Brevistay Deal Strengthens Ixigo’s Hotel Booking Business
Le Travenues Technology, the parent company of online travel platform Ixigo, has approved the acquisition of a 54.66% stake in hotel booking startup Brevistay Hospitality for Rs 65.69 crore, including a non-compete fee. The move marks a significant expansion of Ixigo’s hospitality business as the company looks to strengthen its position beyond its core travel booking offerings.
According to a stock exchange filing, the acquisition will be completed through a combination of primary and secondary share purchases. Upon completion of the transaction, Brevistay will become a subsidiary of Ixigo. The company also retains the option to acquire the remaining stake in the future, subject to certain conditions.
Founded in 2016, Brevistay operates a flexible hotel booking platform that allows users to reserve hotel rooms for shorter durations instead of traditional overnight stays. The startup has demonstrated consistent growth over the past three years, reporting revenue of Rs 18.1 crore in FY26, compared to Rs 12.23 crore in FY25 and Rs 8.83 crore in FY24.
The acquisition aligns with Ixigo’s strategy to expand its presence in the accommodation segment and offer more diversified travel solutions to customers.
Why Is Ixigo Investing In AI Startups?
Alongside the Brevistay acquisition, Ixigo has announced investments in two artificial intelligence startups as part of its broader technology roadmap.
The company’s board approved an investment of Rs 7.5 crore in Ofintelligence Technologies, also known as Proactai. Through the transaction, Ixigo will acquire a 10.34% stake in the company via the subscription of compulsorily convertible preference shares.
Proactai is focused on building foundational AI models designed for person re-identification and object-tracking applications. These technologies have potential use cases across security, surveillance, mobility, and enterprise intelligence systems.
In a separate transaction, Ixigo approved an investment of Rs 4.5 crore in Forgeurai Systems, which operates under the brand Vestra.AI. The investment will be made through the subscription of 450,000 fully convertible debentures.
Vestra.AI develops AI operating systems for enterprises with a focus on autonomous AI agents, workflow automation, and intelligent business process orchestration.
According to Ixigo, both investments are intended to accelerate the development of AI-powered software capabilities and support the company’s long-term technology ambitions.
Strong Financial Performance Supports Expansion Strategy
The transactions come at a time when Ixigo continues to deliver healthy financial growth. During the fourth quarter of FY26, the company reported revenue from operations of Rs 308 crore, compared to Rs 284 crore in the corresponding quarter of FY25.
Profit after tax surged 92% year-on-year to Rs 32 crore during the quarter, up from Rs 16.7 crore a year earlier.
The company expects the investments in Brevistay, Proactai, and Vestra.AI to strengthen both its travel ecosystem and technology capabilities. While the AI investments provide exposure to emerging technologies, the Brevistay acquisition enhances Ixigo’s hotel booking portfolio and creates additional growth opportunities within India’s expanding online travel market.
The investments in Proactai and Vestra.AI are expected to be completed by July 5, while the Brevistay acquisition is scheduled to close by July 31.
