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Yes Bank and Avenues tie-up to market the HotelsAvenue Solution to the members of Travel Agent Association Of India (TAAI)
May 22, 2010

In a path-breaking move in the banking sector, Yes Bank is now targeting Travel Agents Association of India (TAAI) members with the customized travel solution in a bid to kick start new banking relationships. Mr. Rana Kapoor, Founder/Managing Director and CEO, of Yes Bank announced this bold new push at the 58th Annual Travel Congress organized by the Travel Agents Association of India (TAAI) at Dubai. YES BANK is the Sole Banking Partner for the TAAI annual conventions. This travel solution which is a customized Online Solution for the Travel and Tourism sector has been sourced from its tie-up with Avenues, India's biggest eCommerce company who holds the leadership position in many verticals in the eCommerce space. With this tie-up, branded 'YesHTI' (Yes Bank: HotelsAvenue Travel initiative) YES Bank executives all across India will actively target TAAI members and strike up new relationships using the YesHTI initiative as an entry point.

Already more than two dozen travel agents/ members of TAAI from ALL across the country like Paulo Holiday Makers, Panaji; Bhilai Tours and Travels, Bhilai; Chawla Travel Services, Nagpur; Oasis Holidays, Bangalore; Royal Travel Club, Aurangabad; Navkar Travel, Ahmedabad; Sohum Travels, Panipat; Shrestha Holidays, New Delhi; Premji Travels, Bangalore; Kugan Travels, Coimbatore; Sky Breeze Travels, Chandigarh have become a part of the YesHTI initiative.

Travel and Tourism is a key sector mirroring the growth of the Indian Economy. YES Bank has been quick to recognize the opportunities in this sector and has taken an aggressive step to build its customer base in this high growth sector. This is in tandem with its strategy to develop in-depth and customized product offerings for the industry through its knowledge based approach to banking.

YesHTI is YES Bank HotelsAvenue Travel Initiative, where a TAAI travel agency can start a relationship with YES Bank and get the HotelsAvenue solution. This comprehensive Travel Affiliate Solution will expand the travel agent's business potential by helping it launch its own online travel agency brand. It can also enhancing its offline brick and mortar offerings by expanding its hotel database to include 'ready to book' rooms at 1,00,000 globally situated properties. When the travel agent signs up for the YesHTI program, he gains a comprehensive solution that provides him with real time access to 'instantly bookable' hotel room inventory through an efficient, easy-to-use web based interface. This innovative, valued added 'profit making' service is a perfect example of Yes Bank's push towards providing its customers with more than just banking services. This unique "low Investment" online solution will further enable the tourism business to achieve exponential growth that is unmatched.

Hotels using HotelsAvenue's distribution services also benefit from the alliance with Yes Bank. The bank will proactively promote HotelsAvenue and continuously add new travel agents, agencies and websites to HotelsAvenue's distribution network. This will increase HotelsAvenue's reach to include many more online and offline sales offices, thus maximizing the hotel's occupancy levels.

Mr. Rana Kapoor, Founder/Managing Director and CEO, YES BANKOn the occasion of the launch, Rana Kapoor, Founder/Managing Director and CEO, YES BANK said, "TAAI is the foremost association in the travel and tourism industry in India and has played an instrumental role in the development of the sector for well over 50 years. We are truly privileged to be associated with the TAAI Conventions, and provide comprehensive, transparent and cost-efficient travel solutions online. This unique 'Zero Investment' online solution will further enable the tourism business to achieve unmatched reach, controls and exponential growth."

Mr. Rajinder Rai, President, TAAIRajinder Rai, President, TAAI said, "We are delighted to have YES BANK as the sole banking partner to our conventions. I am happy that YES BANK, that has made tremendous progress in its differentiated knowledge banking approach, is launching a customised product for the travel industry. I am certain that this product will help our industry benefit from better management of our supply chain and usher greater financial prosperity."


Mr. Vishwas Patel, Owner & CEO, AvenuesMr. Vishwas Patel, Founder/CEO, Avenues said, "Economic growth is dependent not only on the big players but also on the small individual players. Starting a business in India is complicated and this often impedes enterprising individuals before they start. Through the 'YEsHTI travel initiative', we aim to make it easier for individuals to enter the travel market by offering them a complete solution that not only provides them with hotel inventory to globally situated hotels but also a booking engine to close sales and receive booking confirmations in real time."

About Yes Bank
YES Bank, India's new age private sector bank started operations in November 2004. It aims to be a state-of-the-art technology driven, high quality, private Indian Bank catering to 'Emerging India'.

In just 4 years since its inception, YES Bank has achieved its goal by creating a presence in the Industry by virtue of its innovative Business Model. Today, it has branches in all major cities across India and offers a comprehensive range of banking products and financial services, which include corporate and institutional banking, financial markets, investment banking, business and transactional banking, retail and private banking business lines across the country.

About Avenues
Incorporated in the year 2001, Avenues is a zero-debt company, which has been profitable from its inception. Avenues is head quartered in Mumbai, India and has subsidiary companies and offices in USA, Singapore and China. Avenues has developed several innovative, cutting-edge ASP hosted solutions that are used by thousands of eMerchants globally. Beginning as a single product company that catered to the local market, Avenues has become a multi-product company that operates on a global scale. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 125 persons spanning across all offices. Avenues has three Business Units namely-Avenues Commercial Services, Avenues Travel Industry Services and Avenues Community Related Services.

About HotelsAvenue
HotelsAvenue addresses the travel agents, online intermediaries, portals etc. aspirations of having live feeds of instantly 'bookable room inventory' of over a hundred thousand global hotels on their own websites. HotelsAvenue will also have live feeds of hundreds of hotel properties based in India, Indonesia, Malaysia, UAE and Egypt that are using the Avenues' 'ResAvenue.com' Solution on their branded website. Working together in tandem, this combination of solutions will create immense value for the travel industry.

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