[Travel News]: Trip.com-backed OTA MakeMyTrip releases annual filing, reporting 1.2 million enrollments in loyalty program
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The following is the [Travel News]: Trip.com-backed OTA MakeMyTrip releases annual filing, reporting 1.2 million enrollments in loyalty program from [ChinaTravelNews] recommended by TheTourAttraction.com:
Trip.com Group holds a 16.42% stake in MakeMyTrip’s ordinary shares.
India’s biggest online travel group MakeMyTrip released latest 20-F filing recently.
As of March 31, 2022, approximately 60,000 properties in India including alternative accommodation properties, were available to customers for booking through the platform.
In addition, customers can book over 700,000 hotels and properties outside India, as well as tickets from Indian Railways and over 4,500 bus operators as of March 31, 2022.
The company recorded a net loss of $(447.5) million in fiscal year 2020. In fiscal year 2021, it reported a net loss of $(56.0) million. In fiscal year 2022, in response to the gradual recovery in domestic travel demand as a result of the diminishing impact of the COVID-19 pandemic in India, revenue and operating expenses increased and it reported a net loss of $(45.6) million.
In fiscal year 2021, MMT relaunched premier, invite-only “MMT Black” loyalty program with enhanced benefits. As of March 31, 2022, MMT had 1.2 million enrollments in MMT Black.
The filing shows that Trip.com Group holds a 16.42% stake in MakeMyTrip’s ordinary shares, 100% of its Class B shares, and 47.91% of voting power.