A mobile-centric approach and the emergence of new digital platforms fuelling greater adoption of e-commerce has driven reach and growth of MakeMyTrip, the online travel company said in a presentation to investors. With 28.1 per cent growth, the platform’s gross bookings reached $5.4 billion in the 2019 financial year compared to the previous year.
In the first half of fiscal year 2020, gross bookings reached $3.2 billion, a growth of 22.3 per cent year-over-year. Its adjusted revenue grew 17.3 per cent year-over-year to reach $379.6 million during the first half of this fiscal.
The platform experienced 13.5 per cent growth in air ticketing segment, 13 per cent growth in standalone online hotel bookings and 37.4 per cent year-over-year growth in bus tickets sold.
Increasing use of Artificial Intelligence, Machine Learning and Big Data is driving better user experience, MakeMyTrip claimed. Low penetration of hotels booked online presents large opportunities of growth in India, according to the presentation.
While the current online hotel booking penetration rate is just 15 per cent in India, it is about 30 per cent in China, 41 per cent in European Union and 46 per cent in the US.
MakeMyTrip offers its customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, over 66,500 domestic accommodation properties in India and more than 500,000 properties outside India, Indian Railways and all major Indian bus operators.
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