Kuoni acquires Resnet for Rs 5 crore

CORPORATE MERGERS & ACQUISITIONS

Kuoni India announced on Tuesday that it has acquired Resnet "" an on-line booking engine and reservation solutions provider to the hospitality industry "" from Traveljini.com for a consideration of around Rs 5 crore.

Ranjit Malkani, chairman and CEO, Kuoni India said, "We are convinced that IT will provide a differential value to the customer and hence the company has decided to acquire these capabilities and subsequently enter the Internet business. The acquisition of Resnet from Traveljini.com is the first and primary initiative in the overall Internet strategy of Kuoni India."

As a dedicated hotel reservations and distribution company, Resnet represents various hoteliers on the GDS and web platforms.

It provides travel agents, corporates and other browsers an on-line real-time access to the hotel's database for information, room availability and room rate management. It also allows for confirmed bookings with the ability to print booking confirmation vouchers, the company said in a press release.

ICICI ventures is the majority stakeholder in the travel services portal ""Traveljini.com.

Kuoni acquired tour operator SOTC in 1996 and followed it up with the acquisition of SITA World Travel in 2000. And in 2001, it acquired Tour Club, a destination manager in the Middle East.