MakeMyTrip Financial News

Christmas and year-end season? Pretty much everywhere! Going by most accounts, the October to December quarter this year is likely to be a bumper quarter for the travel and hospitality sector with most companies claiming to have an even better momentum than in 2019. «There is a lot of talk about high airfares but the important thing to note is that people are travelling,» said Rajesh Magow, cofounder and group CEO of MakeMyTrip. «Typically, international travel bookings, even for short-haul travel, are made a couple of weeks or more in advance. However, with markets such as Thailand and others making the entry process a lot easier, we are seeing advance purchase windows for these destinations becoming shorter, in many cases, stretching to a couple of days,» he said. As per MakeMyTrip data, the top destinations for the last week of December in the domestic sector include Goa, Rajasthan, Varanasi, Kerala, Rishikesh and Kashmir. In terms of international flight bookings, popular destinations such as the UAE, Thailand, Singapore, and Indonesia continue to be favourites.

visa-free destinations as their ideal choice of international destination. As per MakeMyTrip, countries that removed visa requirements for travelers from India have seen over 30 percent positive uptick in terms of searches and bookings. Ahead of the Christmas vacation, several Asian countries including Malaysia, Thailand, Vietnam, Sri Lanka have recently announced that they are implementing visa-free entry for visitors from India and other countries.

NEW DELHI : India’s travel and tourism industry is poised for significant growth this financial year as more people travel overseas or make time for short getaways despite rising airfares, as per a new study. Collectively, revenue is expected to increase by about 30% in the ongoing financial year, and by about 18% over pre-pandemic peaks, ratings agency Crisil said in a statement.

5-star hotel free of cost by transferring your credit card reward points to a hotel loyalty program? Let us understand how. A hotel loyalty program is a membership program that offers you various benefits during your stay at a property that is part of the hotel group. It is used to get new customers as well as retain existing ones to stay at the various hotel properties within the group.

Mint. The state has welcomed 10 million tourists since March, exceeding its pre-pandemic figures. This represents a potential 30% increase from 8.1 million visitors seen in 2019 However, the state's international tourism, particularly from the UK and Russia, has yet to fully recover India's bilateral issues with the UK and the Russia-Ukraine war have had a major impact on international tourist arrivals. To counter this, Goa is diversifying its tourism strategy.

SEATTLE, WA : In May, Sam Altman, co-founder and chief executive officer of Microsoft-backed OpenAI who was fired on Friday, had stirred a hornet’s nest, commenting on India’s attempt to develop a generative artificial intelligence (AI) tool like ChatGPT, terming it “hopeless", while responding to a question by Rajan Anandan, the managing director of Peak XV Partners, and a former head of Google India. Altman later clarified that his response was “…really taken out of context! (and that the)...question was about competing with us with $10 million (as opposed to $100 million), which I do think is not going to work..." That said, India does not have a semiconductor fab to build chips required to power a large language model (LLM) or LLM-powered chatbot.

NEW DELHI : Retailers across the board may suffer after the Reserve Bank of India barred the largest consumer goods financier Bajaj Finance from disbursing loans under two products. On Wednesday, RBI barred Bajaj Finance from lending under its two products—eCom and Insta EMI Card—citing non-compliance with digital lending guidelines. Several retailers that Mint spoke with said this move will significantly impact retailers—both online and offline.

air quality index (AQI) breaching hazardous levels in and around the National Capital Region, corporate India is stepping up measures to shield employees from the perils of toxic air. The AQI crossed 700 (a value above 150 is considered unhealthy) in many parts of the NCR on Thursday, forcing the shutting down of primary schools. Over a dozen companies including Deloitte, KPMG, Panasonic, BigBasket, BluSmart, Zepto and CIEL HR Services that ET spoke with said they are taking initiatives include offering work-from-home options to employees, providing masks at offices and to frontline staff, installing air purifiers and indoor plants as well having a doctor on call.

MakeMyTrip announced on Tuesday that its wholly-owned subsidiary, MakeMyTrip (India) Private Limited has entered into an agreement to acquire a majority interest in Savaari Car Rentals Private Limited, provider of inter-city car rental services in India. “The transaction is expected to be completed prior to December 31, 2023.

bob LITE Savings Account’ details: Bank of Baroda (BoB) has introduced bob LITE Savings Account, which is a Lifetime Zero Balance Savings Bank Account. The facility has been launched as a part of “BOB Ke Sang Tyohaar Ki Umang” festive campaign. bob LITE offers customers a hassle-free banking experience without any minimum balance requirement, the bank said in a statement.  

MakeMyTrip was under fire over its advertisement for trying to encash the excitement of the India-Pakistan World Cup 2023 match on October 14. In the print edition of Ahmedabad Times the front page advertisement stated that MakeMyTripand Homestays & Villas offers ‘An open invitation to Pakistani fans.’ It further mentioned discount coupons to Pakistani nationals if certain conditions were met that involved Pakistan losing the cricket match.

NEW DELHI : An attempt by online travel agent MakeMyTrip to cash in on the excitement around Saturday’s India-Pakistan cricket match attracted criticism, with many users calling its print advertisement insensitive and in poor taste. The ad for MakeMyTrip’s homestays and villas business ‘invited’ travellers from Pakistan to use its services with discount codes if Pakistan lost by a certain number of runs on its ICC Men’s Cricket World Cup clash with India in Ahmedabad. What was perhaps intended as a joke prompted many users on social media platforms like LinkedIn and ‘X’ to call it insensitive and full of racial tonalities.  The ad gave an ‘open invitation’ to Pakistani fans.

World Cup is driving up bookings for accomodations in host cities, specially where India is slated to play, thereby pushing up room tariffs, according to travel and hospitality players. Ahmedabad, Hyderabad, Bangalore, Delhi, Kolkata and Dharamshala are among the cities which have witnessed a surge in demand, as per booking trends of MakeMyTrip, OYO and Yatra Online.

mobility-aggregator business is seeing an accelerated turnaround. But the revival is being driven by new entrants who are challenging the dominance of ride-hailing giants Ola and Uber.GROWTH SURGE These include Rapido in the auto category; Blu Smart, with its electric car fleet in Delhi-NCR and Bengaluru; Drife, with a blockchain-based business model headquartered in Bengaluru; Shoffr, a premium taxi service, and several new firms operating specifically in the lucrative airport and inter-city service segments, as well as online travel agents like Makemytrip and even airlines, who are offering airport transport as part of their value-added services.

₹135-142 apiece, which is at a sharp discount to the price at which the company had issued shares to one of its promoters last year. Yatra Online had sold shares worth ₹62.01 crore by way of a rights issue to THCL Travel Holding Cyprus Ltd., a promoter, as a pre-IPO placement on 10 December 2022 at an issue price of ₹236 apiece, the company said in a statement. Nasdaq-listed Yatra Online, Inc., founded by Dhruv Shringi, is the parent company of Yatra Online Ltd.

G20 Summit: 'Delhi is not Bandh' Police denies MakeMyTrip's bandh email to customers "Thank you, @makemytrip, for putting up our traffic advisories on your microsite and helping us disseminate the right information to make travel smooth for all in Delhi," it wrote on X. The Delhi Police had asked MakeMyTrip on Monday to retract an e-mail claiming that the national capital was "shut" during the summit. The Police also informed people that the movement will be restricted only in the New Delhi district.

online delivery services on September 4 at a press conference, in view of the upcoming G-20 Summit as reported by PTI. On September 3, the Station House Officer of Daryaganj police station in the Central district initially issued an order for the shutdown of shops, offices, and bus depots, but this directive was later withdrawn, reported The Hindu.

This will also mean the loss of opportunity to widen their customer base with a number of foreign nationals visiting India, said representatives of multiple retailers' associations.SOTC and MakeMyTrip are, however, seeing a rise in business thanks to those choosing to skip out of the NCR during that period shooting up in the last few days. Schools, colleges and some private offices are shut and the rest will turn to remote working, executives told ET. «Given that schools will be closed, also certain corporates, businesses, we are witnessing an unusual surge in travel,» said Indiver Rastogi, president and group head, global business travel, Thomas Cook (India) and SOTC. Rajesh Magow, cofounder and group CEO, MakeMyTrip, said, «The government's official holiday announcement over the G20 meet days has triggered an increase in searches for cities within drivable distance from Delhi.»Security measure MakeMyTrip has seen a surge in searches for accommodation bookings in destinations such as Sawai Madhopur, Manesar, Amritsar, Vrindavan, Agra, Udaipur, Jaipur etc.

ICICI Bank announced the launch of 'Monsoon Bonanza' on August 8 to provide customers with a wide range of deals and discounts across categories including laptops, flights, mobile phones, hotel bookings, among others. The private lender is offering discounts and cashback of up to 50 percent, which can be availed using the bank’s credit or debit cards and internet banking. EMI offers are also available on credit and debit cards.