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Cleartrip plans $12m ME investment

Dubai, May 2, 2012

Cleartrip, a leading online travel booking portal, recently raised $40 million for its continued expansion in the Middle East region and now plans to invest up to $12 million over the next two years, said a senior official.

Unveiling its big plans at the Arabian Travel Market expo, Jae Hyung Kim, the company president and head of business development, said, "This move is part of Cleartrip’s long-term strategy to explore new and dynamic markets with a full product range customized for each country."

Cleartrip, he said, has been localized for each country in the GCC, to make travel simple with comprehensive content, innovative technology, responsive customer service and a travel platform that strives to just work better.

This week, Cleartrip announced the launch of its customized websites in Oman, Qatar, Bahrain and Kuwait.

"Cleartrip has ensured the most comprehensive offering for its customers in the UAE, Oman, Qatar, Bahrain and Kuwait. With over 250 flights and 70,000 hotels to choose from and access to a simple, comprehensive and quick online travel portal, Cleartrip allows customers to efficiently book flights and hotels," he remarked.

In February, the company had sold 600 air tickets and 100 room nights each day, reflecting a 120 per cent increase over the last year, said Jae.

After launching the new country-specific websites, the company is looking to increase these numbers to 1,000 air tickets and 200 room nights daily by the end of 2012, he added.

According to him, the $1 billion e-travel market is set for significant growth in the region.

"Our strategy is to ensure our performance, expansion and services match this growth. We have been in the UAE for almost 2 years now and we are confident that exhibitions, such as the ATM are the ideal platforms to announce these plans,” he added.-TradeArabia News Service




Tags: Middle East | investment | Cleartrip | online travel agency |

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