Kuoni Travel Group India Pvt. Ltd, a unit of Zurich-based Kuoni Travel Holding Ltd, is looking to buy at least three specialized travel companies over the next year. These acquisitions could cost anywhere between 10 crore and 300 crore, managing director Rajiv Duggal said.

Investment bankers are not involved at the moment. Kuoni India wants to acquire companies that provide package tours, organize meetings, conferences and exhibitions for companies, and provide travel-related services such as organizing visas as per a report by P R Sanjai in Mint.

"Ten years ago, the strategy was to gain market share. So we made a series of acquisitions," said Mr. Duggal. "We will now start second line of acquisitions as now inorganic growth is important. But going forward, we will be acquiring only specialised travel companies." Kuoni entered India in May 1996 by acquiring a 51% stake in travel agency SOTC. It followed this up with a clutch of acquisitions including that of Sita World Travel in 2000. Kuoni India's core activities in India include inbound travel management and education travel.

Travel companies in India are aggressively scouting for acquisitions to expand both within the country and abroad. Kuoni's competitors are already making big acquisitions. In the biggest overseas acquisition by an Indian travel company, Cox and Kings Ltd, through its UK unit Prometheon Holdings (UK) Ltd, agreed to acquire Holidaybreak Plc. for £312 million in cash in July. It was Cox and Kings' ninth acquisition in six years. Online travel company MakeMyTrip Ltdacquired a majority stake in Luxury Tours & Travel Pte Ltd, a Singapore-based travel agency that provides hotel reservations, excursion tours and related services, in July for an undisclosed amount. Yatra Online Pvt. Ltdacquired Magic Rooms Solutions (India) Pvt. Ltd, which offers online hotel bookings, in July, again for an undisclosed sum.

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