EaseMyTrip to Give attention to Rising Its Non-Air Enterprise

Indian on-line journey firm EaseMyTrip will probably be specializing in rising its non-air enterprise in fiscal 2025, Prashant Pitti, its co-founder, mentioned throughout an earnings name Friday. 

Within the January to March quarter of 2024, the corporate’s lodge section recorded a virtually 40% enhance in bookings, whereas there was a 53% development in bookings in different non-air segments, together with vacation packages, actions, and practice bookings. 

“Lots of development will come from the non-air enterprise,” he mentioned and added that the corporate’s give attention to rising its non-air enterprise in latest quarters led to elevated profitability.

“This space will proceed to stay the main target for the approaching yr,” Pitti mentioned. 

The corporate, nevertheless, may also proceed to develop its air enterprise. “The Indian airline trade is anticipated to develop 15% yearly for the following decade. There isn’t a different nation which is anticipating to have greater than 100 new airports are available a decade’s time.”

EaseMyTrip’s Fourth Quarter: New Initiatives

Within the fourth quarter of the 2024 monetary yr, the corporate undertook just a few initiatives to drive its development.

• Co-brand bank card: Throughout the quarter, EaseMyTrip launched its co-brand bank card with Punjab Nationwide Financial institution as a way to develop its attain to the purchasers of the financial institution. EaseMyTrip rivals MakeMyTrip and Yatra even have co-brand bank cards with completely different banks. 
• Offline enlargement: The corporate opened 4 franchise shops through the quarter as a way to develop its offline attain. The thought behind the franchise shops, Pitti mentioned, to cater to prospects within the smaller cities that want to purchase vacation packages offline. 
• New lodge in Ayodhya: EaseMytrip acquired a 50% stake in Jeewani Hospitality to develop a 150-room lodge in Ayodhya. The lodge will probably be operated by the Radisson Lodge Group. This, nevertheless, is a one-time exception, as the corporate doesn’t plan to proceed the asset-heavy enterprise mannequin. “We’re trying ahead solely to buying asset-light enterprise fashions, worthwhile companies,” he mentioned.
• Enterprise into insurance coverage sector: The web journey firm has additionally entered into the insurance coverage journey sector as a way to diversify its portfolio. On this section, EaseMyTrip’s thought is to be an insurance coverage broking enterprise. “We’re not going to be the insurer,” Pitti mentioned, including that the corporate ventured into this section upon observing that there was an overlap of 75% within the folks reserving their tickets on-line and other people buying insurance coverage on-line. 

Photograph Credit score: EaseMyTrip appears to be like to develop its non-air enterprise.