MakeMyTrip to invest in advanced technologies
MakeMyTrip Limited is targeting hotels in Tier II cities of India to give its hotel reservation business a boost confirmed a senior official. The official also confirmed that the company will invest in advanced technologies such as artificial intelligence, voice, chatbots amongst others to better its services and products.
The official said that the company is eyeing on strengthening deals with hotels from South East Asian countries, the Middle East and European countries where Indians largely travel.
Speaking on the occasion, Parikshit Choudhury, Chief Business Officer-India Hotels, Holidays and Alternate Accommodation said, “We will be investing in artificial intelligence, chatbots, voice and other technologies to grow the hotel reservation business. As per our study, only 15% of the hotel bookings are done online which shows there is a huge potential.”
Choudhury confirmed that more than 60,000 hotel rooms are booked through the platform. He also confirmed that the company will offer GoStay certificates to budget accommodations to meet minimum quality criteria so that a guest can expect some uniformity in services.
“As regards our overseas expansion plans, we are looking at countries where Indian travellers largely go such as South East Asian nations, Europe, Middle East and the like,” Choudhury said.
In a recent equity research report on MakeMyTrip, Jefferies India said, “The Indian travel market remains a significant long-term growth opportunity with air travel still under-penetrated due to low-income levels and online booking of hotels and packages still much below global averages.”
Jefferies stated that MakeMyTrip is the solid player in online travel booking sector with 60% market share in air tickets booking and more than 50% in hotel rooms bookings.
February 24, 2020
February 21, 2020