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<keyword id="5383302" type="General" weightage="20" keywordseo="makemytrip-founder" source="Orion">MakeMyTrip Founder</keyword> and Chairman <keyword id="6467279" type="General" weightage="20" keywordseo="deep-kalra" source="Orion">Deep Kalra</keyword> is moving to a chief mentor's role, 21 years after founding the startup. Kalra has been the Group Executive Chairman of <keyword id="54613" type="General" weightage="20" keywordseo="makemytrip" source="Orion">MakeMyTrip</keyword> since February 11, 2020. According to an SEC filing, the company said: "In his new role as Group Chairman and Chief Mentor effective April 1, 2022, which was approved by the board of directors of MakeMyTrip, Deep Kalra will devote his time in providing mentorship to MakeMyTrip's leadership team, as well as continuing to pursue strategic initiatives such as product innovation and expansion." <keyword id="368700" type="General" weightage="20" keywordseo="rajesh-magow" source="Orion">Rajesh Magow</keyword> as Group Chief Executive Officer will continue to focus on driving the next phase of growth for MakeMyTrip. Under Kalra, MakeMyTrip made a successful listing on Nasdaq in 2010. Kalra is also a founding member of Ashoka University. SEE ALSO <a href="https://www.businessinsider.in/business/auto/news/electric-bus-maker-olectra-greentech-have-surged-540-in-the-last-12-months/articleshow/88685068.cms" style="">Shares of this electric bus maker have surged 540% in the last 12 months</a> <a href="https://www.businessinsider.in/business/auto/news/bmws-colour-changing-paint-feature-may-have-more-uses-than-just-curing-boredom-and-indecisiveness/articleshow/88727490.cms" style="">BMW’s colour-changing paint technology might have more uses than just curing boredom and indecisiveness</a> <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-acquires-uk-battery-tech-company-faradion/articleshow/88606195.cms">Mukesh Ambani’s clean energy vision gets a New Year boost with the acquisition of this UK battery tech company</a>

MakeMyTrip's founder Deep Kalra moves into a chief mentor role

<keyword id="54613" type="PERSON" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> ‘MyBusiness’ is a new facility that MakeMyTrip has launched to tap into the growing corporate travel segment in India. This new solution, is supposed to provide a ‘convenient, transparent and efficient self-booking tool that employees can use’ from the same MakeMyTrip app for their business travel. The facility will not only make businesses of any size avail best corporate travel deals but will also bring down friction in the expense process.

 

 

 

 

 

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 Ranjeet Oak, Chief Business Officer, MakeMyTrip told Business Insider, “For most organizations, business travel spending is the second largest expense, and the entire process allows a certain amount of discrepancies and reimbursement issues later on. SMEs are contributing to 70% of the flourishing Indian corporate travel business and we wish to enable these businesses by helping them get an online travel desk instead of setting up a separate one for their firm.” According to <keyword id="1793400" type="ORGANIZATION" weightage="20" keywordseo="global-business-travel-association">Global Business Travel Association</keyword>, with an annual growth of more than 11%, India is the fastest growing business travel market in the world. Driven by factors like growing expansion of organizations, rising income levels, policy and regulatory support by the government authorities and more business travel has emerged as one of India’s fastest growing travel sectors. Currently, companies like <keyword id="354768" type="ORGANIZATION" weightage="20" keywordseo="expedia">Expedia</keyword> and <keyword id="91294" type="ORGANIZATION" weightage="20" keywordseo="american-express">American Express</keyword> are targeting this segment but the process isn't as easy as MMT as more levels of authority is needed to access these services. <div type="embedgroup"> <div type="Article" hostid="261" msid="60752113" title="Food influences holiday choices for 87% of Indian Travelers according to Airbnb" rank="1.0" kind="RELATED" publishDate="Sep 19, 2017, 6:48 PM" mstype="2" mssubtype="0"></div></div>












 Companies like Ola and Uber have enabled taxi rides for corporate travel for many companies but for many employees who travel constantly for work, reimbursement, bill-filing and even approvals remains an inconvenience. I tried out the app and website and noticed that the self-booking online tool makes it easy to move complex offline processes - approval metrics, travel policies, payment options – online; making travel booking efficient and experience seamless. 

 

 

 

 

 

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Making GST claims easier Another great feature is that if a corporate books a hotel with MakeMyTrip, then MMT will pass the GST details of the company during the booking to the hotelier. When the hotel creates the bill, GST details of the company would be incorporated on the invoice which would ensure that the tax charged on the invoice will be uploaded by them against the company’s GST account. Also, against the convenience fee charged by MMT, the company will be able to claim GST benefits as well. This way, companies stand to claim <keyword id="4240165" type="ORGANIZATION" weightage="20" keywordseo="gst-credit">GST Credit</keyword> and save upto 18% of total travel transaction in a clear and transparent way, making this offering a win-win for all.

I tried the MakeMyTrip ‘My Business’ facility which makes GST claim easier for SMEs

New Delhi, Feb 11 () Leading online travel firm MakeMyTrip on Tuesday reported a narrowing of its adjusted operating loss to USD 11 million (over Rs 78 crore) for the quarter to December 2019 and also announced elevation of Rajesh Magow as the Group CEO. The company had posted an adjusted operating loss of USD 22.2 million (over Rs 158 crore) for the corresponding period of the previous fiscal, MakeMyTrip said in a statement. The adjusted revenue for the quarter under consideration reached a new quarterly high of USD 206.7 million (over Rs 1,470 crore). It was USD 179.9 million (over Rs 1,280 crore) for the same period year ago. MakeMyTrip also announced the elevation of Rajesh Magow as the Group CEO of MakeMyTrip as founder Deep Kalra takes up the role of Executive Chairman. "We believe that separating the roles of Group CEO and Executive Chairman will allow us to focus more on long-term strategic opportunities within and outside India, while maintaining our market leading position in our existing businesses," MakeMyTrip founder Deep Kalra said during the earnings call. The board and "I have utmost confidence in Rajesh's capabilities in his elevated role to drive the next phase of growth for the Group through its three strong brands, MakeMyTrip, Goibibo and Redbus. In this role, he will continue to work closely with me", he added. The transition will also help Kalra devote full time and focus to strategic initiatives for MakeMyTrip which would include product innovation and expansion, geographic growth, business model innovation and corporate development, MakeMyTrip said. MakeMyTrip Group achieved record quarterly gross bookings of over 1.7 billion dollars, the company said. The company achieved a new record of nearly 8.3 million room nights in our standalone online hotels business during the third quarter this fiscal, it added. This represents a year on year growth of over 21 per cent and a reacceleration in volume growth from the previous two quarters, it added. "We evaluate our financial performance based on adjusted revenue, which represents IFRS revenue after adding back promotion expenses in the nature of customer discounts, customer inducement/acquisition costs and loyalty programs cost which are reported as a reduction of revenue, and deducting the cost of acquisition of services primarily relating to sales to customers where the company acts as the principal, as we believe that adjusted revenue reflects the value addition of the travel services that we provides to our customers," MakeMyTrip said. AKT MKJ

MakeMyTrip's Q3 loss narrows to USD 11 mn; Rajesh Magow elevated as Group CEO

Global travel service provider <keyword id="54613" type="General" weightage="20" keywordseo="MakeMyTrip" source="Orion">MakeMyTrip</keyword> is experimenting with artificial intelligence (AI) chatbot ChatGPT to see if its integration can make customer experiences and their vacation planning better on the platform, the company has said. Sanjay Mohan, Group CTO at MakeMyTrip (MMT), told IANS that the ChatGPT integration is at a very early stage and the company will decide to use it only if satisfied with results. "Our teams are currently testing ChatGPT for helping customers solve their travel queries and suggest add-on services as they plan holidays. We are working on to see if the new tool can aid our existing AI-powered chatbots," Mohan said. With the use of its in-house AI-powered chatbots, customers on MMT already get suggestions and alerts of rail/flight bookings, baggage details, and car/bus/hotel bookings. According to Mohan, ChatGPT can revolutionise the hospitality sector that has finally come out from the shadow of the three-year long pandemic. "Our goal is to make MMT platform more seamless, while keeping it simple and user-friendly with smooth navigation. ChatGPT can surely help," he added. "We want to make MakeMyTrip a one-stop-shop for all the services that a traveller may need," Mohan told IANS. The online travel aggregator recently reported a growth of 64.4 per cent on gross bookings (year-on-year) that reached $1.75 billion -- its highest-ever -- for the company's fiscal third quarter that ended on December 31. The company earned adjusted operating profit of $19.7 million in Q3 FY23, as compared to $13.2 million in Q3 FY22, over the revenue of $170.5 million (versus $115 million in 3Q22). Profit for the period was $0.2 million as compared to a loss of $9 million during the same quarter last year. Demand for leisure travel and tourism improved on the back of peak seasonality, according to the company. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/how-to-compare-your-tax-liability-in-old-and-new-tax-regimes/articleshow/98116217.cms">How to compare your tax liability in old and new tax regimes</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-11r-pre-orders-to-begin-today-free-buds-z2-card-discounts-specs-and-more/articleshow/98112032.cms">OnePlus 11R pre-orders to begin today – free Buds Z2, card discounts, specs and more</a> <a href="https://www.businessinsider.in/finance/news/how-to-use-credit-card-to-make-upi-payments/articleshow/98090488.cms">How to use credit card to make UPI payments</a>

MakeMyTrip experimenting with ChatGPT to boost customer experiences

<ul><li><keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> share price jumped by 6.75% on Monday as the news of Moderna’s vaccine being 94.5% effective hit the market. </li><li>After Pfizer’s vaccine’s report of being over 90% effective, Moderna’s became the second positive vaccine news from the US within a month. </li><li>Major travel (airline and hotel) stocks in the US witnessed a strong rally as the vaccine revived hopes of recovery in the travel segment soon.</li></ul>NASDAQ-listed Indian travel giant MakeMyTrip saw its share price jump by 6.75% on Monday as the news of Moderna’s vaccine being 94.5% effective hit the market. <div type="image" title="Mmt." msid="79255510" hostid="261"></div> Vaccine news uplifts spirits After Pfizer’s vaccine’s report of being over 90% effective, Moderna’s became the second positive vaccine news from the US within a month. <a href="https://www.businessinsider.in/science/space/news/within-days-of-pfizer-results-russia-claims-sputnik-v-vaccine-demonstrates-92-efficacy/articleshow/79171485.cms">Russia’s Sputnik V too</a> has claimed that it has a 92% efficiency against the virus. Meanwhile India’s COVID vaccine contender Bharat Biotech also announced on Monday that Covaxin had entered phase III of the trial. All the positive vaccine news saw the US' major travel (airline and hotel) <a href="https://www.businessinsider.in/stock-market/news/travel-stocks-rally-after-modernas-vaccine-progress-lifts-hopes-for-near-term-reopening/articleshow/79248718.cms">stocks rally</a> as people saw it as a sign that travel will recover soon. The <a href="https://www.livemint.com/market/stock-market-news/dow-jumps-350-pts-as-moderna-says-covid-vaccine-94-5-effective-11605538218252.html">Dow</a> too touched record highs after the news about Moderna’s vaccine. Back home, India’s <a href="https://www.businessinsider.in/india/news/air-travel-back-at-pre-covid-level-by-early-january-says-civil-aviation-minister-puri/articleshow/79254692.cms">aviation minister is hopeful</a> that air travel will hit pre-COVID levels in India by early January. "We opened civil aviation on 25th May, a good two months and two days after we had completely locked down, with 30,000 passengers a day. Two or three days ago, just before Diwali, we carried 225,000 people," said Civil Aviation Minister Hardeep Singh Puri. MakeMyTrip is hopeful of faster <keyword id="9459835" type="UNKNOWN" weightage="20" keywordseo="travel-recovery">travel recovery</keyword> MakeMyTrip which posted its second quarter results on October 27 is also hopeful that a vaccine would bring travel back to normalcy. “While we are already seeing green-shoots of demand across different travel services, we believe business recovery would significantly accelerate once a vaccine becomes widely available,” the company’s founder and Chairman Deep Kalra had said during the call. With the travel opening up within India, MakeMyTrip has seen a gradual recovery. The company’s adjusted operating loss for the quarter stood at $12.9 million, which was significantly lower than the previous quarter's loss of $21.3 million. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adjusted Gross Margin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Y-O-Y Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Air Ticketing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$11.9 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- 81.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotels and packages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.5 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">93.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bus ticketing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.5 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-85% </td></tr></tbody></table> While there has been a quarter-on-quarter recovery, MakeMyTrip still has a long way to go for recovery. SEE ALSO: <a href="https://www.businessinsider.in/india/news/indias-first-vaccine-candidate-covaxins-phase-3-trials-begin/articleshow/79249854.cms">India's first vaccine candidate - Bharat Biotech's Covaxin begins its Phase-3 trials</a>

MakeMyTrip shares soar as COVID vaccine progress from Moderna and Pfizer spark optimism of faster travel recovery

New Delhi, Mar 31 () Online travel firm MakeMyTrip on Tuesday said it has launched 'Stays for Saviours' initiative to support temporary accommodation needs of the medical frontline force fighting COVID-19 at special rates. "This initiative has been rolled out in partnership with hotel chains and independent hotels that are pitching in to support our healthcare heroes across 26 states and 4 Union Territories", MakeMyTrip said in a statement. It will enable medical practitioners to discover and book from over 900 hotel properties across 200 cities in India on the MakeMyTrip app, it added. Many prominent hotel chains like The Park Hotels, IHG, Ginger Hotels, TreeHouse, Lemon Tree Hotels, Oyo Hotels, Keys Group, Sarovar Hotels, Royal Orchid, Citrus Group, Intellistay, Justa, Golden Tulip Hotels Chain, Lyvue group and hundreds of independent hotels have opened their doors at special rates for India's healthcare workers, MakeMyTrip said. On the initiative, MakeMyTrip Executive Chairman Deep Kalra said: "We are grateful for the courage shown by healthcare workers and we want to assist them by providing comfortable and subsidised accommodation options to these heroic first responders". The global outbreak of COVID-19 is making people live through extraordinary times and the exceptional service of frontline workers who are fighting this on behalf of humanity needs everyone's support and encouragement, he added. "Our initiative Stays for Saviours is made possible with the support of our valued partner hotels who share our sense of gratitude towards the medical fraternity that is standing tall to serve humanity during one if its toughest hours," MakeMyTrip Group CEO Rajesh Magow said. AKT SHW ANSANS

MakeMyTrip launches 'Stays for Saviours' initiative to support healthcare providers

New Delhi, Mar 17 () Online travel firm MakeMyTrip on Tuesday said its priority is to make it as easy and safe as possible for its customers to manage changes to their travel plans on account of the coronavirus outbreak. "We want to reach out to you personally in these uncertain times, as the situation around coronavirus outbreak continues to evolve," MakeMyTrip Founder &amp; Group Executive Chairman Deep Kalra and MakeMyTip Co-Founder &amp; Group CEO Rajesh Magow said in an e-mailed message to customers. The company is taking all possible measures to help serve its customers during these unprecedented circumstances, it added."We are closely working with all our airline and hotel partners on lenient customer policies for date change, cancellations and waivers in the face of evolving travel trends and are seamlessly passing the waiver benefits to our customers, as applicable," the mail said. The company's support teams are working 24x7 and are constantly monitoring updates from the government and public health authorities to be able to serve customers in the best way possible, it added. MakeMyTrip is not levying any fee for processing cancellation or rescheduling requests for domestic as well as international flights up to April 30. The company understands this is a difficult time for travellers and it wants to support them during this period of uncertainty, MakeMyTrip Chief Business Officer Saujanya Shrivastava said. AKT AKT ANUANU

Priority is to make it easy & safe for customers to change travel plans: MakeMyTrip

New Delhi, Nov 17 () Online travel firm MakeMyTrip is looking to add over 10,000 alternative accommodation properties in India in 2020, with the company expecting to achieve double-digit growth in the segment during the period.
 Currently, the company has 1,70,000 bookable properties in India and overseas in the alternative accommodation segment which includes villas, apartments, homestays, guesthouses and hostels, among others.
 "As travel growth continues to beat market estimates, we aim to add more than 10,000 alternative accommodation properties in India in the coming year. Additionally, we are bullish on achieving double-digit growth in the segment in the next 12 months," MakeMyTrip COO Vipul Prakash told .
 With a great market opportunity on one side and over 44 million customers on the platform on the other, MakeMyTrip is confident of encouraging a shift in driving consideration for the segment amongst leisure and corporate consumers travelling in India who are looking for more choices, he added.
 "At a time when customers, especially millennials, prefer experiential travel choices, alternative accommodations are offering quality yet economical, offbeat options and it is only set to grow more popular within Indian travellers," Prakash said.
 As a platform, MakeMyTrip's endeavour is to empower its customer with more and more choices so that they always find the best fit on their one-stop travel shop, he added.
 Currently, the company offers alternative accommodations across destinations including Goa, Coorg, Wayanad, Lonavala, Shimla, Darjeeling, Ooty, Alleppey and the metros.
 Overseas, the company offers such booking options in Dubai, Singapore, Bali, Kuala Lumpur, London, Paris, Berlin, Amsterdam, Melbourne, Sydney, Las Vegas, New York, Ho-Chi-Minh City and Hanoi, among others, it added.
 Out of 1,70,000 properties overall in the segment, the company has around 25,000 bookable properties in India.
 As per a recent survey conducted by MakeMyTrip, about 48 per cent of Indian travellers are most likely to book an alternative accommodation for their next trip. AKT ABM

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MakeMyTrip's founder Deep Kalra moves into a chief mentor role

IANS

I tried the MakeMyTrip ‘My Business’ facility which makes GST claim easier for SMEs

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MakeMyTrip's Q3 loss narrows to USD 11 mn; Rajesh Magow elevated as Group CEO

PTI

MakeMyTrip experimenting with ChatGPT to boost customer experiences

IANS

MakeMyTrip shares soar as COVID vaccine progress from Moderna and Pfizer spark optimism of faster travel recovery

Sanchita Dash

MakeMyTrip launches 'Stays for Saviours' initiative to support healthcare providers

PTI

Priority is to make it easy & safe for customers to change travel plans: MakeMyTrip

PTI

MakeMyTrip looks to add over 10,000 alternative accommodations in India in 2020

PTI

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