Nasdaq-listed online travel agency MakeMyTrip is partnering with offline travel agents to woo travellers back, with the launch of a dedicated platform called myPartner, post COVID-19.
The partnership will be for hotel inventory on the platform. MakeMyTrip claims to have over 60,000 accommodation properties in India and 5,00,000 outside the country listed on its site.
The company, which is far from its pre-Covid volumes, is targeting at least 50-60 percent recovery across the overall activities it offers on its site by the end of the financial year.
“We do not have a hard target. The idea is to take a long-term view. If we get to 50-60 percent by the end of the year, we would be lucky,” Rajesh Magow, Group CEO, MakeMyTrip, told reporters over a video conference.
Besides accommodation, MakeMyTrip offers flight, bus and train bookings and holiday packages.
Why travel agents are crucial
According to the company, travel agents have a pan-India base, a very loyal customer base and deep understanding of the travel industry. “They have the demand, but they struggle with supply,” Magow said, adding that this will give MakeMyTrip a robust omni-channel presence.
The sector, which came to a screeching halt amid the COVID-19 pandemic, has started to open up in a phased manner since June 8 under the government's ‘Unlock 1.0’ plan.
From investing heavily in workstation setups to ensuring zero-contact check-ins, hotels are ticking every box to cash in on the early wave of opportunity.
According to Vipul Prakash, Chief Operating Officer, 20 percent of all room nights booked in India are by travel agents.
“Access to inventory is why they would join us. Travel agents play a very critical role in the revival. They have the demand but struggle with supply,” he said.
myPartner has been conceptualised and built to cater to the highly-fragmented local travel market beyond metro cities.
With real-time access to inventory spanning across all travel segments, local agents in Tier II and III markets and beyond will be able to simplify and provide transparency throughout the booking process to travellers, while providing a larger number of travel options.
MakeMyTrip said it has initiated a refund of over Rs 250 crore to the customers, post the lockdown till last month. This is against the cancellations made during the four months from April 2020.
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