TravelNews

[Travel News]: MakeMyTrip turns to India’s hinterlands in the first quarter to win new customers

TheTourAttraction.com aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. TheTourAttraction.com look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information TheTourAttraction.com provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.

The following is the [Travel News]: MakeMyTrip turns to India’s hinterlands in the first quarter to win new customers from [Skift] recommended by TheTourAttraction.com:

Gross Bookings reached $1,612.5 million in 1Q23 versus $286.7 million in 1Q22.

In its quest to win new customers, India’s MakeMyTrip is looking to tap into corporate travel, and its networks of franchisees and small travel agencies.

Traditionally focused on retail customers, the online travel company is now looking to improve its outreach to customers in India’s hinterland by tapping into small travel agencies across the country for last-leg booking via its platform and franchise stores.

“Our target is to double the booking contribution coming from these demand segments from about 7 percent last year to around 15 percent over the next few quarters,” co-founder and Group CEO, Rajesh Magow said during the company’s fiscal 2023 first quarter earnings call on Wednesday.

With work patterns gradually getting back to pre-pandemic normal, MakeMyTrip expected corporate travel demand momentum to further pick up in the coming quarters, aiding overall demand recovery for the travel industry.

Calling India an under-penetrated travel market, MakeMyTrip noted a huge scope of growth as there is a higher willingness to travel and book online among the young working population with increasing disposable income.

The operating profit mark in MakeMyTrip’s fiscal 2023 first quarter, which ended June 30, compared with an operating loss of $8.2 million a year earlier when the pandemic severely impacted operations. Revenue grew 335 percent year-over year to $142.7 million in the first quarter.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button