Latest news with #RikantPittie
India Gazette
4 days ago
- Business
- India Gazette
EaseMyTrip growth continues with Gross Merchandise Value at Rs 8691.6 cr in FY25, Hotels and Holidays grew at 189% YoY in Q4
New Delhi [India], May 31 (ANI): growth continues with a strong financial performance for the fourth quarter and full fiscal year 2024-25 (FY25), driven by robust performance across multiple verticals and strategic expansion into new domestic and international markets. According to the company's statement, Gross Booking Revenue (GBR) for Q4 FY25 stood at Rs 2,192.7 crore, while revenue from operations touched Rs 139.5 crore. For the entire financial year that ended on March 31, 2025, EaseMyTrip recorded a Gross Booking Revenue of Rs 8,691.6 crore. Revenue from operations reached Rs 587.3 crore. The company reported an EBITDA of Rs 17.3 crore in Q4, with a margin of 12.1 per cent. Total Comprehensive Income during the quarter was Rs 18.5 crore. The company's EBITDA for the year was Rs 161.2 crore with a margin of 26.7 per cent, while Total Comprehensive Income stood at Rs 117.1 crore. A major contributor to this performance was the company's focus on strengthening its non-air segment, which saw significant year-on-year growth. In Q4 FY25, the Hotels and Holidays segment grew by 189 per cent YoY. Hotel night bookings rose to 2.8 lakh, marking a 101.3 per cent increase compared to the same period last year. For the full year, hotel night bookings increased by 81 per cent, reaching 9.3 lakh compared to 5.2 lakh in FY24. The Trains, Buses, and Others segments also recorded healthy growth. In Q4 FY25, bookings increased from 2.7 lakh to 3.6 lakh, representing a 32 per cent rise YoY. For the full fiscal year, bookings in these segments rose by 26 per cent, touching 13.03 lakh compared to 10.4 lakh in the previous financial year. On the leadership front, Rikant Pittie, one of the co-founders of EaseMyTrip, was appointed CEO effective January 1, 2025. He was also named Chairman of CII Delhi State for 2025-26, becoming the first unicorn founder to hold the post. His appointment is expected to drive the company's long-term growth and strategic direction. EaseMyTrip's international operations, particularly in Dubai, posted exceptional growth. In Q4 FY25, the company's Dubai operations recorded a Gross Booking Revenue of Rs 231.7 crore, a remarkable 266.4 per cent increase from Rs 63.2 crore in Q4 FY24. For the entire FY25, the Dubai vertical registered a GBR of Rs 701.4 crore, up from Rs 205 crore in FY24, reflecting a 242.2 per cent year-on-year growth. The performance highlighted the company's ability to tap into international markets effectively. To further its global ambitions, EaseMyTrip set up new wholly owned subsidiaries in Brazil and Saudi Arabia, named Easy Trip Planners Do Brasil Ltda. and Easy Trip Planners Limited, respectively. These moves mark the company's official entry into two fast-growing travel markets. Brazil's travel sector is projected to reach USD 22.3 billion by 2028, while Saudi Arabia's tourism industry is expected to more than double to USD 110.1 billion by 2033. Establishing an early presence in these regions is a part of EaseMyTrip's strategy to diversify geographically and capture new demand. EaseMyTrip has also expanded its footprint in the Middle East and the U.S. It invested in two Dubai-based firms, Ease My Trip Tours L.L.C. (EMT Tours) and Ease My Trip Holiday Homes L.L.C. (EMT Holiday). In the United States, the company made additional investments in EaseMyTrip USA. These steps align with the company's goal to grow globally while managing operations efficiently from India, maintaining quality and consistency across markets. Back home, EaseMyTrip continued to focus on expanding its offline presence in smaller cities. It launched its 25th franchise store in Kodialbail, Mangalore, targeting Tier-2 and Tier-3 markets. These stores offer a full range of travel services, including flight bookings, hotel reservations, bus and rail ticketing, and customised holiday packages. This expansion strategy is aimed at bridging the gap between online convenience and offline access, especially for customers in smaller towns. EaseMyTrip, through its subsidiaries YoloBus and Easy Green Mobility, won Madhya Pradesh's first intercity electric bus tender, issued by Sagar City Transport Services Limited. This win is a significant step in the state's push for sustainable transportation and supports India's FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme. The move also aligns with EaseMyTrip's broader ESG (Environmental, Social, and Governance) goals and reflects its intent to diversify into green transport solutions. In a move to further drive outbound tourism, EaseMyTrip signed strategic Memorandums of Understanding (MoUs) with the tourism boards of Penang, New Zealand, South Korea, and Sabah. These partnerships include co-funded marketing campaigns, dedicated microsites, curated content, and influencer collaborations, focusing especially on customers from Tier-2 and Tier-3 Indian cities. In spiritual tourism, EasyDarshan, another EaseMyTrip initiative, partnered with the Ayodhya Development Authority to open a Theerth Yatri Sewa Booth at Lata Mangeshkar Chowk in Ayodhya. The booth offers travel assistance and helps expand homestay infrastructure to meet the growing accommodation demand in the city. Ayodhya attracted over 5 million pilgrims in 2023, and demand is expected to rise further with government-led development efforts. Overall, FY25 has been a landmark year for EaseMyTrip, marked by strong financial performance, international expansion, domestic reach, and innovative offerings across segments. (ANI)
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Business Standard
5 days ago
- Business
- Business Standard
IPL final pushes hotel rates, occupancy in Ahmedabad and Chandigarh
As the 18th season of the Indian Premier League (IPL) nears its close, it has pushed overall travel demand, airfares, hotel room rates and occupancy in Chandigarh and Ahmedabad, where the last four matches of the season are slated to take place. Overall travel bookings for the entire season of the IPL rose by around 30–35 per cent, surpassing the 20–25 per cent growth in the previous season, according to EaseMyTrip. From Thursday, the main three matches — Qualifier 1 and the Eliminator in Chandigarh, and Qualifier 2 in Ahmedabad — will decide the teams facing off in the final match at the Narendra Modi Stadium, Ahmedabad, on 3 June. Premium stays in these two cities are currently priced between Rs 6,000 and Rs 8,200, while budget options range from Rs 2,200 to Rs 5,200. Hotel room rates have increased by an average of 7–10 per cent, while domestic airfares to both cities are up by about 10 per cent, EaseMyTrip said. It further added that, on average, fares to these cities have risen compared to the same time last year, with match-day bookings up nearly 1.5 times, pushing prices higher, particularly on weekends. Travel and hotel executives collectively agree that the shift of the final match venue from Kolkata to Ahmedabad has resulted in a rise in rebookings, especially for flights and hotels near the Narendra Modi Stadium, and a sudden spike in last-minute bookings. 'The final has become a magnet for cricket tourism, with Ahmedabad witnessing the biggest spike in footfall this season,' said Rikant Pittie, chief executive officer (CEO) and co-founder, EaseMyTrip. On the other hand, Karan Agarwal, director, Cox & Kings, said travel demand for this year's IPL final has definitely picked up compared to last season. Executives reported a surge in bookings near stadiums, with many hotels nearing full occupancy on match days. However, a hotel executive noted that the surge is not significant in Chandigarh, owing to recent geopolitical tensions between India and Pakistan. Tavleen Bhatia, chief marketing and revenue officer, Cleartrip, said hotel rates in Chandigarh remain flat, while Ahmedabad airfares have risen by Rs 1,000. Santosh Kumar, country manager, India, Sri Lanka, Maldives, and Indonesia, said that with excitement building for the IPL finals, the platform has seen a 40 per cent year-on-year increase in searches for Ahmedabad between 29 May and 3 June. 'In Ahmedabad, demand for the 2 and 3 June matches has surged by 35 per cent, with hotel rates rising by 45 per cent compared to the rest of the month,' said Nikhil Sharma, managing director (MD) and chief executive officer (COO), South Asia, Radisson Hotel Group. 'Radisson Blu Ahmedabad is already tracking more than 30 per cent ahead of the usual occupancy pace, highlighting strong momentum leading into the finals.' Radisson Hotels observed a similar trend in Chandigarh. Sharma added that Radisson RED Mohali is operating at full capacity during the Qualifier 1 and Eliminator matches, with other nearby properties close to sold-out levels. Room rates in Chandigarh have jumped by 65–75 per cent. 'There is a great demand in Ahmedabad and almost all hotels see high occupancies,' said Keenan McKenzie, cluster general manager, ITC Narmada. McKenzie emphasised that the city's hospitality industry is poised for another boost through marquee tournaments like the IPL, as Ahmedabad continues to grow in stature as a leading hub for sports tourism. Akshay Thusoo, senior vice-president, commercial, Sarovar Hotels, said that current occupancy in Chandigarh is in the range of 70–75 per cent, with an increase of 3–4 per cent due to Thursday and Friday's matches. 'In Chandigarh, rates have increased by approximately 8–10 per cent, while Ahmedabad has seen a sharper rise of 12–15 per cent. In terms of occupancy, Ahmedabad hotels have experienced a 5–6 per cent uplift on match days, with a higher concentration of bookings from fans, crew, and corporate guests linked to the event,' said Thusoo. Royal Orchid Hotels expected room rates to rise by 70–95 per cent for the remaining IPL matches. Arjun Baljee, president, Royal Orchid Hotels, said that its Regenta hotel in Ahmedabad has observed a surge in business, which is similar to its properties in Chandigarh. 'We find that Regenta hotels in Zirakpur and Mohali become a stopover for guests who want to experience cricket and then do something else — like go to Shimla or even onwards to other destinations in Punjab. On the whole, the hotels sell out on match days with a responsibly managed increase in rate,' Baljee said.
News18
7 days ago
- News18
Off the Beaten Path: Why Second-Tier Hill Stations Are the New Summer Getaways
Last Updated: In 2025, the heart of Indian tourism seems to beat not in the buzz of the big hill stations, but in the calm of second-tier destinations like Jibhi, Tawang, Chakrata, and Coorg. As the mercury rises and urban fatigue peaks, the great Indian summer getaway is undergoing a quiet yet meaningful transformation. Forget the throngs in Shimla or the traffic snarls of Ooty—today's travellers are veering away from the tried and tired. In 2025, the heart of Indian tourism seems to beat not in the buzz of the big hill stations, but in the calm of second-tier destinations like Jibhi, Tawang, Chakrata, and Coorg. A Shift in Summer Sensibilities The pattern is clear: travellers are actively seeking less commercialised, more authentic escapes. According to Rikant Pittie, CEO and Co-founder, EaseMyTrip, 'We're definitely seeing a shift this summer. As the usual hill stations get more crowded, travellers are looking for quieter, less commercialised places to unwind. Second-tier hill stations like Shangarh in Himachal Pradesh, Coorg in Karnataka, Tawang in Arunachal Pradesh, and Meghamalai in Tamil Nadu are drawing attention. These destinations are rich in natural beauty and have much lower footfall." This shift is not just anecdotal—EaseMyTrip's data reveals that nearly 60% of travellers this year are opting for lesser-known destinations over traditional favourites. The trend is driven by a desire for slower, more mindful experiences. 'It's not just about escaping the heat anymore," says Pittie. 'People want slower, more meaningful experiences, and the second-tier destinations offer exactly that." From Crowds to Calm: The Rise of Offbeat Travel Echoing a similar sentiment is Pranav Dangi, CEO and Founder of The Hosteller, who has noticed a tangible shift in traveller behaviour across their properties. 'One of the most prominent changes we've seen is the way people have started travelling compared to previous patterns," he notes. 'Guests are now open to not just locations in the South but also offbeat and lesser-known places in the North for a summer break." The change is visible in booking trends too. While southern hotspots like Goa remain popular, there's a clear uptick in occupancy in North India, especially in offbeat locations like Jibhi, Khajjiar, and Chakrata. Dangi adds, 'Travellers are looking out for locations beyond Goa in the South and Shimla in the North to avoid extensive crowds at accommodations, tourist spots, and transport hubs." Interestingly, this shift is not limited to Gen Z backpackers. Millennials, often balancing work and wanderlust, are also flocking to quieter corners of the country. Weekday bookings have risen, indicating a new kind of mindful, crowd-conscious travel. 'This in itself is a direction toward mindful travelling," Dangi observes, 'instead of rushing to the same famous locations and the same weekends when everyone would be too." Conscious Choices and Authenticity Beyond escaping crowds, there's a philosophical turn in how people travel. Rikant Pittie points to the rise of conscious travel, where authenticity matters more than popularity. Today's travellers are rejecting cookie-cutter itineraries in favour of immersive experiences—whether that's sipping filter coffee in a Coorg homestay or hiking through the misty trails of Shangarh. 'There's a growing shift toward conscious travel," Pittie says. 'Travellers are now choosing calm over chaos, and these hidden gems are meeting that need perfectly." What's Next? Both hospitality brands and booking platforms are evolving to meet this demand. From community-based stays in Fort Kochi and Wayanad to digital-nomad-friendly hostels in Kasol and Chakrata, second-tier destinations are stepping into the spotlight. And while there may be no single pattern to this shift, as Dangi puts it, 'Travellers are now open to newer and more offbeat locations." Whether it's for the affordability, the authenticity, or simply the quiet, this new wave of Indian travel is as refreshing as the mountain breeze in these hidden havens. First Published: May 28, 2025, 12:41 IST
India.com
15-05-2025
- Business
- India.com
Boycott Turkey trends! THESE items likely to become expensive if India ends ties with Turkey, Check full list here
New Delhi: To mark their protest against Turkey and Azerbaijan for supporting Pakistan during Operation Sindoor, Indians are calling off their trips to these countries, according to two travel agencies cited by news agency Reuters. It is important to note that the calls to boycott Turkey and Azerbaijan grew in India after both countries publicly supported Pakistan amid rising tensions following Operation Sindoor and the April 22 terror attack in Pahalgam. 'Bookings for Azerbaijan and Turkey decreasing by 60 percent (over the last week) while cancellations have surged by 250% during the same period,' Reuters quoted a spokesperson for MakeMyTrip, as saying. EaseMyTrip's Chief Executive Officer, Rikant Pittie shared a similar development saying, travellers had switched to Georgia, Serbia, Greece, Thailand and Vietnam. 'EaseMyTrip had seen a 22 percent rise in cancellations for Turkey and 30 percent for Azerbaijan due to recent geopolitical tensions,' he added. Ixigo earlier took to social media and said that it is pausing flight and hotel bookings to Turkey, Azerbaijan, and China. EaseMyTrip founder and chairman Nishant Pitti also posted on 'X', noting that 287,000 Indians travelled to Turkey and 243,000 to Azerbaijan last year. 'When these nations openly support Pakistan, should we fuel their tourism and their economies?' Pitti said. If trade between the two countries comes to a halt, the prices of many items in India could rise: Traders have first decided to stop purchasing apples and marble from Turkey It is important to note that 70 percent of imported marble and 1.29 lakh tonnes of apples in India come from Turkey, which will have a significant impact on trade. Turkey exports carpets, decorative items, furniture, silk, linen, olive oil, cherries, dried fruits, spices, herbal drinks, industrial machinery, and agricultural equipment to India. Turkish dishes such as Kunafa, Turkish kebabs, and Shawarma are highly popular in India. The popularity of the Turkish dessert called Kunafa has spread in India due to social media In Delhi's Shaheen Bagh, dishes like 'Turkish Tea', Kunafa, and Kebab are very popular. Subhash Goyal, Chairman of the Tourism Committee at the Indian Chamber of Commerce, said the industry stands for ethical and responsible tourism that aligns with national values. 'Several tourism associations and industry bodies have issued statements of solidarity and collective commitment towards prioritising our national interest over commercial goals. The Indian Chamber of Commerce joins these organisations in demanding a boycott of states like Turkey and Azerbaijan, following their stand against India's response to terrorism. Tourism is a force for good and a driver of peace, global harmony and international understanding,' Goyal said.
Business Recorder
15-05-2025
- Business
- Business Recorder
Indian travel firms report drop in Turkiye bookings over Pakistan support
BENGALURU: Indians are cancelling holidays in popular resorts in Turkiye and Azerbaijan after the countries supported Pakistan during its recent conflict with New Delhi, two booking firms said. Ties between Pakistan and India nosedived after a deadly attack in Indian Illegally Occupied Jammu and Kashmir (IIOJK) last month that New Delhi said was backed by Islamabad. Pakistan denied involvement, but intense fighting broke out when India struck what it said were 'terrorist camps' in Pakistan last week. They agreed a ceasefire on Saturday which has largely held. Turkiye and Azerbaijan, popular budget holiday destinations for Indians, issued statements backing Islamabad after India's strikes. 'Bookings for Azerbaijan and Turkiye decreasing by 60% (over the last week) while cancellations have surged by 250% during the same period,' a spokesperson for MakeMyTrip said. India blocks Turkish broadcaster TRT World's X account EaseMyTrip's Chief Executive Officer, Rikant Pittie, said the platform had seen a 22% rise in cancellations for Turkiye and 30% for Azerbaijan 'due to recent geopolitical tensions'. Travellers had switched to Georgia, Serbia, Greece, Thailand and Vietnam, he added. Another ticketing platform, ixigo, earlier said in a post on X that it would be suspending flight and hotel bookings for Turkiye, Azerbaijan and China. EaseMyTrip's founder and chairman Nishant Pitti said in a post on X that 287,000 Indians visited Turkey last year and 243,000 visited Azerbaijan. 'When these nations openly support Pakistan, should we fuel their tourism and their economies?' Pitti said.
