Connect with us

Travel Market Insights

IndiGo Co-Founder Continues Exit With $801 Million Share Sale

Published

on



IndiGo co-founder and promoter Rakesh Gangwal is again planning to sell off shares worth $801 million. The shares account for over 3% stake in the airline. If the sale goes through, Gangwal’s stake in IndiGo’s parent company InterGlobe Aviation will go down to 4.71%. In December 2021, Gangwal owned 36.6% of IndiGo, while current managing director of IndiGo Rahul Bhatia’s stake was 37.8%.

With this latest move, Gangwal would have offloaded almost 32% of his stake in the company. 

This is the latest in Gangwal’s gradual retreat from IndiGo. He stepped down from IndiGo’s board in February 2022 and has been reducing his stake since then. This year alone, the Gangwal family has offloaded 9% stake in the airline, including a block deal in May involving 5.7% shares of IndiGo. 

IndiGo was co-founded by Gangwal and Bhatia in 2006. Gangwal resigned from the board in 2022. At the time of resigning Gangwal had said that he intended to cut down his stake



Source link

Travel Market Insights

Answer Three Questions, Get a Bookable Trip

Published

on



Trip.com Group’s latest AI push reads like a bet on doing more with less. The company is trying to shrink the work a traveler must do to plan a trip. Answer three simple questions — destination, length, travel style — or drop in a single image. The system then serves a full, bookable itinerary.

The company ties those quick inputs to real booking data, that includes verified inventory, live prices and availability, and millions of internal signals. This ensures suggestions are meant to be actionable, and not just aspirational.

The company also hands control back to users. The itinerary is only a starting point. Travelers can edit routes on an interactive map, swap attractions, and call in a human agent to polish details. That combo of automated speed plus human finish is where the company is trying to find its edge.

In its latest earnings call, James Liang, co-founder and executive chairman of Trip.com Group, said the upgraded Trip Planner, a on



Source link

Continue Reading

Travel Market Insights

Trump Administration Plans Penn Station Overhaul

Published

on



Officials from the Trump administration said Wednesday that a multi-billion dollar renovation of New York’s Penn Station will start by the end of 2027. 

The administration had taken control of the project from the Metropolitan Transportation Authority in spring, partnering with Amtrak to renovate one of the busiest train stations in the country. 

“They spend a lot of money, I’m not pleased with their deliverables, and I did not have faith that they could deliver on this project,” said Transportation Secretary Sean Duffy at a press conference at Penn Station Wednesday. 

Amtrak executive Andy Byford was appointed by President Donald Trump to oversee the project and said the company will partner with a private developer for the renovations. Byford did not specify how much the project would cost or how long it would take. 

Amtrak is receiving $43 million i



Source link

Continue Reading

Travel Market Insights

DerbySoft Announces Expanded Relationship with Oracle

Published

on



  • DerbySoft Acquires AI Automation Platform, Arise, Expanding Travel Agent–Hotel Collaboration – Image Credit DerbySoft   

DerbySoft, a leading provider of commerce services and content platforms for the hospitality industry and an Oracle partner, has expanded its partnership with Oracle to offer customers an integrated channel management solution using Oracle Hospitality OPERA Cloud Distribution. The majority of DerbySoft’s demand channels are expected to be available to Oracle Hospitality customers in the coming months.

When available, properties will have a streamlined method to distribute their Availability, Rates, and Inventory (ARI) metrics to various channels, leveraging advanced connectivity with DerbySoft. Hotels can centrally manage distribution channels directly from the OPERA Cloud Hospitality Platform, offering consistency and accuracy across OTAs, metasearch, and other partners. All setup, mapping, and configuration are handled from a single Oracle user interface, reducing efforts, logins, and learning curves.

“DerbySoft is excited to work with Oracle Hospitality to help support Oracle customers in new and innovative ways to evolve distribution opportunities for the hospitality industry.” states Duane Overgaard, President and Divisional CEO for the Hospitality Division, DerbySoft.

This partnership reflects DerbySoft’s connectivity offerings and the ability to grow connections for both Oracle and its properties.

About DerbySoft

DerbySoft is the Travel Commerce Accelerator with a mission to converge the diverse elements of travel, creating a unified and efficient ecosystem of connectivity services, high-performing AI-driven marketing services, and an end-to-end content platform. Our world-class services are designed to deliver seamless, frictionless commerce, accelerating the pace at which travel businesses can connect, grow, and optimize profit. DerbySoft consistently pushes the boundaries of innovation to unlock new opportunities and accelerate travel commerce.

Our team of Hospitality and Flight industry experts is passionate about uniting people and technology and committed to enhancing every aspect of travel, making it more accessible, efficient, and enjoyable for all. Including the acquisition of PKFARE in 2024, our approach is centered on making travel better – not just for today, but for years to come, for both the Hospitality and Flight industries.

Headquartered in Dallas, Texas, USA, DerbySoft’s cutting-edge technology is trusted by the world’s leading online travel distribution, hotel, and flight companies in 197 countries. To learn more, visit DerbySoft.com.

About Oracle’s Partner Program

Oracle’s partner program helps Oracle and its partners drive joint customer success and business momentum. The newly enhanced program provides partners with choice and flexibility, offering several program pathways and a robust range of foundational benefits spanning training and enablement, go-to-market collaboration, technical accelerators, and success support. To learn more, visit https://www.oracle.com/partner/.

Trademark

Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

COMPANY CONTACT INFO

Caroline B Terry
Director, Corporate Marketing
DerbySoft
caroline.terry@derbysoft.net



Source link

Continue Reading

Trending

Copyright © 2025 AISTORIZ. For enquiries email at prompt@travelstoriz.com