Bennett Coleman & Co Ltd (BCCL) has acquired a stake close to 17% in Bangalore-based Leisure & Lifestyle Information Services (LLIS), constituting both equity and convertibles.
LLIS is a travel media company that owns the popular holiday planning website www.holidayIQ.com. Prior to BCCL's investment the company had received funding from Erasmic Ventures (in which Google had recently taken a limited partnership) and Vireet Investments.
What makes HolidayIQ stand out from the host of travel websites is that it comprises entirely of feedback from travellers which makes it the preferred resource for intelligent holiday planning. There are no business transactions that happen on this online 'travel community' forum.
However, the site has tie-ups with various online travel agents and airlines. Therefore, on finalising a holiday, a traveller can go to these online agents through HIQ.
While there has been an explosion of online airline and hotel booking agents, the travel advisory space is uncontested. Now, with the rapid rise in Indian tourists, this market appears set to explode.
“HIQ plans to develop holiday offerings across books, magazines, radio & TV shows and mobile downloads. We could not have asked for a better partner than BCCL, market leader in media,” said Hari Nair, founder & CEO of LLIS.
Source : Times of India