US based online travel firm Travelocity Global has announced that it has acquired a 100% stake in Travelguru, one of India’s largest hotel distribution networks, for an undisclosed amount.

The industry sources pegged the acquisition size between Rs 45 crore to Rs 50 crore.

However, Mr. Roshan Mendis, Regional Vice-President of Travelocity Asia Pacific, has made it clear that the Travelguru will remain a distinguish entity with co-founder and CEO Ashwani Damera continuing to head its operations.