Gurugram based Online travelling booking company Makemytrip is eyeing a larger share in the market of corporate travel
Recently, the firm acquired Quest2travel a Mumbai based company that caters to corporate travel for a yet undisclosed amount.
Apart from this, MMT already caters to the travel for small and medium businesses via their app “myBiz”.
India’s business travel expenditure is currently increasing at a steady rate of 11.4%. This is the highest in the world. Thus, Gurugram based Online travelling booking company Makemytrip is eyeing a larger share in the market of corporate travel. They are making strategic acquisitions for the same. Recently, the firm acquired Quest2travel a Mumbai based company that caters to corporate travel for a yet undisclosed amount.
Apart from this, MMT already caters to the travel for small and medium businesses via their app “myBiz”. Using Quest2travel, the company will provide travel solutions to larger co-operations. This app has witnessed a growth of 50% per quarter for the last 7 quarters.
Commenting on this acquisition, Raj Rishi Singh, MMT’s chief business officer said, this partnership will help MMT to find a firm foothold in the business travel sector.
The company now has separate offerings for small, medium and large businesses as the requirements for all these companies vary due to their size. Thereby the products in each category will be different as well. The company is all set to grab a larger market share in the sector using their offerings.
MMT is looking to increase its offerings on the Quest2travel site. The site’s clientele includes big names like HDFC, Aditya Birla group, Tata Motors and many more.
Currently, the site offers its users flight bookings, inventory listing and guest house bookings. Post its acquisition by Makemytrip, all the travel portal’s hotels will also be included in the Quest2travel’s inventory. Apart from this, the site also offers services like approving an employee’s travel requests, online booking that will be in limits with the corporate policies, expense managements, generating invoices, final settlements and reimbursements.
On this acquisition the CEO of Q2T, Abhay Rangnekar said, this investment of MMT in them has consolidated that they are currently the best in business. He further said that this partnership will be mutually beneficial as it combines features of best in corporate travel with the leader in the non-business travel sector. This partnership will also enable Q2T to offer superior services with a larger inventory and better prices for hotel, air bookings and other services.
The site will soon start its cab services as well. Right now these services are provided by third party companies. They intend to become a one-stop destination for all the travel needs of their customers.
The current business travel market in India is fragmented and cluttered. A Handful of organizations contribute to over 30% of it. Now the market is growing due to new organized players entering it. These organized players will help bring transparent rates as well offer a larger variety of choices. The Billing system will also be introduced to help with GST savings.
Apart from business travel, MMT is the market leader in non-corporate travel and offers a wide variety of services like domestic and international flight bookings, 61,500 domestic accommodations and more than 500,000 accommodations overseas.
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