Financial Daily from THE HINDU group of publications
Wednesday, Jun 22, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 22, 2005 |
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Info-Tech
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E-Commerce & E-Business Industry & Economy - Travel & Places MakeMyTrip.com to focus on India Tunia Cherian George
Mumbai , June 21 THE launch of e-tickets by airlines, a lead that the Railways plans to follow, as well as the growing use of the Net to make air and rail bookings have given an impetus to the expansion plans of MakeMyTrip.com, a domestic online travel company. Launched in 2000, the company has so far focussed its attention on business from NRI clientele in the US and will soon roll out e-travel services here. Scheduled for a soft launch in India by mid-July followed by a formal launch in August, the company is banking on the growing acceptance of Net-based transactions in the country. "I would have been a bit sceptical about launching an online business in India last year. But the market has changed. We will, of course, go for the early adopters of whom there are plenty around," says Mr Deep Kalra, CEO, MakeMyTrip.com. Today, he pointed out, the Indian Railways did 8,000-9,000 Internet bookings a day, while Air Deccan's Web site completes Rs 2 crore worth of bookings each day. Providing another example, he spoke of the SpiceJet Web site recording 37,000 bookings on the day of its launch. He identified the rail holiday as a business opportunity in India. The product, which clubs a rail journey and hotel accommodation in a single package, could become popular as it would be more moderately priced under Rs 10,000. The portal has already signed up with 250 hotels across the country and hopes to rope in 400 by the launch. "Today, the problem is of room availability and not so much of tariffs," he said. "We are making presentations to the top hotels in the country so as to present a consolidated online inventory of the rooms available in the country." The company recorded revenues of $20 million (about Rs 100 crore) last year. It is looking at revenues of $50 million this year, with about $14 million expected from new business generated within the country.
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