As per the recently-released independent report by Millward Brown on hotel bookings in India, MakeMyTrip, has emerged as the clear leader with the largest market share among all Online Travel Agents (OTAs). The company led the pack with a 25% market share in the segment.
The hotels segment in India is underpenetrated and highly fragmented. Domestic standalone hotel transactions booked via mobile grew at an astounding 403% annually. Bookings through mobile devices was the key growth driver. The company had 61% market in standalone India hotel bookings made on mobile devices.
Speaking about this, Rajesh Magow, CEO-India, MakeMyTrip said, “The online hotel booking category is witnessing great customer traction and is being propelled by smartphone penetration, affordability and choice. As market leaders, the onus of category creation is on us. The report by Millward Brown shares useful insights about this segment which will help players sharpen their approach in this segment. We have been making aggressive efforts to strengthen our presence in the hotel booking segment and it is heartening to see that of the 18% market share contributed by OTAs in this segment, we emerged as clear leaders commanding a quarter of the market share. The Strategic Investment from Ctrip will further enable us to move to the next stage of hyper growth as we seek to unlock new opportunities in the online travel category.”
The highlights of the report with regards to MakeMyTrip are:
- Within OTAs, MakeMyTrip holds a quarter of the hotel bookings market share with close to 6 (5.66) percentage points lead over the closest competitor.
- MakeMyTrip was the no.1 OTA across all star categories with a significant lead of 8 percentage points specifically in 4/5 star hotels category over the closest competitor.
- MakeMyTrip enjoys the highest salience and recall among hoteliers. 87% of the hoteliers participating in the research recalled MakeyMyTrip when asked to spontaneously name OTA brands
- Among those who were aware of the company, 95% were also registered with it.
The industry highlights are:
- Hotel Bookings through online channels is growing phenomenally and as per the report, online channels contributed to 25% of the overall hotel bookings in India – split 18% for OTAs & 7% for Supplier Direct Websites
- Close to 72% of the hotel bookings were made in advance indicating that consumers are now planning their travel in advance.
- Amongst OTAs, Make My Trip has 25.0% share in the Online Hotels market
Enjoyed reading through this, very good stuff, thankyou .
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