Travel booking platform ixigo (Le Travenues Technology Ltd) announced on Friday (June 5) that its board has approved the acquisition of a 54.66% stake in Brevistay Hospitality Private Limited for ₹65.69 crore through a mix of secondary and primary share purchases. According to reports from Business Standard, the company entered into an agreement to acquire the stake for a total investment of ₹65.69 crore, with the transaction completed through secondary and primary share purchases. Following completion of the transaction and fulfilment of conditions under definitive agreements, Brevistay will become a subsidiary of ixigo. The acquisition will include a non-compete fee and the company will also have the right to acquire the remaining stake in the future, subject to certain agreed conditions. The transaction is expected to be completed on or before July 31, 2026.
The acquisition will significantly expand ixigo's hotel business and increase its directly contracted hotel network to over 10,000 properties across India. As reported by Business Standard, together, ixigo and Brevistay's hotel network comprises over 10,000 directly contracted hotels across India, significantly accelerating ixigo's hotel onboarding efforts. The combined network includes more than 10,000 directly contracted hotels across the country, with the acquisition aimed at strengthening ixigo's hotel business and expanding its presence in India's accommodation segment. According to Anand Rathi Institutional Equities, the deal is expected to expand the platform's mid-budget hotel inventory, with hotels being an attractive segment for online travel agencies carrying commissions of around 15-20%.
Founded in 2016, Brevistay operates a platform that enables users to book hotel rooms for flexible durations, including hourly stays. According to Business Standard, the company reported an unaudited turnover of ₹18.1 crore in FY26, compared with ₹12.23 crore in FY25 and ₹8.83 crore in FY24, showing consistent growth in its revenue base. The platform's network spans budget, mid-scale and premium hotels across both Tier-I cities and Tier-II and Tier-III towns in India, with flexible-duration stays available across ixigo's ecosystem. ixigo's revenue from operations in Q4FY26 rose 8% year on year to ₹308.05 crore, while gross transaction value (GTV) was up 4% at ₹4,798 crore.
According to ixigo, the transaction is expected to combine Brevistay's hotel supply network, flexible-stay booking expertise and hotel partnerships with ixigo's AI-led technology capabilities, customer base and travel ecosystem. Aloke Bajpai, Group CEO, ixigo and Rajnish Kumar, Group Co-CEO, ixigo, said that Brevistay has built a category-defining platform with deep hotel partnerships and a strong presence in the flexible-stay segment. They noted significant opportunities to leverage technology, AI, and distribution to create a more comprehensive accommodation ecosystem for Indian travellers while helping hotel partners maximise utilisation and revenue, targeting a diverse pool of hotel bookers. Shares of Le Travenues Technology Ltd rose 1.09% to ₹157.15 on the BSE following the announcement, reflecting positive investor reaction to the strategic acquisition news.
In a separate development, ixigo approved an investment of ₹7.5 crore in Ofintelligence Technologies Pvt Ltd (Proactai) for a 10.34% stake through subscription of compulsorily convertible preference shares. Proactai, incorporated in May 2024, develops vertical foundational AI models focused on person re-identification and object tracking, reporting unaudited revenue of ₹12.02 lakh in FY26. The company also approved an investment of ₹4.5 crore in Forgeurai Systems (Vestra.AI) through subscription of 450,000 fully convertible debentures, with the startup developing AI operating systems for enterprises and reporting revenue of ₹1.25 lakh in FY26. According to Anand Rathi Institutional Equities, investors continue to place faith in the management's execution capabilities and track record, with the confidence coupled with the long runway in hotels making Ixigo a compelling two-to-five-year story rather than a near-term trade. However, analysts note that execution will be key, with meaningful results from the Brevistay acquisition expected to take at least two years given the highly fragmented nature of the hotel market.
