Tag Archives: Deep Kalra

MakeMyTrip expects 70% of its revenue from hotels, accommodations by 2022

MakeMyTrip said it is looking at the hotels and accommodations segment to contribute around 70 per cent to its overall revenue by the end of 2022. Currently, hotels and accommodations account for around 54 per cent of the company’s total revenue. “By the end of 2022, 70 per cent of our revenue will come from the hotels and accommodations segment,” Deep Kalra, Founder and Group CEO, MakeMyTrip. Currently, around 33 per cent of revenue comes from air travel and the rest is roughly from redBus, travel insurance and experiences, he added. “Going forward, the hotels and accommodations will contribute a bigger share of revenue, as there is still a lot of headroom in hotels. Still, only around 15 per cent of hotels are booked online, so there is a big market to be tapped,” Kalra said. On the trend of more Indians opting for overseas travel, he said, “The focus area for us and where Indians are going right now is overseas. Middle class has the money and is travelling overseas as it is aspirational.” The growth in international travel will be higher and it will grow faster than the domestic segment, he added. The company has recently posted its third-quarter results with a growth of over 30 per cent. When asked about the growth road map, Kalra said, “We are looking to moving on to twin path of growth and at the same time of reduction of losses.” He, however, did not provide any future guidance on growth numbers. Source: PTI

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Key travel players discuss ideas and trends at Travolution Asian Summit in Delhi

The inaugural Travolution Asian Summit, held on January 15 in Delhi, brought together all stalwarts and key stakeholders of the travel and tourism industry for sharing knowledge and powering partnerships. Welcoming delegates at the event, Lee Hayhurst, Editor, Travolution said, “We are happy to be here and are hoping to make this a regular event. We started 13 years ago with an idea to bring the travel and technology industry together to discuss ideas, trends and observations in the industry. I think the world of technology is bringing us closer. At this event, we’ve got keynotes, interviews and sessions for the attendees,” he said. The keynote speaker was Deep Kalra, Chairman & Group CEO, MakeMyTrip, who gave an overview on ‘Indian Market Growth and Opportunity’.

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We are not ‘dictating’: FHRAI reacts to Deep Kalra’s statement

After MakeMyTrip (MMT) group’s chief executive Deep Kalra’s recent comment that the Federation of Hotel and Restaurant Association of India (FHRAI) has no locus standi to determine commercial agreements between MMT and the establishments on its platform, Gurbaxish Singh Kohli, VP, FHRAI, says, “Goibibo and MMT have been exploitive, unethical and adapted divisive business practices, leading to predatory pricing, market distortions and cannibalisation. I fail to see how our letter clearly worded as requesting to “resolve” the situation would be misconstrued as trying to “dictate” terms. India has approximately 100,000 establishments which provide accommodation. Approximately, 65,000 are structured licensed establishments, out of which around 45,000 hotels are stand-alone hotels. “FHRAI has never got involved all these years in any negotiations with standalone vendors but takes a strong stand when the industry faces any outside coercion or intimidation. It is only when 1000’s of hoteliers realised Goibibo and MMT’s arrogant method of pressurising the small hotels in high commissions, more free rooms, started price control on the owners. FHRAI has, in its fiduciary duty stepped in to amicably resolve matters. Please note FHRAI is not here to negotiate as wrongly being projected. It is here to ensure that agencies like MMT and Goibibo do not take the industry for granted by parenting such market conditions in which it would be difficult to do business for one party but a win-win situation for the other.” He further said, “Going back to December 7, 2018, whilst the Ahmedabad Hoteliers blocked GOMMT in the city, Kalra wanted to sit with FHRAI and work out the issues. The team sent to “resolve” arrived but with a fixed agenda of “fixing” only commissions that too by a paltry reduction …

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Flipkart partners with MakeMyTrip

Indian e-tail major Flipkart announced its tie-up with MakeMyTrip for travel bookings. “Through the partnership, users can now make travel bookings through MakeMyTrip’s services using Flipkart’s mobile application,” an official from MakeMyTrip said. The partnership will be rolled out with domestic flight bookings in the next few weeks, followed by hotels, bus and holiday bookings. The companies, however, did not specify the exact time frame for the rollout. “The partnership will help us reach out to an even wider consumer base through MakeMyTrip’s multiple travel booking sites — MakeMyTrip, Goibibo and redBus — and open up the online travel market significantly,” said Deep Kalra, Founder and Group Chief Executive Officer, MakeMyTrip. The tie-up also helps in furthering Flipkart’s goal of being a “one-stop destination” for all digital transactions, added Kalyan Krishnamurthy, CEO, Flipkart. The companies did not disclose the financial details of the partnership. Founded in 2007, Bengaluru-based e-commerce platform Flipkart claims to have a customer base of over 100 million in the country.

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Travelport and MakeMyTrip join hands

MakeMyTrip and InterGlobe Technology Quotient, the official distributor of Travelport in India have forged a strategic alliance that will allow the OTA access into Travelport’s Travel Commerce Platform. Under the agreement, MakeMyTrip can expand the use of Travelport’s technology from the Ibibo Group to their other primary distribution channels starting in the second half of calendar year 2017. Gordon Wilson, Travelport’s President and CEO, commented, “India is a market with enormous growth potential where Travelport, working with our distributor ITQ, has grown in air booking terms by 14 per cent in the first half of 2017 when the GDS air market has grown by 11 per cent. Securing a partnership with the leading online travel agency in the market, with a high growth profile and tremendous track record, gives even further impetus to our plans in the country.” Deep Kalra, Founder, Chairman and Group CEO, MakeMyTrip, added, “This is an exciting time for MakeMyTrip and we are delighted to partner with Travelport and ITQ as part of our growth strategy in the service of the travelling Indian consumer.” Travelport currently boasts a portfolio of approximately 400 airlines, including the merchandised content of over half of these carriers such as fares families and ancillary products (paid seat assignments, baggage fees, priority boarding, etc). MakeMyTrip, along with its other entities Goibibo and redBus receives over 33 million visits via its desktop and mobile-web platforms and serves over 40 million mobile app active users each month.

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MakeMyTrip gets $180 million funding from China’s Ctrip.com

Travel website Ctrip.com has invested $180 million (about Rs. 1,200 crore) in MakeMyTrip. The deal was done in the form of convertible bonds, Ctrip.com said in a statement today. “With the investment, we will have a place in the rising online travel market in India,” said Liang Jianzhang, CEO, Ctrip.com. The partnership will benefit both companies, as there are many similarities between China and India’s online tourism, state-run Xinhua quoted Deep Kalra, CEO, MakeMyTrip. Founded in 2000, MakeMyTrip is the biggest online travel agent in India. Tourism grew by 10 per cent in the country last year, according to research company PhocusWright. Online sales rose 16 per cent last year. Ctrip.com said the move will make it easier for Chinese tourists to visit India. Over 100 million Chinese tourists visited abroad last year spending billions of dollars. The increasing numbers of Chinese tourists abroad made India and number of countries to woo them with easy visa access. India has extended the e-visa scheme to the Chinese tourists.

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