Travel
Domestic travel operators to see 15-17 pc revenue growth this fiscal: Crisil Ratings
India's tour and travel operators expected a 15-17 per cent revenue increase this fiscal, driven by domestic and international travel. Improved infrastructure, higher incomes, and government focus on tourism contributed to growth. Steady operating margins and healthy credit profiles supported the sector, as reported by Crisil Ratings.
India's hospitality sector to see strong tailwinds; demand to outpace supply: Thomas Cook
Thomas Cook India's Executive Chairman Madhavan Menon disclosed plans to expand the hospitality sector, predicting strong demand growth. The company planned to open around 20 new holiday outlets using a phygital approach. Reported net profit and revenue saw an increase for the April-June quarter. The hospitality arm, Sterling Holidays, aimed to add 20 more resorts over the next 15 months.
Travel industry set for strong upswing in 2024: CRISIL
India's travel sector experienced a remarkable revival, with outbound tourism projected to surpass 30 million in 2024. Factors like eased COVID-19 restrictions, growing disposable incomes, and government initiatives have spurred this growth. Tour operators expected a 15-17% revenue rise this fiscal year, bolstered by domestic and international travel trends, and enhanced infrastructure.
For Independence Day break, travellers make tryst with luxury
The extended weekends in August, including Independence Day, resulted in a booming demand for hotels and flights, causing prices to soar and popular destinations to quickly sell out. SpiceJet promoted travel during holidays such as Parsi New Year, Rakshabandhan, and Janmashtami. Notable destinations like Udaipur, Lonavala, and Goa saw heightened interest. Premium properties such as The Taj Rishikesh Resort & Spa and The Oberoi Udaivilas in Udaipur had high rates. Espire Hospitality Group's resorts also experienced high occupancy. Cleartrip documented over 15,000 air bookings for the long weekend, marking a 37% increase.
EaseMyTrip to hire 500 interns in next 3-6 months: CEO Nishant Pitti
EaseMyTrip has announced plans to hire over 500 interns across India over the next 3-6 months to support the government's new internship scheme. Interns will be placed in departments such as sales, marketing, and customer care. The scheme aims to provide internships to 1 crore youth in 500 companies over five years, with financial support for training.
MakeMyTrip will grow at twice the industry rate: Group CEO
MakeMyTrip achieved over $2 billion in bookings in Q1, driven by international travel and young travelers' multiple vacations. CEO Rajesh Magow outlined plans for further growth through international hotels, homestays, and diversified travel segments, anticipating growth in international revenue as visa issues resolve.
Many taking path less travelled
Mallorca saw renewed anti-tourism protests over rising housing costs caused by tourists. Similar protests occurred in Barcelona, Malaga, and the Canary Islands. Residents of Japan's Fujikawaguchiko even blocked a popular view of Mount Fuji. Increasing tourism in India, like in Goa and Puducherry, has led to ecological and infrastructural strains. Policymakers are reluctant but considering tourism limits.
Travel sentiment remains strong for domestic destinations in monsoons, says Cleartrip
Travel sentiment remained high despite monsoon rains, with a preference for domestic destinations like Goa, Kashmir, and Kerala, Cleartrip reported. Bhubaneshwar saw a 20% rise in bookings due to the Jagannath Puri Rath Yatra. Internationally, Indonesia, Malaysia, Thailand, and Sri Lanka maintained popularity, with Kazakhstan also seeing increased bookings.
Uttarakhand Tourism launches homestays booking portal
Uttarakhand Tourism's www.uttarastays.com allows free homestay bookings without fees or revenue sharing. Small homestay owners can register and get real-time feedback. Supported by government, the Deendayal Upadhyay Homestay Scheme provides subsidies and training. CEO Sachin Kurve aims to connect 5,000 homestays with wellness centres offering Yoga, naturopathy, and ayurvedic massages, ensuring seamless booking.
MMT clocks highest ever gross bookings in Q1FY25
MakeMyTrip's CEO, Rajesh Magow, reported a 22% year-on-year growth in its gross booking value for Q1 2022, reaching over $2.4 billion. The adjusted operating profit was $39.1 million, a 30% year-on-year increase. The company's strategy of catering to various travel use cases and targeting demand segments on multiple customer touchpoints has helped sustain growth.
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Tourism and hospitality industry disappointed with the budget
Budget 2024: The travel and hospitality industry has expressed dissatisfaction with the Union Budget 2024-25, noting that several key demands were unmet. These included granting infrastructure status to the hospitality sector, increasing marketing and publicity budgets for inbound tourism, and reducing GST rates on travel and hospitality. Aashish Gupta of FAITH highlighted missed opportunities for supporting tourism growth. Rajiv Mehra of the Indian Association of Tour Operators criticized the lack of focus on boosting inbound tourism. The budget cut funding for overseas promotions to Rs 33.02 crore, down from Rs 100 crore.
Budget 2024: Nirmala Sitharaman provides big push for temple towns to promote tourism
Union Finance Minister Nirmala Sitharaman announced plans to develop Vishnupad Temple and Mahabodhi Temple corridors in Bihar into world-class tourist attractions, inspired by the Kashi Vishwanath Temple Corridor model. Additionally, the government will enhance tourism in Rajgir, Nalanda, and Odisha, with a significant increase in the tourism budget aimed at boosting economic growth and job creation.
Union Budget: A binocular view of travel industry's Budget expectations for Viksit Bharat
Budget 2024: As the budget session approaches under Modi 3.0, anticipation is high in the travel and tourism sector. Expectations focus on enhancing infrastructure, improving connectivity, and boosting travel experiences. Granting infrastructure status and policy regularisation can unlock funding, while rationalising GST rates can make travel more affordable. Financial incentives and tax modifications could stimulate domestic tourism. The upcoming budget is poised to propel the industry towards inclusive growth and global competitiveness.
After busy summer, travel biz hots up in monsoon too
India's travel bookings surged 25% this monsoon. Rajeev Kale cites value and discounts. Hotel tariffs dropped 20-40%. Leisure Hotels, Radisson, SOTC see growth. Premium rates in Goa, Kerala, Coorg. Top short-hauls: Bhutan, Sri Lanka. Mehul Sharma's Signum Resort, Igatpuri occupancy up 24%. Popular: Malabar river festival, Alappuzha boat race, Dubare Elephant Camp.
Up, up and away! After pandemic, more senior citizens are packing travel bags
Post-pandemic, senior citizen travel surged. Thomas Cook launched packages with Sakura tour and 25% Europe travel growth. Domestic travel rose 15%. GenS app to offer immersive experiences. Silver Citizens group grew to 400. Increased cruising demand. Varanasi, Ayodhya, Shirdi, and more destinations saw double-digit flight booking growth. Rajeev Kale highlighted short-haul international travel.
Yatra hasn't refunded you for COVID-19 flight cancellations? It has got an order to speed up
The Central Consumer Protection Authority has instructed Yatra to expedite pending refunds for flight cancellations during the COVID-19 lockdown. Yatra must establish dedicated seats at the National Consumer Helpline for contacting passengers and has made significant progress in reducing pending refund bookings, refunding 87% of owed amounts. Other major travel platforms have completed all COVID-19-related refunds.
