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<ul><li>Most Indian couples book their honeymoon packages within 30 days of departure.</li><li>Beaches are a preferred destination for the post-marriage trips of Indian newlyweds.</li><li>Couples are ready to spend more on comfort and luxury than ever before.</li></ul>In India, weddings are more than just events—they are grand festivals that <a href="https://www.businessinsider.in/business/news/indian-weddings-expected-to-generate-6-lakh-crore-in-two-months-cait-says/articleshow/114934657.cms">fuel business opportunities</a> across multiple industries. With the wedding season approaching, many soon-to-be-married couples have already planned their first post-wedding trip, while others are in the midst of booking their honeymoon getaways. Newlyweds aren’t just looking for a vacation; they’re seeking unique and meaningful experiences that will leave lasting memories. Additionally, they also want to spend some time getting to know each other better. This is even better in case of an arranged marriage setup. From unwinding on exotic beaches to discovering peaceful hill stations, the honeymoon preferences of Indian couples are as diverse as the regions they call home. To gain insights into Indian couples’ honeymoon preferences and planning styles, <keyword id="54613" type="General" weightage="20" keywordseo="MakeMyTrip" source="Orion">MakeMyTrip</keyword> has analysed its booking data, releasing a report titled ‘How India Travels for Honeymoon’. The report highlights the travel trends and behaviours of couples embarking on this special journey. <h2>Beaches are a favourite for Indian couples</h2>Be it for domestic or international destinations, beaches have consistently been the top choice for newlyweds planning their first post-wedding trip, as per the report. This year’s data reflects the same trend. Internationally, <keyword id="11905404" type="General" weightage="20" keywordseo="Thailand" source="Orion">Thailand</keyword> has emerged as the leading honeymoon destination for Indian couples in 2023-24, topping honeymoon package bookings on MakeMyTrip. With a notable 5.2% year-on-year (YoY) increase, Thailand has surpassed the Maldives, last year’s favourite, which saw a 16.2% YoY decline in bookings. Meanwhile, the other top international destinations—Indonesia, Mauritius, and Vietnam—also experienced growth in their booking shares this year. Domestically, the Andamans have overtaken Kerala as the most popular honeymoon destination, with a 6.9% year-on-year increase in honeymoon package bookings. Kashmir also rose in popularity, gaining 3.6% in bookings and moving into third place. Bookings for Goa remained steady compared to last year, while Himachal Pradesh experienced a 4% decline. Other regions, including the Northeast, Uttarakhand, and Maharashtra, also attracted Indian couples looking for memorable honeymoon experiences within the country. <h2>Couples going far</h2>Indian honeymooners are exploring far places increasingly drawn to new and diverse destinations. While international spots like Bhutan, Azerbaijan, Malaysia, Sri Lanka, and Seychelles have seen significant year-on-year growth in honeymoon package bookings, this trend extends beyond just short-haul destinations. Because of Easy Visa, Japan has seen the highest YoY growth of 388% in honeymoon package booking. Other long-haul destinations that have seen maximum growth for honeymoon package bookings include Scandinavia, the United States, South Africa, and Australia and New Zealand. <h2>Honeymooners from Metro cities going all out to create Insta-worthy memories</h2>Metro cities like Delhi, Mumbai, and Bangalore are driving the demand for premium honeymoon packages, contributing to more than two-thirds of all honeymoon package bookings. However, cities such as Hyderabad, Kolkata, Chennai, Ahmedabad, and Pune are also seeing a notable shift from budget to premium travel. Couples are ready to spend more on luxury and pampering during their honeymoon. The average spending per couple has gone up by 13% compared to last year. In fact, 68% of newlyweds booked 4-star or 5-star hotels for their stay. One in every five honeymoon bookings was for a 5-star property in 2023-24, showing a 10% increase from the previous year. Newlyweds are not only spending more on comfort and luxury but are also increasingly choosing to visit multiple destinations during their honeymoon. Domestically, the number of couples visiting four or more cities increased from 35% in 2022-23 to 39% in 2023-24. Internationally, while more than half of honeymooners still prefer visiting just one city, the percentage of couples choosing to explore two or more cities grew from 32% to 47%. <h2>Personalised experiences demand all-time high</h2>Couples are seeking more personalised and romantic experiences than ever before. Honeymoon package bookings have grown by 25% compared to last year, showing that many couples want a fully planned, curated experience. Over 95% of honeymoon bookings this year included special activities. As a result, MMT saw a 56% increase in bookings for premium romantic activities like couples' photoshoots, romantic dinners, cruises (sunset, dinner, or catamaran), spa sessions, and floating breakfasts. <h2>Couples booking packages last minute</h2>The report also adds that Indian couples are booking their honeymoons closer to their travel dates. For domestic packages, 56% were booked within 30 days of departure, and 38% were booked the same way for international packages. This matches the overall trend of Indian travellers, who usually book closer to their travel dates. However, 31% of couples travelling internationally booked their honeymoon more than two months in advance, compared to just 18% for domestic trips. To gain more insights, MakeMyTrip also surveyed over 200 people who booked their honeymoon packages through the platform. The survey revealed that 70% of couples went on their honeymoon within 10 days of their wedding, 10% travelled between 10 days to a month later, and 20% waited more than a month to go.

Indian couples prefer Thailand and Andamans for honeymoon, says MakeMyTrip

<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

<ul><li>The net profit of <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword> grew nearly five-fold in the July-September quarter, while <keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> recorded a 300% uptick.</li><li><keyword id="54613" type="General" weightage="20" keywordseo="makemytrip" source="Orion">MakeMyTrip</keyword> cut its loss to a third and its revenue touched $67 million in the last quarter.</li><li>The segment is expected to see a greater push as revenge travel grows and cases of COVID-19 continue to lay low.</li></ul>Indian Railways Catering and Tourism Corporation (IRCTC) as well as online ticketing platforms EaseMyTrip and MakeMyTrip have increased their net profit in the July to September quarter of 2021, which hints towards a strong recovery for the travel and hospitality sector that has been majorly impacted by the COVID-19 pandemic since March 2020. The net profit of IRCTC grew nearly five-fold compared to last year. Its revenue, on the other hand, grew four-fold in the same time frame. The company has further doubled its financial metrics compared to the April-June quarter of 2021 that was clouded by the second wave of COVID-19. <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506492" hostid="261"></div> EaseMyTrip — which is operated by Easy Trip Planners Limited — reported over 330% year-on-year increase in its consolidated net profit. The company’s revenue has grown another 164% year-on-year to ₹59.7 crore in the July-September quarter. <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506502" hostid="261"></div> “We have witnessed strong recovery in demand across our segments and are optimistic of the demand scenario going forward on the back of strong tailwinds in terms of revenge travel and recovery in the travel and tourism industry,” EaseMyTrip noted in its financial statement released on November 3. The company believes that India’s travel segment will witness a ‘U-shaped recovery’, with domestic travel taking a leap over international travel. The company’s share prices catapulted 5% post its financial performance. The shares of EaseMyTrip were trading at ₹531 at 11:35 a.m., on November 3. MakeMyTrip — which is the largest player in the online ticketing space — too reported a much stronger growth in the July to September quarter. The company’s revenue grew 219% year-on-year to $67 million (about ₹500 crore). Its loss was cut nearly by a third to $8 million (about ₹60 crore). <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506518" hostid="261"></div> MakeMyTrip and EaseMyTrip both witnessed a strong demand in air travel, which was a major contributor to its revenue. The company offers booking of air tickets, bus tickets, train tickets, hotels and holiday packages, among other services. IRCTC, on the other hand, provides ticketing, catering and tourism services for Indian Railways. “MakeMyTrip continued to lead and be instrumental in the recovery of travel in India as the country’s new daily reported COVID-19 infections have declined significantly since May 2021, aided by over one billion vaccine doses that have been administered so far. The results of the reported fiscal quarter clearly showcases the durable strength of its multiple brands, driven by its relentless focus on serving its customers with the best possible experience for their travel booking needs,” Deep Kalra, group executive chairperson of MakeMyTrip, said. Other players in the segment are Goibibo (owned by MakeMyTrip), Cleartrip (acquired by Flipkart), publicly traded Yatra, initial public offering (IPO)-bound ixigo and more. SEE ALSO <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-may-soon-allow-you-to-delete-messages-going-back-several-years/articleshow/87500597.cms" data-type="tilCustomLink">WhatsApp may soon allow you to delete messages going back several years</a> <a href="https://www.businessinsider.in/stock-market/news/data-analytics-firm-latent-view-analytics-ipo-to-open-on-november-9/articleshow/87501115.cms" data-type="tilCustomLink">Data analytics firm Latent View Analytics’ IPO to open on November 10</a> <a href="https://www.businessinsider.in/stock-market/news/policybazaar-ipo-today-is-the-last-day-to-subscribe/articleshow/87489212.cms" data-type="tilCustomLink">PolicyBazaar IPO — Today is the last day to subscribe, grey market premium at ₹150</a>

The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India

<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

<ul><li><keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> has announced a new platform that focuses on <keyword id="137739" type="PERSON" weightage="20" keywordseo="travel-agents">travel agents</keyword> called <keyword id="9820953" type="UNKNOWN" weightage="20" keywordseo="myPartner">myPartner</keyword>.</li><li>Through this platform, MakeMyTrip will enable <keyword id="6354692" type="UNKNOWN" weightage="20" keywordseo="Travel">travel</keyword> agents to offer a variety of travel choices and travel booking convenience for their customers.</li><li>Meanwhile, with the hope of a vaccine in the near future, <keyword id="368700" type="PERSON" weightage="20" keywordseo="Rajesh-Magow">Rajesh Magow</keyword>, CEO, <keyword id="255878" type="ORGANIZATION" weightage="20" keywordseo="MMT">MMT</keyword> said that there are many encouraging signs in the business already.</li></ul>India’s largest travel aggregator MakeMyTrip has announced a new platform that focuses on travel agents called myPartner. Through this platform, MakeMyTrip will enable travel agents to offer a variety of travel choices and travel booking convenience for their customers. Currently, the platform is limited to hotels. The premise of the platform builds on the simple notion that India’s travel agents too need to go online with the coronavirus pandemic. The company’s top management said that there have been early shoots in the business since the reopening of the economy but for the sector to grow, everyone – online travel aggregators, travel agents, hotels, and more need to come together. “There are hundreds and thousands of properties in India and abroad, and it is impossible for a travel agent to have a one-on-one equation with each of them. In a world which is digitized, the information is also democratized,” said Vipul Prakash, Chief Operating Officer, MakeMyTrip. The company is currently not charging a subscription fee to the travel agents. However, Prakash shared an overview of the scope of the market, saying that 20% of the overall room nights booked in India today are done by travel agents. Going the omnichannel way Prakash said the country’s thousands of travel agents have a deep understanding of how India travels and how they can make the customer experience better, and the consumer trusts them. OTAs in general, he added, holds the strength that they have built an inventory and relationship with hotels and partners. “myPartner launch brings these two things together. They have the demand but struggle with the supply – this is the right time to collaborate. So all our inventory will now be available for travel agents to book,” he said. With the latest offering, MMT is looking at an omnichannel business approach. MMT’s hope for the industry’s revival based on the pent up demand For the whole of 2020, the travel and tourism industry has come to a halt because of the coronavirus pandemic. And avid travellers have had to take a backseat and control their wanderlust. MakeMyTrip earnings results for the April-June quarter also showed the extent of the impact that this pandemic has had on the travel and tourism industry. MMT’s revenues fell by 95.5% from $141.7 million to $6.3 million. But with the hope of a vaccine in the near future and things settling down, Rajesh Magow, CEO, MMT said that there are many encouraging signs in the business already, and it will only get better. “By the end of this fiscal year, overall the business will touch 65-70% of pre-COVID levels. For the domestic market, 50-70% is the estimate, for international, it will be lower. But the caveat here is that the COVID situation keeps improving. The activity is going to be more and more positive from hereon, and there will be a pent up demand once the vaccine is announced,” said Magow. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/india-startup-founders-are-opting-for-money-in-the-bank-instead-of-high-valuations-as-they-look-to-survive-this-pandemic/articleshow/77733965.cms">India's startup founders are opting for money in the bank instead of high valuations as they look to survive this pandemic</a> <a href="https://www.businessinsider.in/business/telecom/news/without-huawei-and-zte-in-india-airtel-and-vodafone-ideas-battle-against-jio-to-become-tougher/articleshow/77734889.cms">Without Huawei and ZTE in India, Airtel and Vodafone-Idea's battle against Jio to become tougher</a>

MakeMyTrip opens up its hotel inventory to offline travel agents

<ul><li>The company has also managed to cut down its adjusted net losses to $21.3 million, from $29 million in the same quarter the previous year. </li><li>The company’s total liquidity stood at $174 million as of June 2020 – which will give the company a runway for the next 6-8 quarters. </li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider.</a></li></ul>India’s largest <keyword id="977682" type="PERSON" weightage="20" keywordseo="online-travel">online travel</keyword> aggregator <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> earnings results for the April-June quarter show the extent of impact that this pandemic has had on the travel and tourism industry. <keyword id="255878" type="ORGANIZATION" weightage="20" keywordseo="MMT">MMT</keyword>’s revenues have fallen by 95.5% from $141.7 million to $6.3 million. However, the company has also managed to cut down its adjusted net losses to $21.3 million, from $29 million in the same quarter the previous year. But that doesn’t bother the company as much as the weakness of its peers excites it. The management said it is keen on acquisitions, which will help beef up its market share in online travel bookings. <div type="image" title="MMT charts1." msid="77677135" hostid="261"></div> However, it may not come as a surprise for investors as the stock has lost 17% of its value in the last one month. Here’s how the revenue has decreased for the company across segments. MakeMyTrip currently has over 50% market share in all the verticals. <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;">Sectors </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;">Decrease in revenue </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;">91.6% </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;">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;">98.6% </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;">98.2% </td></tr></tbody></table> Acquisitions on the cards The company had $174 million in cash as of June 2020, which will give the company a runway for the next 6-8 quarters, said Mohit Kabra, Chief Financial Officer of MMT. The company has said that even though it has zero debt, it has opened avenues for additional funds to explore any growth opportunities that might come their way. Analysts too expect MMT to explore acquisition opportunities. “We expect the impact of the COVID-19 outbreak will lead to consolidation in the OTA space given stretched peer balance sheets, which could lead to more than 10 percentage points of market share gain for MMYT (in hotels) over the next three years,” said a recent report by Goldman Sachs. The company has also secured credit and guarantee facilities of approximately $100 million. “Which includes a $70 million facility from an affiliate of our largest shareholder and the balance from a commercial bank in India,” said the company’s statement. MMT’s top management remained hopeful of the quarters to come as they said that travel has seen recovery since July. “We have begun to see early signs of recovery in our domestic travels business. Our first quarter performance reflects the bulk of the impact the lockdown had on our business. During the quarter, we took painful but necessary fixed cost reductions and fully flexed our variable costs to ensure we had ample liquidity to re-emerge stronger from the quarter ,” said <keyword id="6467279" type="UNKNOWN" weightage="20" keywordseo="Deep-Kalra">Deep Kalra</keyword>, Group Chairman of MakeMyTrip. The company is also planning to restore salaries of frontline workers and middle management staff by September, as it hopes the momentum of the business will be assured. CORRECTION: The headline has been updated after the company management reached out to Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/business/news/heres-why-makemytrip-oyo-lemon-tree-and-likes-may-reap-the-most-out-of-the-long-term-recovery-in-hotels/articleshow/77670756.cms">Here's why MakeMyTrip, OYO, Lemon Tree and likes may reap the most out of the long-term recovery in hotels</a> <a href="https://www.businessinsider.in/business/startups/news/this-startups-popular-sleep-internship-with-1-one-lakh-stipend-is-back-netflix-show-indian-matchmaking-face-reader-is-the-intern-selector/articleshow/77673059.cms">This startup’s popular ‘sleep internship’ with ₹1 lakh stipend is back – Netflix show Indian Matchmaking’s face reader is the intern selector</a> <a href="https://www.businessinsider.in/tech/apps/news/google-eyes-indias-sharechat-as-microsoft-goes-after-tiktok-in-the-us-heres-why-it-makes-sense/articleshow/77667345.cms">Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense</a>

Debt-free MakeMyTrip sets aside money for investment opportunities — while its own revenue is down 95%

<ul><li>India’s hotel industry is headed for a slow recovery from the coronavirus pandemic, it is also poised to be a major contributor to <keyword id="977682" type="PERSON" weightage="20" keywordseo="online-travel">online travel</keyword>’s doubling growth over the next five years. </li><li>A Goldman Sachs report pegs hotels to be the fastest growing segment within the sector with a CAGR (compounded annual growth rate) of 20%.</li><li>Even with the hopeful outlook, hoteliers will have to be patient as the recovery is expected to be slow in the near-term.</li></ul>The battered Indian hospitality industry can make room for growth over the next five years, if they survive the low phase during the pandemic and the key to survival is a robust digital strategy. India’s millions of hotel rooms will have to opt for a digital transformation. Even though the situation looks bleak, Goldman Sachs believes that ‘all hope is not lost’ for hotels in the online space. The report dated July 2020 says that the online travel industry in India is expected to double in the next five years. <div type="image" title="travel." msid="77670730" hostid="261"></div> And hotels will be the fastest-growing segment within the sector with a CAGR (compounded annual growth rate) of 20%. “We estimate hotels alone will contribute c.47% of the online travel revenue pool in India by FY25 (36% in FY20), making it the key battleground within the space,” said the report. Adapting technology and joining branded hotel chains will be key to survival India’s current online penetration is one of the lowest in the world at just 22%, according to the report. Out of the 2 million rooms accounted for hotel rooms in India, only over 140,000 are affiliated with hotel chains. Long-term growth will be driven by budget hotels falling under the unorganized category, who are deeper in the Indian market and can be brought online, believe analysts at Goldman Sachs. “These last few months have proved that branded hotels are and will continue to be the safest environment even in the worst pandemic. Along with safety, hotel brands that figure out how to offer meaningful experiences will lead the way,” said Ankur Gupta, Managing Partner &amp; Head of India Real Estate, Brookfield Asset Management in a report by JLL. All hope is not lost While hotel chains like <keyword id="74790" type="PERSON" weightage="20" keywordseo="Lemon-Tree">Lemon Tree</keyword>, Indian Hotels Company, which is a subsidiary of Tata Group, EIH which runs Oberoi and Trident, and hospitality unicorn <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> are all set to benefit from it, the biggest beneficiary could be <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> which currently accounts for 50% of the online hotel aggregator market. For the first three months of the year, MakeMyTrip had reported a 15.9% fall in adjusted revenue to $137.2 million. The NASDAQ-listed company also posted an adjusted operating loss of $10.3 million. MakeMyTrip, which is set to announce its earnings results today, had said during the last earnings call that the current quarter might see its losses ballooning to over $20 billion, but over the next few quarters they will bring down the loss to the $10 million range before targeting breakeven. Recovery will be slow The Hotels Association of India recently requested the <a href="http://bwhotelier.businessworld.in/article/Indian-Hotel-Sector-will-collapse-if-not-supported-by-the-Govt-and-RBI-HAI/28-07-2020-302439/">government</a> to step in to help the sector citing losses to the tune of ₹90,000 crore this year. With hotels being shut for over three months and now opening gradually across the country, the listed hoteliers have all gone to report massive losses for the first quarter of the financial year. Patanjali Keswani, Chairman &amp; Managing Director, Lemon Tree let out a word of caution even said that while he is hopeful for a gradual recovery in the second half of the year, he is still shoring up cash for the next one year, "assuming the worst-case scenario." MakeMyTrip has liquidity of nearly $168 million as of 31st March which will help them survive for two years. But despite the weak beginning to the financial year, the Unlock India phases and the gradual opening of hotels, most recently in <a href="https://www.businessinsider.in/india/news/delhi-allows-re-opening-of-hotels-and-weekly-markets-gyms-to-remain-closed/articleshow/77634741.cms">Delhi</a>, has revived the hopes and the optimism reflects in share price of the listed hoteliers this month. . <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;">Hotel Chain </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;">Stock action in Aug so far </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;">Lemon Tree </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;">+35% </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;">Chalet Hotels </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;">+17.9% </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;">EIH </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;">+35.7% </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;">Indian Hotels Company </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;">24.8% </td></tr></tbody></table> Revenge travel will help the battered industry recover <a href="https://www.businessinsider.in/business/news/revenge-travel-is-the-only-way-indian-hotels-can-make-money-but-it-will-take-over-two-years-to-even-match-pre-covid-levels/articleshow/77586911.cms">Revenge travel </a>will help the hotel industry recover. The term gained popularity in <a href="https://www.scmp.com/business/companies/article/3080361/chinas-airlines-are-poised-bout-revenge-travelling-bookings">China</a>, after people having been stuck in a lockdown, started travelling within the country, to be able to just to get out of their homes. A <a href="https://www.mckinsey.com/industries/travel-logistics-and-transport-infrastructure/our-insights/the-way-back-what-the-world-can-learn-from-chinas-travel-restart-after-covid-19">Mckinsey</a> report says that the end of lockdown would mean the first thing people would want to do is eat out, and the second thing is travel. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-is-staring-at-an-internal-crisis-with-seven-cxo-level-exits-in-eight-months/articleshow/77670080.cms">Ola is staring at an internal crisis with seven CXO level exits in eight months</a> <a href="https://www.businessinsider.in/tech/apps/news/google-eyes-indias-sharechat-as-microsoft-goes-after-tiktok-in-the-us-heres-why-it-makes-sense/articleshow/77667345.cms">Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense</a> <a href="https://www.businessinsider.in/tech/apps/news/tiktok-instagram-and-youtube-data-leak-exposes-data-of-235-million-users/articleshow/77668688.cms">TikTok, Instagram and YouTube data leak exposes data of 235 million users</a>

Here's why MakeMyTrip, OYO, Lemon Tree and likes may reap the most out of the long-term recovery in hotels

<ul><li>The Competition Commission of India is probing into MMT and <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s deal for an adverse effect on competition in the market. </li><li>There is a thin line indeed between businesses which want to share benefits and those who want to control the market. </li><li>With the Indian digital penetration, is it time to bring in a new era of competitive businesses in India?</li></ul><keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> and Oyo’s commercial agreement has brought a new problem at their doors – the Competition Commission of India. The <keyword id="47183" type="ORGANIZATION" weightage="20" keywordseo="CCI">CCI</keyword> is now probing into their deal for a possible adverse effect on the market. The alleged dominance that they would enjoy is now under scanner. And prima facie, MakeMyTrip is identified as ‘dominant’ in the online travel market while OYO holds the same position in the hotels market. And the joint effect of their partnership could alter the way the market operates. “OYO has been prima facie found to be a significant player in the ‘market for franchising services for budget hotels in India’,” said the report. Both Oyo and MMT had begun their partnership in February 2018. In 2019 they renewed their partnership for five years. In an earlier conversation with Business Insider India, Deep Kalra, founder and chairman of MakeMyTrip, had said, “Oyo for us would be more a partner, because they are now on the supply side and the fastest growing hotel chain in the world. Like all other hotel chains, they also go direct, they aren’t selling other services. We have always seen competition in the market otherwise.” If CCI finds discrepancies, it could turn a precedent for several deals forged recently. Reliance Jio acquired music streaming app Saavn, which strengthened the latter’s position in the Indian market against competition like Gaana, Spotify and even the Airtel-backed Wink. As per an exclusive partnership, OnePlus phones come pre-installed with the Amazon app. There is a thin line indeed between businesses which want to share benefits and those who want to control the market. “There is a clear need of legal audit of all such agreements. Such partnerships should always and periodically be evaluated on the touchstone of AAEC. Unless the CCI establishes AAEC, it can’t bring a case against a party under section 3(4) of the Act,” said KK Sharma, Chairman, KK Sharma Law Offices &amp; ex-Director General and Head of Antitrust and Merger Divisions, CCI. We have a vertical relationship with MMT, says Oyo The Federation of Hotel and Restaurant Associations of India lodged a complaint against MMT and its acquired unit GoIbibo and Oyo Hotels and Homes. The complaint was against MMT-Go and Oyo’s alleged dominance in the market, predatory pricing. It also alleges that their commercial agreement has led to the presumable exclusion of other competitors on MMT’s platform. “Whether the commercial agreement between OYO and MMT entails preferential treatment to OYO and consequent exclusion of Treebo, Fab hotel and any other hotel chain and if so, the effect of the same on competition merits investigation,” the CCI order said. Oyo argued that it is not an online aggregator but a hotel chain which is listed on MMT and has a vertical relationship with the latter. “We will continue to cooperate with Hon’ble CCI’s investigation process as we review the complete order. We will actively engage with the Hon’ble Commission in this process,” said an OYO spokesperson.’ The CCI further said that any restrictive agreement which may lead to refusal to deal with some players or exclusive arrangement with some players, may have potential adverse effect on competition. “The problem is not merely because of there being an exclusive partnership. It is because of conduct much beyond this,” said Sharma. He further explained that the Commission has asked DG to examine violation of Section 3(4) of the Act. It means CCI has to establish that such conduct exists and if it does, if it can have an adverse effect on the competition. “Only after the above are established, can it be said that there is a violation of the provisions of the Act; and further only after the above are done, can the onus of proof move to the person against whom allegations are made,” said Sharma.

MakeMyTrip and Oyo are in trouble with the CCI, opening up a gray area for business partnerships in India

According to the recent filing made by Nasdaq-listed firm, <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> will be issuing shares worth around $960 million for the acquisition of rival portal <keyword id="119765" type="COMPANY" weightage="100" keywordseo="Ibibo">ibibo</keyword> Group. 
 Ibibo Group Holding will also be cutting off its 14% stake in <keyword id="6356837" type="COMPANY" weightage="20" keywordseo="Naspers">Naspers</keyword>' payments business PayU and 52% in business-tobusiness (B2B) online travel company <keyword id="3567866" type="COMPANY" weightage="20" keywordseo="Tek-Travels">Tek Travels</keyword> before the transaction ends, with MakeMyTrip entitled to a payout on these assets in five years. 
 
Ibibo group is mostly owned by South African media and internet giant Naspers (nearly 90%), with the remaining held by Chinese internet giant Tencent and management. 
 
These shareholders will be given 38.97 million shares, or a 40% stake, of MakeMyTrip as a part of the all-stock deal with Naspers cornering a third of the combined entity. 
 
The combined entity is expected to be valued over $2.2 billion. MakeMyTrip has already called in a meeting for approval of the transaction from its shareholders. 
 
In the quarters ending June and September 2016, MakeMyTrip continued the pace discounts and marketing expenditure spending a combined $100 million before announcing the deal to acquire ibibo. 
 But MakeMyTrip does not see this spending coming down, as it looks to increase penetration of online hotel booking increasing from 12-15% right now to 35-40% in the next two-three years, CEO <keyword id="368700" type="PERSON" weightage="20" keywordseo="Rajesh-Magow">Rajesh Magow</keyword> told ET in October. 
 
The acquisition will be adding more cash to MakeMyTrip's balance sheet, as ibibo shareholders Naspers and Tencent are expected to "contribute proportionate working capital upon the closing of the transaction., MakeMyTrip had cash of $167.2 million at the end of September.

MakeMyTrip to issue $960m worth shares to acquire Ibibo group

<keyword id="399907" type="General" weightage="20" keywordseo="meta" source="Orion">Meta</keyword>, the parent company of Facebook, has announced new plans for creators to bypass 30 per cent <keyword id="7398810" type="General" weightage="20" keywordseo="app-store-fees" source="Orion">App Store fees</keyword> that Apple charges on transactions, as it prepares to build Metaverse. In a Facebook post, Meta CEO <keyword id="6354630" type="General" weightage="20" keywordseo="mark-zuckerberg" source="Orion">Mark Zuckerberg</keyword> said that as we build for the metaverse, we're focused on unlocking opportunities for creators to make money from their work. "The 30 per cent fees that Apple takes on transactions make it harder to do that, so we're updating our Subscriptions product so now creators can earn more," he posted late on Wednesday. Zuckerberg said that the company is launching a promotional link for creators for their Subscriptions offering.A "When people subscribe using this link, creators will keep all the money they earn (minus taxes). Creators will have more ownership of their audience -- we're giving the ability for them to download the email addresses of all of their new subscribers," he explained. An investigation by The Financial Times has found that Snapchat, Facebook, Twitter, and YouTube lost around $9.85 billion in revenue after Apple introduced App Tracking Transparency (ATT) policy last year. Advertisement technology company Lotame estimated that the four tech platforms lost 12 per cent of revenue in the third and fourth quarters, which roughly translates into $9.85 billion. Zuckerberg said that Meta is also launching a bonus programme that pays creators for each new subscriber they get "as part of our $1 billion creator investment announced this summer". The new iOS App Store policy requires apps to ask permission to track users' data. The policy went into effect in April, barring apps from tracking users if they opt out. Facebook lost the most money "in absolute terms" when compared to other social platforms due to its huge size. "Facebook has the most to lose because the cost of running advertisements on its platform has been increasing for years," the Financial Times report said. Since the introduction of the Apple iOS policy, most users have opted out, leaving advertisers in the dark about how to target them. Zuckerberg has slammed Apple for its App Store policies in the past, saying the iOS privacy changes are negatively affecting its business. "Apple's changes are not only negatively affecting our business, but millions of small businesses, and what is already a difficult time for them and the economy," he said last month. Sheryl Sandberg, Facebook's Chief Operating Officer, said that the biggest impact to them has come from iOS 14 changes which advantaged Apple's own advertising business. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/who-approves-bharat-biotechs-covaxin-for-emergency-use/articleshow/87510108.cms">WHO approves Bharat Biotech’s Covaxin for emergency use after a long wait</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/here-is-why-cleartax-clinched-a-deal-with-the-worlds-most-valued-fintech-company/articleshow/87509691.cms">Here is why Clear(Tax) clinched a deal with the world's most valued fintech company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/the-strong-financial-performance-of-makemytrip-easemytrip-and-irctc-hints-towards-a-larger-travel-recovery-in-india/articleshow/87503220.cms">The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India</a>

Hit by Apple fees, Facebook offers creators new way to earn money

<ul><li>Amazon dominates user trust when it comes to shopping online, whether it’s for electronics or fashion, coming in ahead of Flipkart. </li><li>For online payments PayTM outdoes Google Pay and PhonePe as the <keyword id="413637" type="PERSON" weightage="20" keywordseo="most-trusted-brand">most trusted brand</keyword> in India. </li><li>Uber and Ola have an equivalent share of user trust at 41%. </li></ul>The universe of online services is vast and each category has its own king. You might trust one brand when it comes to shopping for clothes but another when it comes to shopping for electronics. Among five categories — <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-is-taking-on-jeff-bezos-amazon-in-e-commerce-cloud-and-content/articleshow/70645934.cms">e-commerce</a>, online payments, online travel planning, cab hailing and mobile networks that include 76 brands — <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>, Uber, Amazon, MakeMyTrip and PayTM came out as the most trusted brands in their respective categories. The overall trend seems to be that users tend to trust global brands when it comes to online shopping or e-commerce but for travelling and making online payments, Indian brands garner greater trust., according to <a href="https://in.yougov.com/en-hi/news/2019/08/13/jio-makemytrip-and-paytm-are-most-trusted-online-b/" data-type="tilCustomLink" target="_blank">YouGov</a>'s survey. Online shopping <a href="https://www.businessinsider.in/prime-day-sale-how-amazon-india-prepares-for-the-two-day-online-event/articleshow/70222978.cms">Amazon</a> is the most trusted brand for shopping online when it comes to clothes as well as electronics. It’s lead over its competitors is substantial with 45% of respondents choosing Amazon their most trusted brand for online fashion and 50% voting in favour of the Jeff Bezos’ enterprise for buying gadgets. Three quarters of the online electronics shopping market is cornered by Amazon and <a href="https://www.businessinsider.in/amazon-vs-flipkart-house-of-flagships-for-new-smartphones-in-india/articleshow/69408528.cms">Flipkart </a>with smaller players fighting over the other 25%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Most trusted online fashion shopping brands: </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Amazon </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">45% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Flipkart </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">21% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Myntra </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">13% </td></tr></tbody></table> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Most trusted online electronics shopping brands: </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Amazon </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">50% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Flipkart </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">25% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">PayTM </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">4% </td></tr></tbody></table> Online travel booking When it comes to making online bookings for travel, most users — 34% — trust MakeMyTrip with <a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">PayTM</a> coming in second. Surprisingly GoIBIBO is only trusted by 6% of users and other portals like Trivago, <a href="https://www.businessinsider.in/this-is-why-booking-coms-agency-model-has-an-edge-over-other-otas/articleshow/59102504.cms">Booking.com</a> and ClearTrip ranking even lower since they didn’t make it into the top 3. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Most trusted online travel booking brands: </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">MakeMyTrip </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">34% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">PayTM </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">17% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">GoIBIBO </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">6% </td></tr></tbody></table> Online payments <a href="https://www.businessinsider.in/topic/PayTM">PayTM</a> might not be leading when it comes to online travel bookings but it’s the most trusted brand when users are looking to make online payments. This may also be because it has the largest vendor network among its counterparts in the space. <a href="https://www.businessinsider.in/google-pays-new-tactic-to-take-on-rivals-paytm-phonepe-in-india-introduces-digital-gold-offerings/articleshow/68609832.cms">Google Pay</a>, launched just last year, is the second most trusted brand despite its global origins. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Most trusted online payments booking brands: </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">MakeMyTrip </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">42% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">PayTM </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">27% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">GoIBIBO </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">10% </td></tr></tbody></table> Finding a cab and renting a car When it comes to booking a cab online <a href="https://www.businessinsider.in/uber-india-partners-with-sun-mobility-for-electric-three-wheelers/articleshow/70390868.cms">Uber</a>, a global company, and <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola</a>, a homegrown cab service, are tied as the most trusted brands — each garnering 41%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Most trusted online car hailing and renting brands: </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Uber </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">41% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ola </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">41% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">ZoomCar </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">2% </td></tr></tbody></table> Going online Lastly, when it comes to choosing a cellular network, <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-wins-fight-against-vodafone-idea-and-airtel/articleshow/70374283.cms">Reliance Jio</a> is the most trust network operator in India. The youngest of the three main players in the market — Jio, Airtel and Vodafone Idea — also has the <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-beats-airtel-to-be-indias-second-biggest-telecom-network/articleshow/70291841.cms">second largest user base</a> in the country with 322.98 million subscribers. Vodafone Idea might only be trusted by 16% of the respondents but it still leads in terms of users with 387.55 million subscribers. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Most trusted cellular network operators: </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Reliance Jio </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">41% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Airtel </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">34% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Vodafone Idea </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">16% </td></tr></tbody></table> See also: <a href="https://www.businessinsider.in/amazon-google-and-facebook-are-the-most-trusted-internet-brands-in-india/articleshow/69719326.cms">Amazon, Google, and Facebook are the most trusted Internet brands in India</a> <a href="https://www.businessinsider.in/tata-lic-infosys-sbi-and-mahindra-are-among-the-top-10-indian-corporate-brands/articleshow/70257037.cms">Tata, LIC, Infosys, SBI, and Mahindra are among the top 10 Indian corporate brands</a>

Reliance Jio, Amazon, PayTM and MakeMyTrip are the most trusted online brands in India

<ul><li><keyword id="28120" type="CITY" weightage="20" keywordseo="Linkedin">LinkedIn</keyword> has 47 million in India alone.</li><li>People would rather work for <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> than it's international competitor <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>. </li><li>At number 13, <keyword id="354768" type="COMPANY" weightage="20" keywordseo="Expedia">Expedia</keyword> is 5 notches above India's travel giant <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword>. </li></ul>An unusual trend amongst job aspirants in India has been unearthed - they would rather work for homegrown companies like <keyword id="1076906" type="ORGANIZATION" weightage="20" keywordseo="Directi">Directi</keyword> and Flipkart than international giants like Amazon and Alphabet. This is as per <a href="https://www.linkedin.com/pulse/linkedin-top-companies-2018-where-india-wants-work-now-abhigyan-chand/">LinkedIn’s annual list of top companies ‘Where India Wants to Work’</a>. The report is generated based entirely on the actions taken by its users, which is a whopping 546 million professionals worldwide. Of these, over 47 million are in India alone. The list is based on four metrics – job demand, engagement with the company, interest in the company’s employees and employee retention. LinkedIn (and Microsoft, it’s parent company) is not a part of this list. Directi: Top of the charts Directi wasn’t even on the list last year, but has managed to top it this year. It has over 1500 employees worldwide and its portfolio companies include – Radix, Ringo, Flock, Zeta and Codechef. If you get past their interviews, you will get a Kindle as part of the welcome kit, although scoring a job here isn’t easy. Flipkart &gt; Amazon It’s strange but it’s true. People would rather work for Flipkart than it's international competitor Amazon. Flipkart came in at number two whereas Amazon came fourth on the list. Will that affect the great Indian e-commerce battle? Expedia trumps MakeMyTrip Not all Indian companies are preferred over their international counterparts. At number 13, Expedia is 5 notches above India's travel giant MakeMyTrip. Though MakeMyTrip is India’s largest online travel agency with a 75% market share, aspirants would rather work for its international competitor, Expedia, says the report. Perhaps Expedia's scrapping of the performance ratings to focus on providing employees with ongoing feedback has something to do with it. Either way, MakeMyTrip still has a 3.8 rating <a href="https://www.glassdoor.co.in/Overview/Working-at-MakeMyTrip-EI_IE354629.11,21.htm">on Glassdoor</a>, so it’s probably not a bad place to work. <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is at number 16 and Uber is at... well, erm, not even on the list. Ola raised $1.1 billion funding from Tencent and SoftBank that gave it the artillery to combat arch-rival Uber. It also made its move abroad with the launch of its first offshore fleet in Sydney, Australia earlier this month. However, Ola has dropped 11 slots since last year when it was rated 5th in the 2017 version of this report. Speaking of <a href="https://www.linkedin.com/pulse/linkedin-top-companies-2017-where-india-wants-work-now-adith-charlie/">last year</a>, Flipkart was at the top, but has fallen to two; <keyword id="6358977" type="PERSON" weightage="20" keywordseo="Swiggy">Swiggy</keyword>, HCL Technologies, Capgemini, Accenture, Tech Mahindra, Cisco, IDFC Bank, Wipro, Tata Communications, Vodafone, Cognizant, Grofers and Oracle were all in the list last year but not this year; and new entrants include Directi, Anheuser-Busch InBev (the company owns beer brands like Stella Artois, Budweiser and more), EY and Daimler AG.

Indian job seekers prefer homegrown companies to international ones: LinkedIn

Gurgaon based online travel services agency <keyword id="54613" type="COMPANY" weightage="100" keywordseo="makemytrip">MakeMyTrip</keyword> (MMT) has been eyeing a huge move into the online budget hotels market, for which it has held talks with <keyword id="2870818" type="UNKNOWN" weightage="100" keywordseo="FabHotels">FabHotels</keyword> and <keyword id="2913812" type="UNKNOWN" weightage="100" keywordseo="Treebo-Hotels">Treebo Hotels</keyword>. The <a href="http://www.businessinsider.in/markets/heres-the-indian-travel-company-that-just-went-public-on-the-nasdaq/articleshow/56092065.cms">Nasdaq</a>-listed company wanted to pick up a strategic stake in either of the companies. However, its talks with Bengaluru-based <a href="http://www.businessinsider.in/small-business/companies/budget-hotel-brand-treebo-is-a-value-for-money-affair/articleshow/56357162.cms">Treebo</a> didn’t yield any results despite an offer of $10-12 million. Now, MMT might be investing in FabHotels, founded by Vaibhav Aggarwal and Adarsh Manpuria in 2014. The deal could be worth five to ten million dollars, said <a href="http://economictimes.indiatimes.com/small-biz/money/after-talks-with-treebo-fail-makemytrip-may-invest-in-fabhotels/articleshow/58353902.cms">ET</a> sources. Also read: <a href="http://www.businessinsider.in/budget-2017-didnt-promote-muchof-tourism-in-india-heres-why/articleshow/56918518.cms">Budget 2017 didn’t promote much of tourism in India. Here’s why</a> If the deal goes through, MMT will be in direct competition with market leader <a href="http://www.businessinsider.in/small-business/oyo-rooms-valuation-to-touch-850-million-this-will-be-the-size-of-its-funding/articleshow/58337939.cms">Oyo Rooms</a> and Priceline group-backed <a href="http://www.businessinsider.in/small-business/companies/booking-com-is-providing-startups-in-tourism-sector-a-chance-to-go-to-amsterdam/articleshow/57253587.cms">Booking.com</a>. "The deal is likely to have a clause which will see the budget hotel brand only list with MMT-Goibibo combine. This way they get to lock them into exclusivity," said an insider requesting anonymity. Also read: <a href="http://www.businessinsider.in/MakeMyTrip-to-issue-960m-worth-shares-to-acquire-Ibibo-group/articleshow/55807276.cms">MakeMyTrip to issue $960m worth shares to acquire Ibibo group</a> Talking of FabHotels, the Gurgaon-based budget hotel chain of 175+ hotels has <keyword id="144381" type="COMPANY" weightage="100" keywordseo="Accel-Partners">Accel Partners</keyword> and <keyword id="192167" type="CITY" weightage="100" keywordseo="Qualcomm-Ventures">Qualcomm Ventures</keyword> as its investors, and secured around $10 million in last funding round.

You Searched For "makemytrip shares" and got 13 results

Indian couples prefer Thailand and Andamans for honeymoon, says MakeMyTrip

Ayush Mehrotra

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

IANS

The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India

Kritti Bhalla

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

Sanchita Dash

MakeMyTrip opens up its hotel inventory to offline travel agents

Sanchita Dash

Debt-free MakeMyTrip sets aside money for investment opportunities — while its own revenue is down 95%

Sanchita Dash

Here's why MakeMyTrip, OYO, Lemon Tree and likes may reap the most out of the long-term recovery in hotels

Sanchita Dash

MakeMyTrip and Oyo are in trouble with the CCI, opening up a gray area for business partnerships in India

Sanchita Dash

MakeMyTrip to issue $960m worth shares to acquire Ibibo group

BI India Bureau

Hit by Apple fees, Facebook offers creators new way to earn money

IANS

Reliance Jio, Amazon, PayTM and MakeMyTrip are the most trusted online brands in India

Prabhjote Gill

Indian job seekers prefer homegrown companies to international ones: LinkedIn

Kavita Majumdar

Makemytrip to soon enter online budget hotel space with investment in FabHotels

BI India Bureau

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