MakeMyTrip to raise hotel options up to 40,000 in 2-3 years

MUMBAI: Comprehensive travel website MakeMyTrip today said it is planning to increase its accommodation options to up to 40,000 hotels in 2-3 years.

"Currently, we offer over 24,000 hotels accommodation options and going forward we are planning to increase it to 35,000-40,000 in 2-3 years," MakeMyTrip Chairman and Group CEO Deep Kalra told reporters here.

On the company's revenue model, Kalra said, "The growth in our hotel-reservations and holiday-package bookings segment is growing faster than our ticketing segment, which is increasing at a steady pace."

At present, the company's 50 per cent revenue comes from ticketing segment, 48 per cent from hotel-reservations and holiday-package bookings segment and 2 per cent ancillary revenue from advertisements on the portal.

He said the overall macro sentiments are positive and it is the right time to identify and execute opportunities to unlock the market potential.

"However, due to lack of infrastructure and ample quality accommodation, the tourism sector in our country is not about to match with the growth rate of other smaller nations," he added.

Kalra further said that for the Nasdaq listed company, which already commands nearly 50 per cent of the online travel market share in India, the key lever of future growth will be offline-to-online, or rather, offline-to-mobile shift.

The company, which had bought stake in companies like HolidayIQ.com, Inspirock and Mygola, is looking at investments and tie-ups that will help the company with more customer base and experience, the Group CEO said.

"We have USD 15 million investment innovation fund and are looking at options that will enhance our customer experience and also increase our customer base," he added.