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Yatra joins the list of travel portals in India, bullish on online travel market

01-August-2006
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Yatra joins the list of travel portals in India, bullish on online travel market

Positioned as a fully-loaded travel portal, Yatra.com, which is backed by big names including Reliance Capital, Norwest Venture Partners and TV18 Group, was officially launched on July 31, 2006.

Promod Haque, Managing Partner at Norwest Venture Partners (NVP) and Yatra board member, said, “Yatra is at the forefront of the changing face of travel in India as online travel booking will soon become the norm. Yatra is dedicated to serving the unique needs of the Indian traveller and is poised to become a pre-eminent travel services company in India.”

Harshal Shah, Vice-President at Reliance Capital and Yatra board member, said, “The online travel industry is expected to grow significantly in the near future, just as it did in China. An example of this is Ctrip.com International Ltd, which was founded in China in 1999. The company is now listed on the Nasdaq and has a market cap of $1.56 billion. We believe that Yatra can have a similar or better growth pattern.”

Yatra is the assisted, online and call centre-based travel services company for the Indian market. Booking on the site provides for a host of advantages. There is the option of choosing from an extensive list of domestic hotels. In keeping with the need of the growing middle class travellers in India, the portal has entered a relationship with over 1,000 domestic hotels in over 150 cities and towns across India with a special focus on budget travellers. The site also offers significant number of hotels in the “under Rs 1,000 per room night” category.

It also provides a wide variety of air carriers, which offers customers a broad selection of flights across all major domestic airlines as well as low cost carriers. There is also the option of last minute booking, which offers travellers the convenience of booking flights up to three hours before their departure.

Dhruv Shringi, co-founder and board member of Yatra, said, “We are extremely excited about the launch of our new services, and we are looking forward to working with our customers to obtain their feedback and continue to enhance our site to offer them the most relevant travel choices and best user-experience possible.”

Earlier this year, Yatra Online had announced that it had secured initial funding from Reliance Capital (a member of Reliance - Anil Dhirubhai Ambani Group), Norwest Venture Partners (Promod Haque’s leading venture capital firm), and the Television 18 Group.

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