Carriers, online travel agencies rev up as burgeoning corporate travel offers rich pickings
online travel agencies (OTAs) and scheduled airlines, as business travel soars in lockstep with the resumption of normal office routines. «Return to office remains a key driver of increased corporate travel, as companies balance remote, in-office and hybrid work,» said Praveen Iyer, cofounder of Akasa Air. «With hybrid work models, employees are traveling frequently for meetings, collaboration and industry events like conferences and trade shows.»
MakeMyTrip's corporate travel platforms, myBiz and Quest2Travel, crossed a gross booking value of $200 million for the first time in the quarter ended June, underlining growth prospects.
Yatra's billing from the corporate segment crossed about $24 million (₹200 crore) for April-June, 77% higher than the previous three-month period. «We have to focus on really doubling down on the corporate side,» said Dhruv Shringi, chief executive of Yatra Online. The OTA derives 55% of its revenue from the B2B segment.
Corporate travel is expected to double in the next six years, after staying circumspect through the Covid years.
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