Weekly Digest: Klook pulls NYSE IPO, Agoda and ETG swap supply

From 12 to 18 October, Klook dropped its US listing plan, Agoda and Emerging Travel Group agreed to share hotel supply, India’s two large online travel agencies posted opposite results, and two Southeast Asian tourism boards struck deals with global platforms.

1. Klook shelves its US$400 million NYSE listing. On 16 October, Klook Technology asked the US Securities and Exchange Commission to pull its offering, withdrawing its F-1 registration first filed in November 2025. The filing says the company does not intend to proceed with the public offering at this time. The deal had been pegged at US$400 million, to trade on the NYSE as KLK. Renaissance Capital lists revenue of US$541 million for the 12 months to 30 September 2025, 54 million experiences booked in 2024, about 11 million annual transacting users and about 310,000 offerings across about 4,200 destinations. A Klook spokesman told Reuters that experiences booked are heading past 80 million this year, and that current market conditions make this the wrong moment to list. Growth at that scale did not open the window.

2. Agoda and ETG trade hotel supply. On 16 October the two companies announced a two-way supply deal. Agoda takes ETG’s worldwide hotel inventory through the RateHawk API, while ETG gets a larger footprint in Asia-Pacific. ETG says its bookings to Asia-Pacific destinations are up an average of 30% in 2026, and East and Southeast Asia sit among its five biggest destination markets. Travolution adds that ETG has more than 360 connected suppliers and has signed comparable agreements with Simple Booking, H10 Hotels and Meliá. A hotel that contracts with one wholesaler may now find its rooms on sale through several more channels.

3. India’s two OTAs head in opposite directions. ixigo reported a consolidated net profit of Rs 63.4 crore for the second quarter of FY27, after a Rs 3.5 crore loss in the same quarter a year earlier. Operating revenue climbed 12.9% to Rs 321 crore. The profit includes a Rs 40.7 crore gain from reducing its Freshbus holding to 8.27% from 25.66%. Hotels did the heavy lifting: gross transaction value there grew 158.7% to Rs 111.3 crore and room nights jumped 295% to 4.7 lakh, while total GTV rose 22% to Rs 5,304.5 crore, Inc42 reported. Over at Flipkart-owned Cleartrip, the FY26 net loss widened 28.1% to Rs 805 crore from Rs 628.4 crore, on operating revenue of Rs 198.3 crore, up 20.8%. That is a loss of roughly four rupees for each rupee of revenue. Stripping out the one-off gain, ixigo still grew revenue and moved its hotel business fastest.

4. Singapore signs GetYourGuide as a distribution partner. The Singapore Tourism Board and GetYourGuide put their names to a two-year memorandum of understanding in Berlin, TTG Asia reported. It spans market insights, product development and joint marketing, and it is GetYourGuide’s first destination marketing tie-up outside Germany. A national board is working with an experiences marketplace on product and data, which goes well beyond buying advertising space.

5. Thailand pairs up with Tripadvisor. On 17 October the Tourism Authority of Thailand and Tripadvisor agreed a letter of intent, Travel and Tour World reported. It covers digital promotion and the sharing of traveller data and market intelligence, with high-value tourism as the target. No financial terms were disclosed. Set beside the Singapore agreement, two boards in one week chose data access and platform reach as the thing they want from a partner.

Key takeaway

The week’s five stories all concern who controls the route to the traveller: platforms are swapping supply and data, boards are signing platforms as partners, and investors are holding back on listings even where bookings grow. Operators should map which of those routes already carry their inventory, and which board or supplier agreement is worth pursuing next. ITB Asia and Travel Tech Asia run from 21 to 23 October in Singapore, with Agoda, Booking.com and KAYAK on the Travel Tech Asia Theatre programme.

Daksh Sharma

Chief Editor, TravHQ

Daksh Sharma is a travel tech enthusiast and a prolific voice in the B2B travel industry. A speaker at numerous travel-tech events, he is at the forefront of digital and AI adoption in travel. He conducts AI training and implementation programmes and works as a digital advisor to a number of global B2B brands.

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