MakeMyTrip, an online travel company, announced a sourcing tie-up with travel website TripAdvisor, offering its customers tours and activities in over 100 places abroad.
“Our data shows consistent increase in the number of outbound Indian travellers who are willing to spend more on new and differentiated local experiences. With the roll-out of international experiences with TripAdvisor on our platform, we are confident that we can now empower Indian travellers with more choices when they travel overseas,” said Deepak Tuli, chief business officer (new business), MakeMyTrip.
The hotels and associated package business gives better margins than air ticketing; hence, MMT’s aim to grow the segment. While the air ticketing segment had an adjusted revenue margin of around seven per cent in 2018-19, the hotel and package business segment’s was 23 per cent.
The firm made a net loss of $168 million (nearly Rs 1,200 crore) in FY19, a 23 per cent decline from the year before.
International hotels and packages is one of the fastest growing segments, an MMT spokesperson said. The firm was investing here in technology, products, supply and brands to achieve growth. “In the last quarter, we contracted with over 8,000 properties. Further, room nights growth from this segment has been fairly robust and we foresee a similar growth pattern in the coming month,” the spokesperson added.
Source: Business Standard