Deep Kalra said, “By the end of 2022, 70 percent of our revenue will come from the hotels and accommodations segment.” Read on...
Up until a few years ago, traveling involved visiting and exploring new places with family during either summer holidays or the Christmas and New Year holidays. Only businessmen and businesswomen were traveling the year round.
But since the inception of the internet happened, the world has become smaller and closer. Travelling has become the new cool for the millennial. The millennial is taking full advantage of the technological advances made in the market for making things simpler yet fun.
The millennial wants to party in every unnamed island and wants to explore every day, and that needs to be fed on the social media platforms. MakeMyTrip came into existence in 2000 when the word travel was not that cool as it is today, but Deep Kalra, Founder and Group CEO, MakeMyTrip, had predicted it and thank god he did! He transformed the travel business like it’s no one’s business.
The Travel Business
The company initiated its journey serving the US-India travel market, offering a range of best-value products and services powered by technology and round-the-clock customer support. MakeMyTrip launched its Indian operations in 2005 and since then it hasn’t looked back. It came to life to empower the Indian traveler with instant booking and comprehensive choices.
In a recent interview, Deep Kalra said, “By the end of 2022, 70 percent of our revenue will come from the hotels and accommodations segment.”
This shows that not only foreign travelers have increased over the years, but there has been a significant increase in people traveling within India and to international companies. The reasons might vary from increased disposable income, lifestyle changes, changes in lifestyle needs and technology playing a bigger role.
The online world has made selecting a destination, booking air tickets, booking hotel rooms and easy payments very feasible for the millennial.
Deep adds, "The big focus area for us and where Indians are going right now is overseas. The middle class has money and is traveling overseas as it is aspirational.
MakeMyTrip provides access to all major domestic airlines operating within India as well as all major airlines operating to and from India, with over 60,000 domestic accommodation properties in India and more than 5 lakh properties outside India, Indian Railways and all major Indian bus operators.
Kalra says, “Out of our 60,000 hotel partners, around 99.9 percent are still with us."
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