EaseMyTrip to invest Rs 100 crore to build a 5-star hotel in Ayodhya
New Delhi: EaseMyTrip.com Monday announced the in-principal approval of the board by proposing its newest joint venture: a luxurious 5-star hotel in the prime location of Ayodhya, strategically situated near the iconic Shree Ram Mandir.
The company said that this initiative represents a significant stride towards enriching the spiritual journey of pilgrims and tourists.
The hotel’s prime location is less than 1 kilometer from the revered temple.
Ayodhya’s status as a premier destination underscores the importance of enhancing the visitor experience at pilgrimage sites.
Religious tourism witnessed 1439 million tourists in 2022 and the places of religious tourism earned INR 1.34 lakh crore in the same year. The sector is expected to generate a revenue of 59 billion by 2028, creating 140 million temporary and permanent jobs by 2030.
EaseMyTrip, as one of the joint venture partners, is committing to invest up to INR 100 crores in Jeewani Hospitality Private Limited, the entity super heading the project under incorporation.
This investment will represent 50% of the total paid-up share capital of the JV Company on a fully diluted basis through equity swap, once finalised. These details are outlined in the proposed JV transaction agreed upon by the involved parties.
Nishant Pitti, CEO & Co-Founder, EaseMyTrip, said, “We are delighted to announce our intend towards the newest Joint Venture, a lavish retreat that not only epitomizes luxury but also cultivates a tranquil ambiance amidst the dynamic religious ambiance of Ayodhya. With over 2.4 million visitors flocking to Ayodhya following the Pran Pratishtha of the Ram Temple, the city has emerged as a prime investment destination for businesses to offer hospitality options tailored to tourists and inviting guests to delve into a spiritually fulfilling journey while relishing in top-notch hospitality.”
Dhruv Jeewani, Director Jeewani Hospitality, said, “We are incredibly enthusiastic about the proposed partnership with EaseMyTrip, which marks a significant milestone for Jeewani Hospitality. Our family is staying in Ayodhya for 60 years and we welcome EaseMyTrip to Ayodhya. By collaborating with one of India’s leading online travel platforms, we are poised to create a truly exceptional 5-star hotel experience near the revered Shree Ram Mandir in Ayodhya. Our vision is to offer guests not only luxurious amenities but also a deeply immersive spiritual journey, complementing the vibrant religious landscape of Ayodhya.”
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