Rajesh Magow https://dev.traveldailymedia.com/tag/rajesh-magow/ Informing, connecting and developing the world’s travel industry professionals. Fri, 24 Nov 2023 06:28:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 Women entrepreneurship platform and MakeMyTrip partner https://dev.traveldailymedia.com/women-entrepreneurship-platform-and-makemytrip-partner/ Fri, 24 Nov 2023 06:28:32 +0000 https://www.traveldailymedia.com/?p=855483 The post Women entrepreneurship platform and MakeMyTrip partner appeared first on TD (Travel Daily Media) Brand TD.

In an initiative aimed at supporting women's entrepreneurship and self-reliance, the Women Entrepreneurship Platform (WEP) that has been incubated under Niti Aayog, in collaboration with MakeMyTrip, announces the launch of "Project Maitri".

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In an initiative aimed at supporting women’s entrepreneurship and self-reliance, the Women Entrepreneurship Platform (WEP) that has been incubated under Niti Aayog, in collaboration with MakeMyTrip, announces the launch of “Project Maitri”. This unique endeavor focuses on women in the north-east region of the country, by leveraging the untapped potential of homestays as a pathway to entrepreneurship, economic empowerment, and independence.

Launched at the Dorjee Khandu State Convention Center, Itanagar, the event titled ‘Enabling Women-Led Development in Arunachal’ was graced by the Chief Minister of Arunachal Pradesh, Shri Pema Khandu, signifying the state’s commitment to gender-balanced progress.

Project Maitri is a forward-thinking initiative designed to empower and inspire homestay owners across all the north-eastern states in the country. As part of the project, selected participants will receive specialized training tailored to their unique business needs. This training will cover a wide range of skills, including hospitality, safety, digital marketing, and compliance. Additionally, the top three homestay owners will be recognized with awards, further incentivizing excellence and innovation in this sector.

Speaking about the development,  Anna Roy, Mission Director, WEP, said, “The project embodies a strategic approach to bolster women’s entrepreneurship, aligning with national goals of gender equality and economic development. It has the potential to deliver long-term dividends, as homestays in India can evolve into a viable and lucrative business avenue for women seeking financial independence.”

Rajesh Magow, Co-founder and Group CEO, MakeMyTrip said, “We believe in the transformative power of travel, and through this project, we aim to unlock this power for women homestay owners. We are proud to partner with the Women Entrepreneurship Platform in this endeavour and look forward to seeing these incredible women entrepreneurs flourish as they contribute to the vibrancy and diversity of India’s tourism industry.”

WEP, incubated in NITI Aayog, and now transitioned into a public-private partnership is a one-stop solution for information and services relevant to women entrepreneurs, offering a wide range of resources including a SmartMatch based platform for government schemes and private sector initiatives, a knowledge base, a community platform, offering resources such as mentorship and capacity building. Through its collaboration with an industry leader like MakeMyTrip, WEP is spearheading efforts to create an ecosystem conducive to women’s entrepreneurial success.

 

 

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MakeMyTrip makes discovering India easy on the pocket with ‘Incredible India Incredible Prices’ https://dev.traveldailymedia.com/makemytrip-makes-discovering-india-easy-on-the-pocket-with-incredible-india-incredible-prices/ Thu, 29 Jun 2023 05:17:51 +0000 https://www.traveldailymedia.com/?p=831212 The post MakeMyTrip makes discovering India easy on the pocket with ‘Incredible India Incredible Prices’ appeared first on TD (Travel Daily Media) Brand TD.

The pandemic made Indian travellers explore the country like never before, ensuring sustained growth for the sector.

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Very few countries can lay claim to a diverse canvas of breath-taking destinations like India. The pandemic made Indian travellers explore the country like never before, ensuring sustained growth for the sector. As per on-platform data of MakeMyTrip, Indian travellers, especially in the age group of 22-30 years and 36-45 years, demonstrate a strong Carpe Diem bent of mind to travel. These high-intent cohort groups book multiple holidays yearly, using every possible window to discover new places and engage in fresh adventures.

However, when planning the next holiday, the price of flight tickets to the chosen destination can often tip the scales towards postponement over intent. According to on-platform data, leisure segment bookers take almost twice the number of searches to book their flights compared to the business segment. This indicates that flight bookers sift through prices for multiple destinations in various combinations before finally making their final pick of leisure travel reservations. From a research standpoint, this takes time and mental bandwidth before fully firming up a trip.

MakeMyTrip’s new feature ‘Incredible India Incredible Prices’ attempts to solve the issue leisure travel bookers face by offering results based on the most economical airfare to multiple destinations within India from the city they wish to travel to for the next six months. One can filter the most economical flight according to the month of travel and theme-based travel categories such as – Adventure, Heritage, Religious, Romantic, Wildlife, Beach, Hills & Mountains, Honeymoon, etc. The feature also highlights the top things to do in each destination, thereby offering a 360-degree view to the traveller about varied destinations in just a few clicks.

 Rajesh Magow, Co-Founder & Group CEO, MakeMyTrip, added – “The new feature has been developed from a user lens and attempts to fuel interest in the hidden gems of India by offering results based on price, timeline, and the theme of travel. The early results are encouraging as we have observed 2.5 times increases in searches for leisure destinations on the Incredible India funnel as compared to the regular flight funnel.”

The ‘Incredible India Incredible Prices’ feature is also catalyzing a behaviour shift in the advance purchase patterns for flight bookers in the leisure category. Preliminary data shows that more than 60% of consumers exploring destinations in the Incredible India funnel on the platform book tickets at least 30 days in advance as opposed to less than 30% on the regular flight listings funnel thereby benefitting from cheaper fares.

 

 

 

 

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MMT full year gross bookings grow by 122% YoY to $6.6 Billion https://dev.traveldailymedia.com/mmt-full-year-gross-bookings-grow-by-122-yoy-to-6-6-billion/ Wed, 17 May 2023 04:56:15 +0000 https://www.traveldailymedia.com/?p=804186 The post MMT full year gross bookings grow by 122% YoY to $6.6 Billion appeared first on TD (Travel Daily Media) Brand TD.

MakeMyTrip Limited, announced its unaudited financial and operating results for its fiscal fourth quarter and full year ended  March 31, 2023.

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MakeMyTrip Limited, announced its unaudited financial and operating results for its fiscal fourth quarter and full year ended  March 31, 2023.

Business & Financial Highlights | Q4 FY2023 & Full Year FY2023

Q4 FY23

($ Million)

Q4 FY22

($ Million)

YoY

Change

(Constant

Currency)

FY23

($ Million)

FY22

($ Million)

YoY

Change

(Constant

Currency)

Gross Bookings 1,673.9 1,012.3 80.7% 6,566.2 3,188.9 122.0%
Revenue as per IFRS 148.5 88.6 82.9% 593.0 303.9 110.3%
Adjusted Margin
 Air Ticketing 74.3 44.8 81.0% 280.1 155.5 94.2%
 Hotels and Packages 63.5 42.3 64.2% 259.8 144.1 94.2%
 Bus Ticketing 19.3 12.4 70.8% 77.3 38.3 117.2%
 Others 9.0 5.7 73.5% 34.1 18.6 98.6%
Results from Operating Activities 8.0 3.4 23.6 (30.4)
Adjusted Operating Profit (Loss) (also referred to as Adjusted EBIT) 19.0 12.0 70.3 23.2
Profit / (Loss) for the period 5.4 (4.1) (11.2) (45.6)

Travel demand continues to be robust despite macroeconomic headwinds and Q4 being seasonally  slower quarter. Gross Bookings for Q4 FY23 grew by 80.7% YoY in constant currency to $1.7 billion. FY23  Gross Bookings grew by 122% YoY in constant currency to $6.6 billion.

Adjusted Operating Profit was $19.0 million in Q4 FY23, as compared to $12.0 million in Q4 FY22. FY23  Adjusted Operating Profit was $70.3 million, being the highest ever in our company’s history, as  compared to $23.2 million in FY22, with YoY growth of 203.0%.

  • Profit for the period was $5.4 million in Q4 FY23, as compared to a loss of $4.1 million in Q4 FY22. Loss  for the year has reduced significantly; loss for FY23 was $11.2 million as compared to a loss of $45.6  million in FY22, being a reduction of $34.4 million.

Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, commenting on the results, said, “We witnessed robust recovery in travel demand with significant improvement in consumer sentiment  during the fiscal year ended March 31, 2023. We capitalized on this trend to deliver strong results with over  120% YoY constant currency growth in Gross Bookings. Our profitability expansion has also been significant,  as we delivered a YoY increase of over 200% in Adjusted Operating Profit for the reported fiscal year 2023.  We are glad that our strategy of investing in the right areas coupled with our initiatives to optimize certain  costs has helped us to preserve and strengthen our moat. We remain well positioned for the next fiscal year  with a strong pipeline of product innovation to further enhance customer experience.”

 

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MakeMyTrip collaborates with Microsoft to reshape the travel booking landscape with generative AI https://dev.traveldailymedia.com/makemytrip-collaborates-with-microsoft-to-reshape-the-travel-booking-landscape-with-generative-ai/ Tue, 09 May 2023 08:02:53 +0000 https://www.traveldailymedia.com/?p=793009 The post MakeMyTrip collaborates with Microsoft to reshape the travel booking landscape with generative AI appeared first on TD (Travel Daily Media) Brand TD.

In a landmark move, MakeMyTrip has collaborated with Microsoft to make travel planning more inclusive and accessible by introducing voice assisted booking in Indian languages.

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In a landmark move, MakeMyTrip has collaborated with Microsoft to make travel planning more inclusive and accessible by introducing voice assisted booking in Indian languages. The new, in-platform tech stack powered by Microsoft Azure OpenAI Service and Azure Cognitive Services, will converse with the user to offer personalized travel recommendations based on their preferences; curate holiday packages based on variable inputs like occasion, budget, activity preferences, time of travel, etc., and even help book these holiday packages. It opens the online travel ecosystem for every strata and demographic across the country. Currently, the beta version of this integration has been introduced in English and Hindi for flights and holidays customers.

The next stage of voice assisted booking flow will cover other transport offerings. The feature has been embedded into the landing page of the platform and can be activated with a single click.

“We have pioneered offerings at the intersection of e-commerce, travel, and technology, and are proud to introduce a feature that breaks down the barriers of language, literacy, inability to navigate complex app environments, physical impairments, etc,” said, Rajesh Magow, Co-Founder & Group CEO, MakeMyTrip. “This Generative AI integration through our collaboration with Microsoft involves simple visual cues and voice commands in native Indian languages that will alter the landscape of travel bookings hereon forth.”

MakeMyTrip’s latest offering uses the power of AI and Machine Learning to make travel-related solutions all pervasive, no matter the use case or scenario.  Microsoft’s large language models and Indic language speech models, coupled with MakeMyTrip’s natural language understanding capability and travel domain content creates the base for users to interact with the platform in any Indian language.

Sanjay Mohan, Group Chief Technology Officer, MakeMyTrip said, “We are delighted to introduce revolutionary changes to our platform that align with our philosophy of leveraging tech to solve real consumer problems. The new update will elevate the user experience and make our platform more inclusive, accessible, and easy to navigate. The beta phase will offer us learnings to further fine-tune all use cases before rolling it out to users at scale. As such, we’ll do a very controlled roll-out of this feature with a subset of our customers.”

Sangeeta Bavi, Executive Director, Digital Natives, Microsoft India, said, “MakeMyTrip is a pioneer in the travel industry, and we are honored to work together to define the next frontiers of AI driven innovation and customer engagement in the online travel industry. Bringing together MakeMyTrip’s expertise with Microsoft’s AI capabilities, including Microsoft Azure OpenAI Service, our collaboration will help make travel more inclusive and accessible for travelers across India, with trust and security at the core.”

The intuitive interface powered by Azure OpenAI Service’s GPT technology, will analyse specific user requirements and sift through thousands of options, to recommend, customize and book holiday packages, transforming what has been a time-consuming process into a quick and hassle-free experience. It will also summarize hotel reviews, extracting unique traveller impressions, that is cohort specific – whether a solo traveller, business traveller, couple, family, etc. This will elevate the hotel booking experience by offering personalized and relevant information to the user without having to scroll through multiple reviews.

 

 

 

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MakeMyTrip targets to grow base of franchisees by 50% in 2023 in India https://dev.traveldailymedia.com/makemytrip-targets-to-grow-base-of-franchisees-by-50-in-2023-in-india/ Thu, 30 Mar 2023 03:40:13 +0000 https://www.traveldailymedia.com/?p=782150 The post MakeMyTrip targets to grow base of franchisees by 50% in 2023 in India appeared first on TD (Travel Daily Media) Brand TD.

MakeMyTrip, announced its plan to expand its franchise business in the top 100+ cities of the country. The company started 2023 with 146 active franchisees and aims to grow by more than 50% to reach 220 by the end of the calendar year. 

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MakeMyTrip, announced its plan to expand its franchise business in the top 100+ cities of the country. The company started 2023 with 146 active franchisees and aims to grow by more than 50% to reach 220 by the end of the calendar year. 

“India has emerged as one of the world’s fastest-growing aviation markets. The government plans to add another 80 airports over the next three years, taking the number of airports in the country to 220 by 2025. The focus on modernising the nation’s aviation market in Tier 2 and beyond cities will also mean an increased contribution from such cities to the overall business mix. We see this as an opportunity area and have initiated a multi-pronged strategy to penetrate deeper nationwide,” said Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip. “The franchise network expansion is part of our broader strategy to serve customers in the top 100+ cities of India. The franchise network will help serve those customers who may be more comfortable talking to someone they trust.”

“The trust and affection we enjoy from our customers is evident in the 70% growth in the number of holiday packages sold over the pre-pandemic period. During this period, we have seen increased traction for both franchisees-led as well as online holiday package sales on our platform. Therefore, an action plan has been set in motion to boost demand from both channels further,” said Jasmeet Singh, Business Head, Holidays & Experiences, MakeMyTrip. “We are targeting like-minded entrepreneurs who share a passion for travel. Industry expertise is an advantage but not a must. Interestingly, more than 85% of the business partners who have joined us over the past twelve months are from a non-travel background.”

MakeMyTrip aims to build a hyper-local marketing connection by leveraging its franchisee partners to build travel communities in smaller cities. The initial reaction to the initiative has been positive. In addition, MakeMyTrip has invested in technology as well as training to ensure the service remains consistent across all franchisees. The company has built a proprietary tool, ‘MMTOne,’ which helps the seller to create an itinerary basis for any query within seven minutes. Further, the company has developed an e-learning management system, ‘ILearn,’ with a customized content repository to provide unlimited access to the sales team of franchisees for on-platform certifications. The tools help the company track the progress and the performance of franchisee teams.

MakeMyTrip Holidays is working on an omnichannel strategy to increase its penetration in the holiday packages market. At one level, MakeMyTrip is expanding the number of Franchises in the country. At the same time, the platform recently announced the launch of ‘Dynamic Itineraries’ that allow travelers to customize and buy Holiday Packages in real-time online. MakeMyTrip has also increased the strength of the women-only team of Holiday Experts, who manage all leads requiring assistance, to over one thousand.

MakeMyTrip’s Holiday Packages
The 5000 strong Holiday Packages of MakeMyTrip offer a solution for every traveler. The dynamic or customized tour and travel packages allow consumers to create and design their holiday, while the fixed departure holiday packages have a pre-designed itinerary. In the domestic market, MakeMyTrip offers tailor-made packages for destinations from all over India, including popular ones such as Andaman, Kerala, Rajasthan, Kashmir, Ladakh, and Uttarakhand. The online platform targets varied traveler segments with distinctive packages such as honeymoon, exclusive tours for women, itineraries designed for solo travelers, families with kids, and those who are young at heart. In international, MakeMyTrip has options for leading international destinations, including and not limited to Australia, Bhutan, Dubai, Europe, Greece, Indonesia, Maldives, Mauritius, Nepal, New Zealand, Singapore, Switzerland, Sri Lanka, Russia, Thailand, and United States of America.

 

 

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Industry reflections to the Indian Union Budget 2023-2024 https://dev.traveldailymedia.com/industry-reaction-to-the-indian-union-budget-2023-2024/ Thu, 02 Feb 2023 09:26:35 +0000 https://www.traveldailymedia.com/?p=769366 The post Industry reflections to the Indian Union Budget 2023-2024 appeared first on TD (Travel Daily Media) Brand TD.

Finance Minister Nirmala Sitharaman said that there is a huge potential in the tourism sector which holds huge opportunities for jobs and entrepreneurship for the youth.

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Finance Minister Nirmala Sitharaman said that there is a huge potential in the tourism sector which holds huge opportunities for jobs and entrepreneurship for the youth. We have collated for you below, few reactions to the Union Budget 2023-2024 from the travel trade and hospitality industry.

Unfair advantage to foreign OTAs
Rajesh Magow, Co-Founder and Group CEO of MakeMyTrip stated: “It is noteworthy that the FM has highlighted tourism as a focus area. The union budget entails multiple welcome initiatives like the revival of 50 airports, the building of 50 new destinations, and high budgetary outlays on railways, roads, and highways, which will help long-term growth for the domestic travel and tourism industry.

However, one budget proposal that will negatively impact the industry is the move to increase the TCS mandate from 5% to 20% on overseas tour packages. This will not only increase the upfront cash outflow for customers but will also give an unfair advantage to foreign-based online travel booking platforms over India-based travel agents and tour operators.”

Rajesh Magow

Tourism gets prime focus
Krishna Rathi, Country Director India at Agoda states: “It has been heartening to see tourism get prime focus in today’s Union Budget, the government’s vision and initiatives are a welcome boost to help widespread growth. At Agoda we use our technology to connect our Indian hotel partners to millions of international and domestic tourists to promote local travel. We look forward to exploring ways to further positively impact travel and tourism in the country.”

Krishna Rathi

Develop 50 destinations for domestic and international tourists
Sarbendra Sarkar, Founder & MD, Cygnett Hotels and Resorts, stated: “The Union Budget 2023-2024 presented by the Finance Minister (Nirmala Sitharaman) is a growth-oriented one aimed to help India weather the current global economic challenges. With the FM announcing plans to renew 50 additional airports, helipads, water aero drones, and advanced landing grounds, it will boost regional connectivity. Moreover, the announcement to develop 50 destinations for domestic and international tourists will also help to draw attention to the country’s tourism and hospitality sectors. The Finance Minister said that these tourist destinations will be selected through challenge mode. The impetus on Dekho Apna Desh will provide a further boost to the growth of domestic tourism in the country. The FM also highlighted that states will be encouraged to set up a “Unity Mall” in the capital city or most popular tourist destination for the promotion of the ‘One District, One product’ theme. Such initiatives will also help unleash the potential taped in the tourism sector.”

Sarbendra Sarkar

Ritesh Agarwal, Founder & Group CEO, OYO stated: “The budget presented by  Finance Minister Nirmala Sitharaman offers a roadmap for the holistic development of the nation, as we enter ‘Amrit Kaal’. It sets India up as the Startup Nation for the decade.

Increment in the capital investment by 33% in infrastructure and Urban Infrastructure Development Fund (UIDF) will have a multiplier effect. Announcing a capital outlay of INR 2.40 lakh crore for the railway sector, addition of 50 airports, heliports, water aerodromes, and advanced landing grounds will further provide impetus to overall infrastructure, leading to improved connectivity across the country and enhancing domestic travel and tourism.It is heartening to see the extra emphasis given to tourism this year. The FM has identified tourism as one of the key sectors, with huge potential to generate employment for the youth, and reiterated government’s commitment to promote tourism on ‘mission mode’.”

Ritesh Agarwal

‘Unity Malls’ to be set up
He added, “We welcome the move to develop 50 cities across India as a complete package for domestic and international tourism, and developing an app to ensure all the key metrics related to travel and tourism for the said cities are regularly updated. We also laud the move to incentivise states to set up ‘Unity Malls’ in their most popular tourism destination for promotion of GI, ‘Made in India’ products and handicrafts. Integrated development of theme-based tourism circuit under the ‘Swadesh Darshan Scheme’, with special focus on improving infrastructure and amenities in border villages will provide a much-needed boost to rural and agriculture tourism. This will empower the farmers in building and setting up homestays that provide an additional source of income for them while also providing an authentic Indian experience to the travellers. OYO’s homestay projects in Ektanagar and J&K, in collaboration with respective state governments, have already yielded great results and helped boost tourism and overall economy in these villages.”

Sandeep Arora

Border village tourism initiative
Sandeep Arora, Director of Brightsun Travel India said: “Indian economy is expected to increase by 7% in the year 2023 and tourism is one of the major areas that contributes to it. Development of tourist infrastructure is the need of the hour so the announcement that 50 tourist destinations will be developed for domestic and international tourism is a positive step. Plus, the border village tourism initiative will bring tourists to these far corners helping the local communities earn livelihood and prosper. This year’s budget also saw the highest-ever capital outlay of 2.5 crore for the railways which may provide the push needed for the growth of domestic tourism in the country. Air travel is also expected to rise. Specific focus is needed for the tourism industry to rebound back to pre-pandemic levels and we hope that these initiatives will provide much awaited-relief to the Indian tourism sector.”

Kulbhushan Talwar

Boost to the employment opportunities
Kulbhushan Talwar, Cluster General Manager, Mosaic Hotels said: “We welcome the announcement made by FM to develop 50 tourist destinations in the country as a whole package to encourage both domestic and international tourism. As this step includes the development of destination in terms of transport connectivity, virtual connectivity, tourist guides, tourist security and high standard food joints, it will definitely boost the employment opportunities generated collectively by hotels, F&B players, tour and travel agencies, OTA etc. Also, the government’s plan to launch the ‘Dekho Apna Desh’ initiative will motivate people, especially young tourists to travel within India. The initiative will further strengthen the hospitality, travel and tourism sector to rebound rapidly and compensate for the losses that occur due to the pandemic.Overall, Union Budget 2023 was balanced and I expect the direct tax recommendations will empower the middle class to spend the money on lifestyle and travel.”

Pushpendra Bansal

App for real time information of tourist destinations
Pushpendra Bansal COO Lords Hotels and Resorts states: “Finance minister decision to take tourism on a mission mode in Budget 2023 with active participation of states, convergence of government programs and public-private partnerships is a great move.An app which will provide a real time information of tourist destinations in addition to aspects such as physical connectivity, virtual connectivity, tourist guides, food streets and tourists’ security will surely enhance tourist experience. 50 destinations to be developed as a complete tourist package will promote domestic as well as foreign tourism.”

 

 

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Union,Budget,Printed,On,New,Indian,Currency,Notes Rajesh Magow Cofounder and Group CEO Krishna Rathi New SARBENDRA SARKAR Ritesh Agarwal, Founder & Group CEO, OYO Sandeep Arora, Director of Brightsun Travel India (1) WhatsApp Image 2023-01-31 at 10.37.59 AM Pushpendra Bansal
EEMA signs MOU MyBiz  https://dev.traveldailymedia.com/eema-signs-mou-mybiz/ Thu, 02 Feb 2023 06:27:43 +0000 https://www.traveldailymedia.com/?p=769294 The post EEMA signs MOU MyBiz  appeared first on TD (Travel Daily Media) Brand TD.

The Event and Entertainment Management Association (EEMA) has signed a Memorandum of Understanding (MOU) with MakeMyTrip's MyBiz platform to provide cost-effective and time-saving corporate travel solutions for its members.

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The Event and Entertainment Management Association (EEMA) has signed a Memorandum of Understanding (MOU) with MakeMyTrip’s MyBiz platform to provide cost-effective and time-saving corporate travel solutions for its members. As per the understanding, all member entities of EEMA, located across 100+ Indian cities, will be able to avail of differentiated services offered by the MyBiz platform.

“The partnership aims to simplify and automate the entire travel booking process for all member entities of EEMA through MakeMyTrip’s self-booking platform. This partnership will enable event professionals to focus on what they do best – creating unforgettable events and entertainment experiences – while their travel needs are taken care of by the experts at MyBiz,” said, Ankur Kalra, Treasurer, EEMA

Speaking on the development, Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip, said: “The attempt is to obviate the travel pain points of the events management industry. All the members of EEMA will be able to enjoy a high level of automation and benefits offered by the MyBiz platform leading to valuable savings on the travel budget.”

MyBiz, fueled by its differentiated product offering and a unique go-to market strategy, has emerged as India’s leading corporate travel OTA. The platform offers a gamut of services including booking domestic and international flights, hotels in India and overseas, train, cabs, bus, forex, visa, MICE events for its corporate clients. MyBiz currently serves more than 6300 large & mid-market corporates & more than 39,900 SMEs taking the overall client base well past 46,000 mark.

 

 

 

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B2b platform ‘MyBiz’ records 3X growth over pre-covid period https://dev.traveldailymedia.com/b2b-platform-mybiz-records-3x-growth-over-pre-covid-period/ Fri, 25 Nov 2022 06:24:04 +0000 https://www.traveldailymedia.com/?p=748425 The post B2b platform ‘MyBiz’ records 3X growth over pre-covid period appeared first on TD (Travel Daily Media) Brand TD.

MakeMyTrip’s B2B platform, MyBiz, fueled by its differentiated product offering and a unique go-to market strategy is growing much faster than the corporate travel industry.

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MakeMyTrip’s B2B platform, MyBiz, fueled by its differentiated product offering and a unique go-to market strategy is growing much faster than the corporate travel industry. MyBiz is onboarding large & mid-market corporates; Startups as well as SMEs at an astonishing speed, having recently crossed the 40,000-client user base within just 4 years of its launch.

The platform offers a gamut of services including booking domestic and international flights, hotels in India and overseas, train, cabs, bus, forex, visa, MICE events for its corporate clients. MyBiz currently serves more than 6300 large & mid-market corporates & more than 39,900 SMEs taking the overall client base well past 46,000 mark. The result is that even though the corporate travel market has still not recovered fully, MyBiz has doubled its bookings over last year, and grown more than 3 times over pre-covid period.

“Our intent to automate the entire travel booking process for corporate travellers, offering a b2c experience on a b2b platform, has started delivering impressive results. The high level of automation adds convenience & transparency, which further leads to valuable savings on travel budget for our corporate clients. We are a young player in the corporate travel segment, yet in a short span we are already the leading OTA in this space. Our tech-first agile approach is solving real problems for customers,” said, Rajesh Magow, co-founder & group CEO, MakeMyTrip. “We have acquired 80% of our newly onboarded corporate clients from incumbents this year, without losing any.”

MyBiz has been working on making the on-boarding process easier as well as making billing processes simpler for its users.  Today, a new client, can start transacting on the platform within 2 minutes of being on-boarded. Added capabilities like easy integration with expense management and client’s ERP platform, have enabled corporate travellers to get requisite approvals or bill their expenses with ease thereby making MyBiz the default choice for corporate customers

The true barometer of our success lies-in how much can we help our customers in efficiently managing their travel budget. Our SME business is adding significantly to our overall business, with a very healthy repeat rate. To grow at this rate, without an on-ground team, is further proof of how our digital approach is in sync with the need of our customers,” highlights, Raj Rishi Singh, chief business officer, MakeMyTrip“Our accommodation offering, with a wide variety of 80,000+ hotel & homestay options, has literally changed the b2b travel booking paradigm in the country; in the last two quarters alone, our users have booked hotels in more than 1400 cities across the country using MyBiz. Interestingly, more than 50% of hotel bookings in India happen across tier II/III towns.”

MakeMyTrip targets large, mid, and small enterprises through myBiz and conglomerates and enterprises through Quest2Travel. Some of the leading corporate clients that MyBiz has onboarded in the current year include Max Bupa, Licious, Upgrad, Uniqlo, Hitachi, Blue Energy, Urban Company, Livspace, Biocon, Invest India, Cairn India, NIIT, SRL Diagnostics, ACME, Squareyards, Captain Fresh, Azentio, Vymo, First Ascendas, Reshamandi, Walchand Industries, Cashfree, Forever New, Varun Motors, 5irechain Techno Pvt Ltd.

Leading Enterprises that Quest2Travel has onboarded in the current year includes 3i-infotech, Grant Thornton, Tata Business Hub, Gati Logistics: Firstsource, All cargo, Xiaomi, Air India SATS, Grant Thornton, HDFC Credila, Modenik.

 

 

 

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One in three Indians looking to travel this winter https://dev.traveldailymedia.com/one-in-three-indians-looking-to-travel-this-winter/ Mon, 14 Dec 2020 02:19:32 +0000 https://www.traveldailymedia.com/?p=569713 The post One in three Indians looking to travel this winter appeared first on TD (Travel Daily Media) Brand TD.

One in every three Indian is planning to travel and take a holiday during the upcoming Christmas and New Year season, according to a recent survey conducted by Goibibo’s Consumer Insights

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One in every three Indian is planning to travel and take a holiday during the upcoming Christmas and New Year season, according to a recent survey conducted by Goibibo’s Consumer Insights. The survey indicates that 60% of the respondents who are willing to travel during the winter holiday season are planning to spend the year end vacationing in the hills or by the beach.

Amongst the surveyed more than 70% are hoping to relax and celebrate this winter holiday season with their family, spouse or partner while the rest are looking to end the year traveling with friends and long-not-met colleagues.

While travellers are equally split between beaches and mountains as holiday destination of choice in India – they concur the destination has to bring them closer to nature and be scenic more than anything else. While nearly 70% respondents want to spend time outdoors, soaking in the sights or doing adventure activities like rafting, hiking, water sport or just sightseeing; only 20% respondents are looking to wrap the year at bars or parties. As safety remains paramount, survey responders gave highest preference to sanitization, hygiene and safety certification in their order of priority while choosing their stay option.

Rajesh Magow, co-founder and group CEO of MakeMyTrip that includes MakeMyTrip, Goibibo and redBus, said: “Pent-up wanderlust is real and these survey findings reflect that Indians are finding new ways to fulfil their travel aspirations and are confidently stepping forward when assured of safe travel choices. Over the past few months, we have worked closely and creatively with the entire travel and hospitality value chain to raise safety standards and help customers make the journey from being homebound to being travellers again. Bookings for the winter festive holiday season on goibibo indicate an increase in travel to domestic leisure destinations including Goa, Lonavala, Mahabaleshwar, Pondicherry, Coorg, Shimla, Manali and Darjeeling. As we step into 2021, we are confident of a continued upward travel trend that will find more force as mass vaccine rollout plan materialises.”

The survey conducted among 2,000+ respondents between 15 November to 5 December 2020 further indicates that the winter holiday season will witness nearly 60% leisure travellers booking a trip for two or more days.

Long distance leisure travel makes a strong comeback while drive-through holidays continue to remain a preferred option amongst Indian travellers. 50% travellers across all demographics and cohorts are willing to opt for air travel for the upcoming winter holiday season signalling a strong boost in passenger confidence and trust in hopping on to a flight for a holiday post pandemic.

With flight holidays in equal consideration as drive-through holidays, the preference to air travel can also be attributed to the mini-road trips undertaken by people since Unlock was announced in July.

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‘Game On!’ MakeMyTrip forays into UAE with first campaign for IPL cricket fans https://dev.traveldailymedia.com/game-on-makemytrip-forays-into-uae-with-first-campaign-for-ipl-cricket-fans/ Thu, 17 Sep 2020 05:07:28 +0000 https://www.traveldailymedia.com/?p=559272 The post ‘Game On!’ MakeMyTrip forays into UAE with first campaign for IPL cricket fans appeared first on TD (Travel Daily Media) Brand TD.

MakeMyTrip announced its foray into the United Arab Emirates with its portfolio of rich travel offerings for travellers

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MakeMyTrip, one of the leading travel tech platforms in Asia announced its foray into the United Arab Emirates with its portfolio of rich travel offerings for travellers across Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah, Ras Al Khaimah, and Umm Al Quwain. With over two decades of experience in serving and catering to the ever-evolving traveller needs in the region, the company has now set its focus on redefining the experience for travellers in the UAE through its wide gamut of offerings spanning across flights, hotels, staycations, activities and more.

In parallel, as the UAE gears up to welcoming and hosting India’s biggest cricket celebration, the Indian Premier League (IPL), to add more thrill and excitement for cricket lovers, it will launch its first customer engagement campaign, Game On! on 19 September.

As the company enters one of the key global travel and tourism hubs, Rajesh Magow, co-founder and group CEO of MakeMyTrip said: “We are excited to bring MakeMyTrip to the UAE and introduce rich travel offerings that are stamped with our deep understanding of evolving traveler needs that will serve the expatriate as well as Emirati population in the region. We are looking forward to elevating the travel experience through hassle-free booking processes, safe travel options available at great value, and seamless post booking support. As the travel industry gets back on the rails after pandemic-led disruption, we continue to believe in the long-term opportunity in travel and are confident of the opportunity that the UAE market represents as a global travel hub.”

As the company expands into the UAE market, it brings with it an all-inclusive travel platform that will allow travellers to discover, choose, and book from a wide range of travel options. The offerings on the platform are tailored to suit the diverse interests and demands of all customer segments. The travel offerings on the platform are well suited to serve the needs of the UAE’s large expatriate community as well as the local population. The services are already live on MakeMyTrip Website, Mobile-Web and App in English, and the Arabic version is set to be launched soon.

With people gradually returning to travel in the new normal post the pandemic, it has readapted its offerings to assure safety standardization and augmented hygiene standards in compliance with the guidelines issued by WHO and local travel authorities. Together with its partners across the value chain, the company has successfully rolled out its offerings for airlines, hotels and holiday packages including staycations, daycations in conformity with MySafety, its safety assurance programme that ensures safety across all travel touchpoints.

The Game On! campaign has been themed and conceptualised around reviving the vigour of celebrating life in the world post-COVID-19 — by marrying two most loved out and about activities — cricket and travel. The campaign includes a one-of-a-kind gaming contest on the app allowing travel and cricket fanatics to participate in daily raffle contests and trivia on IPL – gratifying winners with ‘unlimited cash earn, and unlimited burn on anything travel’ and more.

This season, MakeMyTrip is also rooting for and co-sponsoring three teams including Royal Challengers Bangalore (RCB), Mumbai Indians (MI) and Chennai Super Kings (CSK). As part of the Game On campaign, winners of the daily run ‘predict and win’ contest will also get an exclusive chance to interact with their favourite players virtually.

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MakeMyTrip founder Deep Kalra steps down as group CEO https://dev.traveldailymedia.com/makemytrip-founder-deep-kalra-steps-down-as-group-ceo/ Thu, 13 Feb 2020 02:15:29 +0000 https://www.traveldailymedia.com/?p=536362 The post MakeMyTrip founder Deep Kalra steps down as group CEO appeared first on TD (Travel Daily Media) Brand TD.

Deep Kalra, group chief executives of MakeMyTrip, has stepped down, with co-founder Rajesh Magow, who was heading its India business, taking over Kalra’s role. Kalra will now serve as executive chairman, the company said in a statement. “He will devote his full time to pursuing strategic initiatives, including product innovation and expansion, geographic growth, business […]

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The post MakeMyTrip founder Deep Kalra steps down as group CEO appeared first on TD (Travel Daily Media) Brand TD.

Deep Kalra, group chief executives of MakeMyTrip, has stepped down, with co-founder Rajesh Magow, who was heading its India business, taking over Kalra’s role. Kalra will now serve as executive chairman, the company said in a statement.

“He will devote his full time to pursuing strategic initiatives, including product innovation and expansion, geographic growth, business model innovation and corporate development, in his new role as group executive chairman,” the company said.

Rajesh Magow, who was till recently CEO of MakeMyTrip India, will now take over as group chief executive, a move that effectively separates the two roles.

“Focus on long-term strategic opportunities.”

The online travel agency has a market capitalisation of USD 2.74 billion as of now. The company, founded by Kalra in 2000, was among the earliest cohort of Indian consumer internet companies to go public when it made its USD 70 million debut on the Nasdaq in 2010.

Kalra was also instrumental in acquiring its closest rival, Ibibo Group, in a largely stock acquisition valued at about USD 1.8 to 2 billion in 2016, creating an online travel behemoth that controls 60%-70% of the online travel market. “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,” he said.

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