Middle Eastern mobile and online travel company Cleartrip has partnered with Saudi Arabian OTA Flyin to capitalize on growing shift to online in the Middle East and North Africa (MENA) region, the companies said.
Together, the combined company will have over 60% market share throughout the Middle East.
This transaction, the largest in the travel space in MENA, will offer Cleartrip a wider outreach and a larger client base in a key market, providing economies of scale as well as enhanced competencies and regional knowledge. Cleartrip has recorded rapid growth year-on-year since the company launched its regional operations in 2012 to become the largest OTA in Middle East.
The transaction will enable both companies to leverage new technologies, talents and business intelligence to strengthen their travel offerings to cater to a diverse global customer base.
Cleartrip occupies a leading market position in the Air and Accommodation segments, with over 10 million flight tickets and 1.5 million hotel room nights sold annually. With the launch of Cleartrip Local in 2016, the pioneering and technology-driven company became the first travel aggregator globally to provide online discovery and bookings of over 15,000 hyper-local leisure activities and things-to-do across categories such as outdoor activities, events and F&B. C
Flyin offers integrated travel services and innovative solutions for customers across the MENA region and around the world. Through its direct access to 320,000+ hotels, 450+ airlines and one of the widest networks of travel products and services, Flyin is the largest online travel company in KSA.