EaseMyTrip, a travel platform headquartered in New Delhi, expects a "blockbuster quarter" during the festive season. The platform has observed an increase in bookings for the upcoming Christmas week, with a year-on-year surge of 20-30 percent.
In a conversation with CNBC-TV18, Prashant Pitti, Co-founder of EaseMyTrip, expressed optimism about the current quarter, particularly during Christmas, which coincides with a long weekend. He noted that the winter vacation season is favourable for business, with 3.5 million people expected to arrive in India, contributing to the growth of the travel and tourism industry. The increased bookings reflect a rising enthusiasm among consumers for festive travel plans as the travel industry continues to recover.
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Pitti also discussed the company's plan to explore acquisitions in the hotel business, which currently contributes nearly 10 percent to its revenue and is experiencing exponential growth. Earlier this month, EaseMyTrip entered into a collaboration with telecom major Vodafone Idea (Vi) to introduce exclusive travel offers for its subscribers, including special deals on flights, domestic and international hotels, train reservations, bus bookings, and cab services. As an introductory offer, Vi informed customers that no convenience fees would be levied on flight bookings, further boosting sales of the travel deals.
EaseMyTrip, operated by Easy Trip Planners, wants to focus on enhancing profitability in the current fiscal year. The travel-tech platform is targeting a compound annual growth rate (CAGR) that is double the market's expected 10-15 percent, Pitti told the business television channel.
"We are in a market that is going to grow at a CAGR of more than 14-15 percent on an annual basis for the next 10 years. At EaseMyTrip, we are striving to grow at double the pace of the market," he added.
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Pitti said the company's gross merchandise volume (GMV) was about Rs 8,000 crore last year. The focus this year will be on profitability while continuing to expand the GMV, albeit not at an exponential pace like before.
Established in 2008, EaseMyTrip, an internet-based travel company headquartered in New Delhi, continues to demonstrate its resilience and growth in the dynamic travel landscape.
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