Company Profiles: MakeMyTrip
Company Profiles: MakeMyTrip
Skift Take
Report Overview
MakeMyTrip is India’s leading online travel agency (OTA), with more than 50% share of the Indian market. It was founded in 2000, primarily to service demand for US–India inbound air tickets. Since then, MakeMyTrip has expanded into selling hotels (through its 2017 acquisition of Goibibo, a hotel and travel-package booking platform), package holidays, bus and rail tickets (through its sub-brand RedBus, which was part of the Goibibo acquisition), and experiences.
Air tickets remain MakeMyTrip’s largest business segment, accounting for 62% of gross bookings, although management intends to shift its business mix toward divisions that yield higher margins, such as hotels and package holidays. MakeMyTrip also plans to expand further into new geographical markets, particularly the Middle East, which has a significant non-resident Indian population.
The past three years have seen significant growth for the company, including rapid margin expansion from 8% in fiscal year 2022 to 16% in 2024.
MakeMyTrip publicly listed its shares on the Nasdaq stock exchange in the U.S. in 2010. In 2024, its shares rose more than 150%, materially outperforming all other major global online travel agencies and comparison indexes.
This chartbook features nearly 40 charts on MakeMyTrip’s financials and comparison with peers, providing a succinct but comprehensive overview of the Indian OTA market. This report also includes an analysis of Google Hotels in India. Based on a proprietary web scrape of Google’s sponsored and organic results on more than 600 hotel listings in India, we show how MakeMyTrip and its peers invest in advertising spending on Google.
What You'll Learn From This Report
- Overview and market share breakdown of India's OTA market
- MakeMyTrip's key performance indicators
- Comparison of MakeMyTrip's financials with its peers
- Skift Research analysis of Google Hotels in India, based on a proprietary web scrape of more than 600 hotels listing on Google
- Analysis of MakeMyTrip's marketing spend vs peers
- MakeMyTrip's share price and valuation vs peers
