"MakeMyTrip" to set up beachhead
(Flights, holidays and hotels via website)

Mumbai June 18, 2005
Business Standard

MakeMyTrip.com- the Rs 90 crore, New Delhi-based online travel company servicing the non resident Indian (NRI) market, will launch its Indian operations next month.

Deep Kalra, chief executive officer, MakeMyTrip.com said, " Since our inception we have focused on inbound traffic alone; however with the entry of apex fares and launch of several low cost carriers in India we feel this is the right time to explore the domestic tourist traffic."

The company has tied up with all the major airlines, hotels and financial institutions to offer its services to Indian public.

The company has raised $10 million from SB Asia Infrastructure Fund (SAIF) out of which it will spend $5-$7 million in acquring a domestic travel company.

Kalra said that talks are on with several Indian travel companies and a decision would be arrived only by the end of the year. The company will set up a call centre in Delhi that will provide a round the clock service to customers.

Indians have conventionally known to plan their travel plans through travel agents and Kalra hoped this would change in due course considering several international online travel companies like Expedia.com, American Express will also make their presence felt in the country soon.

Kalra is targeting 100,000 online customers in the first year of operations.

MakeMyTrip.com is a five year old company that serviced the Indian expats in the US offerinng real time booking for flights, holidays and hotels via its website. The website is also supported by a 24X7 call center.

Globally, one third of all e-commerce is travel- commerce.In the United States alone, 25 per cent of all travel is booked online which is expected to move to 50 per cent by 2008. In 2005, the e-bookings in the US alone will be a $50 billion.

According to international studies, India is ranked as the second fastest growing traveland tourism economy in the world, growing at8.8 per cent over the next 10 years.

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