LinkedIn X Facebook Email Gift Decision Intelligence Photo Credit: MakeMyTrip Group CEO Rajesh Magow at Skift India Summit. Skift
The fight in Indian online travel is moving away from flights and hotels toward the supply nobody has fully digitized yet.
MakeMyTrip is using a weaker domestic air travel environment to push deeper into hotels, buses and cabs -- the parts of India’s travel market where it believes the bigger long-term opportunity lies.
The company, India's largest online travel agency, reported gross bookings of $2.7 billion for the September quarter, its fiscal second quarter, up 21% year over year on a constant-currency basis, while adjusted operating profit reached $46.2 million.
Non-air businesses made up 63.2% of the gross bookings mix, up from 61.5% a year earlier.
Similar to the first quarter, air travel was the soft spot in the second quarter. Domestic air departures in India fell 7% and international departures dropped 4%, while fares rose roughly 25%-30%. MakeMyTrip said it held more than 30% of domestic air-ticketing share.
Hotels and packages now make up about 40% of the business. Stand-alone hotel room nights grew 18.6%, with domestic room nights up more than 20%.
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Tags: artificial intelligence , business travel , earnings , india , makemytrip , online travel newsletter