MakeMyTrip leverages tech to disrupt the 'Holiday Packages' market

MakeMyTrip, India's leading online travel company, is leveraging technology to disrupt the Holidays packages market in the country. The company has built capabilities to launch 'Dynamic Itineraries' that allow travelers to customize and buy Holiday Packages in real-time online. The travelers can now derive multiple package options using filters such as destination city, travel date, duration, etc. In sharp contrast, the Indian Holiday Packages industry primarily uses online for query purposes while the actual process is offline.

"We wanted to liberate the traveler so she can make confident decisions online, offering transparent pricing and a customizable platform. This is not an easy task in the packages business, given the involvement of multiple partners and suppliers. The path to 'Dynamic Itineraries' took us more than two years," said Vipul Prakash, COO, MakeMyTrip. "The online platform mimics offline holiday buying behaviour since planning and buying a holiday is not a mere transaction but an experience. We are delighted with the reaction of users as they are now enjoying this new way of planning their holidays."

To serve travelers who prefer offline assistance, MakeMyTrip has strengthened its network of franchise stores from 100 at the beginning of the year to 140. The women-only team of Holiday Experts who manage all leads requiring assistance has increased from 700 to 1000 over the same period.

"We have options for all travelers - from customizable ones to fixed-duration packages. From real-time online options to assisted and guided sales," said Jasmeet Singh, Business Head, Holidays & Experiences, MakeMyTrip. "This omnichannel, tech-led, asset-light approach is helping us gain strength with every passing quarter in our Holidays line of business. We have grown by 166% over the pre-pandemic period, becoming a significant player in the domestic packages market. We remain focused to get a larger market share in the international packages market."

The Board of Directors approves the following 'Composite Scheme of Arrangement':

(i) Demerger of the TAN Business (Mining Chemicals) from STL to Deepak Mining Services Private Limited (DMSPL), a wholly owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL); and

(ii) Amalgamation of Mahadhan Farm Technologies Private Limited (MFTPL), being a wholly owned subsidiary of STL, with STL.

This draft Scheme of demerger is subject to customary, statutory, and regulatory approvals including approvals of respective shareholders and creditors, NCLT and all other regulators as may be required.

Source : Equity Bulls

Keywords

MakeMyTrip MMT HolidayPackages Disruption