Seera Group Holding, previously known as Al Tayyar Travel Group, seeks to achieve SAR 3 billion sales through its online platforms in 2019, the company’s chief told Argaam on Monday.
“Currently we plan to focus on our core travel market business, which includes consumer, business and Haj and Umrah,” Abdullah Al Dawood, managing director and CEO at Seera, said.
“Presently we have a small market share of up to 4 percent in consumer travel in Saudi Arabia. We will continue to invest in this platform and will not hesitate to deploy capital,” he continued.
Al Dawood further mentioned that investments for boosting the online business will be coming from the proceeds from its stake sale in Dubai-based Careem.
In March 2019, Seera sold its 17.7 percent stake in the ride hailing app in a $3.1 billion acquisition to Uber Technologies.
“We are still in the process of planning our capital allocation from the deal. We are planning to deploy more towards the consumer travel market as we have seen a massive growth over the past two years,” he said.
The company recently rebranded from Al Tayyar Travel Group to Seera Group Holding.
Write to Paromita Dey at paromita.d@argaamplus.com
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