Budget hotel brand Treebo today said it has acquired Events High, a marketplace for experiential events and activities, for an undisclosed amount.
Events High offers customers information on, and ability to book activities like treks and hikes, cooking classes, dance classes, concerts, heritage walks and nightlife in eight cities, including Hyderabad, Pune, Kolkata and Goa.
"The acquisition is in alignment with the company's mission to become a travel network by delivering experiences. Besides these eight cities, we are planning to expand Events High experiences to all major tier-I cities. We want to offer our customers a complete holiday experience," Treebo co-founder Sidharth Gupta told PTI here.
The events and activities segment is estimated to be USD 180 billion globally and USD 5 billion in India.
Post the acquisition, Treebo has absorbed the entire Events High team.
Experiencing local activities is a core part of people's travel plans. Moreover, with nearly 100 per cent offline bookings, fragmented and unorganised supply, this industry has similar characteristics to what the hotel industry had 10 years ago.
"We saw a great opportunity to use technology to capture the untapped potential of this space through Events High," Gupta said.
Treebo, which operates on a franchise model, has an inventory of 10,000 rooms and 400 hotels in over 85 cities.
Asked about future acquisitions, Gupta said there are no definite plans, however, the company is on the lookout for opportunities that will complement its business.
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