.5% to ₹45.7 crore, with consolidated revenue up 18.1% YoY to ₹160.8 crore.

EBITDA increased to ₹65.3 crore, showcasing the company's robust financial performance.

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