Online Travel Industry And Online Travel Agency Tourism Essay

Online excursion Industry And Online act commission Tourism EssayIn Europe, consumers typic eithery guide at to the lowest degree 4 weeks of pass time annu eachy compargond to entirely 1 or 2 weeks for the average Ameri screw that spells multiple faux pass booked each year. It should keep up as no surp intensify then that online motivate maturement order remain far higher everyplaceseas And then theres Asia. Fifteen age ago, few consumers in India and China could afford to go away outside their mansion nations. But conveys to a rising middle-class consumer, Asians are increasingly propeling both domestic eachy and abroad. In fact, according to the China cursory pertlyspaper, inter internal proceed has grown more than 50-fold in the past ii decades.Rapid growth in the online last business has jocked fuel weighty sales gains for a handful of online operate companies. But thats only one-half the story online incite web sets are standardisedwise far more economic than handed-down offline travel agency operations. The case is simple scalability. Specifically, when a traditional travel agency wishes to expand, it has to hire more agents. Mean spot, expanding abroad requires setting up a local office with agents speaking the local language, and that type of stem hind remnant force back expensive.But in the online world, once a website is intentional and set up, it can handle a tremendous number of users. outgrowth in sales does not necessarily require commensurate growth in the labor force a handful of website designers and technicians can railroad carry the site regardless of the number of customers served. This scalability is behind the fat profit margins enjoyed by online travel firms.Travel and tourism are among the biggest industries universal, and more than 80 portion of the travel interchange in the United States is now purchased online. With more consumers apply the Internet to plan their vacation getaways, onli ne travel agencies have been growth in popularity, helping to increase business in the travel exertion overall. divagation from booking travel packages, m any travelers go online in search of travel reviews in the first place making a final decision about their choices. Reports channelise that more travelers who have traditionally booked charges offline are checking out vacation destinations, as well as travel and hotel rate, online.India ContextThe Indian ScenarioThe online travel market in India has witnessed tremendous growth and is attracting large number of national and international players. undercover equity players have made huge investments in the online travel agency (OTA) segment in the past few years. slightly facts Total just the tickets available for sale (Only Domestic) per day are 275,680Total ticket Sold by all OTAs per day = 51,690Market size for Indian OTA Industry in Domestic Flights 9000 crores approximatelyNearly 40% of the tickets sold are through OT A.On an average, all gloriolecraft in India does 5.6 safety valves per dayIf furrowlines could make headway manage route optimization and do 1 more flight per day, at 6.6 flights per day, OTA Industry Sales leave be up by 15%The first online portal for India was Indiatimes.com launched in the year 2002. Subsequently the by-line companies joined the bandwagon.Indiatimes 2002Make my Trip.com 2005Yatra.com 2006Travel Guru 2006In the pages that follow we pull up stakes explore on one of the round conquestful family in India in this Industry which is Make my trip.com.About the company and the respective concepts, impact, futureNurtured from the reference of a virtuoso commodious idea to empower the traveller MakeMyTrip went on to pioneer the entire online travel constancy in India. MakeMyTrip has revolutionised the travel industry over the years. This is the story of MakeMyTrip, Indias Online Travel Leader.MakeMyTrip.com, Indias leading online travel company was found ed in the year 2000 by plenteous Kalra. Created to empower the Indian traveller with glaring booking and omnibus(prenominal) choices, the company began its journey in the US-India travel market. It aimed to conjure a swan of best-value increases and services along with cutting-edge techno lumbery and consecrated round-the-clock customer support.After consolidating its position in the market as a brand recognised for its reliability and transparency, MakeMyTrip followed its success in the US by launching its India operations in 2005.With the foresight to seize the opportunities in the domestic travel market, brought on by a slew of new production linelines, MakeMyTrip offered travellers the convenience of online travel bookings at rock-bottom prices. Rapidly, MakeMyTrip became the preferred choice of millions of travellers who were rapturous to be empowered by a few mouse clicksMakeMyTrips pilfer has been lead by the tidy sum and the spirit of each one of its employees, fo r whom no idea was to a fault big and no problem too difficult.With industrious innovation and determination, MakeMyTrip proactively began to diversify its product offering, adding a variety of online and offline products and services. MakeMyTrip also stayed in the lead of the frizzle by continually evolving its technology to meet the ever changing demands of the rapidly developing global travel market.Steadily establishing itself crossways India and the world, MakeMyTrip at the same time nurtured the growth of its offline businesses like its franchises and affiliates simultaneously, augmenting the brands already strong retail presence further.Today, MakeMyTrip is more than more than just a travel portal or a famous pioneering brand it is a one-stop-travel-shop that offers the broadest selection of travel products and services in India. MakeMyTrip is the undisputed online leader, with its share of the travel market extending to more than 50% of all online sales, a fact evinc ed by the boldness placed in it by millions of happy customers.Remaining reliable, efficient and at the forefront of technology, MakeMyTrips commitment and customer-centricity allows it to break in understand and bear for its customers divers(prenominal) needs and wants, and deliver consistently. With dedicated 247 customer support and offices in 20 cities across India and 2 international offices in New York and San Francisco (in addition to several franchise locations), MakeMyTrip is there for you, whenever and wherever.MakeMyTrip Limited, the parent company of MakeMyTrip (India) Private Limited and MakeMyTrip.com Inc., Indias largest online travel company1, today announced that it has priced its initial humanity offering of 5,000,000 ordinary shares at a price of USD14per share. The companys ordinary shares allow for begin trading on the NASDAQ Global Market on 12 Aug 2010 under the symbol MMYT.The companys services and products include air tickets, customized holiday packag es, hotel booking, railroad track tickets, bus tickets, car hire and facilitating access to travel insurance policy. Through its primordial website, www.makemytrip.com, and other technology- enhanced platforms, the company supports access to all study domestic full-service and low-cost airlines operating in India, all major airlines operating to and from India, over 4,000 hotels in India and a roomy selection of hotels outside India, Indian railway systems and several major Indian bus operatorMakemytrip.coms three-month global Alexa traffic rank is 1,823. Visitors to the site spend roughly 51 seconds on each pageview and a amount of money of three minutes on the site during each visit. It is located in India. Approximately 43% of visits to the site are bounces (one pageview only). Makemytrip.com has been online for more than ten years.MakeMyTrips Products multinational and Domestic nisus Tickets, Holiday Packages and HotelsDomestic Bus and Rail TicketsPrivate Car and Taxi R entalsMICE (Meetings, Incentives, Conferences Exhibitions)B2B and Affiliate ServicesManagementA adolescent company that has quickly become the leading travel service provider in India and the some trusted name in the industry, MakeMyTrips spectacular success is in no small p machination due to the unblinking vision of its senior management team and the dedication of its employees. MakeMyTrip employs over 700 Trippers from the travel, tourism, hospitality and technology industries.Deep Kalra bring out Chief Executive military officerMohit GuptaChief Marketing ships officerRajnish KapurChief world OfficerMukesh SinghSenior Vice chairwoman Technology DevelopmentAnand KandadaiSenior Vice chairperson Outbound ToursKeyur JoshiCo-Founder Chief Operating OfficerRajesh MagowCo-Founder Chief Financial OfficerAmit SomaniChief Products OfficerAmit SaberwalSenior Vice chairman Retail and Business DevelopmentRohit HasteerVice President Human ResourcesSummaryNameAgeSinceCurrent Posi tionKalra, Deep41Chairman of the Board, Chief Executive OfficerMagow, Rajesh41 assemblage Chief Financial OfficerSingh, Mukesh342009Senior Vice President Technology DepartmentJoshi, Keyur37 ag concourse Chief Operating OfficerGupta, Mohit36Group Chief Marketing OfficerSomani, Amit382010Group Chief Products OfficerAdusumalli, Ravi342005 directorAggarwal, Sanjeev502006DirectorGuleri, Aditya452007DirectorWolf, Philip542005DirectorGowrea, Gyaneshwarnath442009DirectorJanally, Mohammad272009DirectorGour, Vivek472010Independent DirectorLalonde, Frederic372006Independent DirectorMakeMyTrip setWe, at MakeMyTrip, abide by our companys core values in our every endeavour. It is these values that have squandern us where we have been and go forth take us where we are going honesty We essential strive for worth in whatever we do. management on continuous improvement in interactions with people, efficiency of fulfiles, and the wellbeing of the organization.Customer Centricity We must maint ain focus on our customers, both internal external, by giving them priority. Strive to exit their expectations in hurt of the value and step delivered.Integrity We must en authentic consistency between our words and actions, always delivering what we commit. We can thereby maintain transparency, trust and accountability.Accountability We must feel responsible and accountable for the commitments we make and the quality of the results we deliver to all our stakeholders.Innovation We must continually apply intelligence, reason and technology to our work and environment. This lead allow us to take informed risks and champion new ideas to improve our business as well as the community.TeamworkWe must foster an environment wherein we can efficiently utilise the abilities of all team members to achieve cultures. We should work on the premise that the whole is great than the sum of the parts.emailprotected We must create and maintain an atmosphere of fun while at work, making work a happy place we can all look forward to.EmpowermentWe must give bronco buster colleagues the opportunity and freedom to think and act in ways that will allow them to get the job done, and yet be consistent with the military operationes laid down.Passion for Winning We must have a can do attitude, not take no for an answer and believe that nothing is impossible. This will allow us to work relentlessly toward achieving our goals and honouring our commitments.Respect for People We must give everyone, with whom we interact, respect and consideration. swags RecognitionNot without reason, MakeMyTrip has garnered the trust of over ii million satisfied customers as well as the respect and approbation of the entire travel industry and business world.Travel Business with child(p) Places To Work 2010 2nd outdo Company to Work for 1 in victor ServicesSuperbrand India 2009-10Great Places To Work 2009 2 in Professional ServicesBest Travel Website CNBC Awaaz 2008-09Most Visited Tr avel Website comScore 2005-09Most favourite(a) Online Travel Agency Travel Biz Monitor Survey 2008 cast One Online Travel Agency JuxtConsult 2008Gold and Silver Abby Award 2007-08Among the earn disco biscuit Websites visited by Indians comScore 2007Nominated World Travel Awards WTA 2007Among 100 IT Innovators NASSCOM 2007Best Online Travel Company Galileo Express Travel World 2007Emerging India Award ICICI Bank CNBC TV18 2006Asias Hottest Technology Startup Red Herring 2006 shipline business line Canada Outstanding operation 2008Singapore Airlines Top Passenger Agent 2007-08British Airways Outstanding R steady offue Contribution 2007-08Air Mauritius All India Top Ten Agent//Top North India Sales Award 2006-07//2007-08Cathay Pacific Outstanding Performance 2007Malaysia Airlines Top Agent Award 2007Lufthansa Outstanding Performance 2006-07Kingfisher Airlines Outstanding Performance 2006-07Indian Airlines Achieving Highest Domestic Passenger Sales 2006-07Air India Outstanding Contribution to Passenger Sales 2005-06 honey oil Airways Award of Excellence 2005-06Gulf Air Continuous SupportImpactThere was a time when Indian families would plan their annual trip six months in overture, after spending long, sweaty hours queuing up in front of ticket booths. It sure wasnt easy.But in 2005, Deep Kalra, chief executive officer and founder of MakeMyTrip.com, changed all that. He brought the concept of Online Travel Agents (OTA) to India and revolutionized the way the Indian middle class travels and plans their vacation.Today, the rise of Internet credibility coupled with falling rates of air travel has helped OTAs catapult to glorious success. And with a turnover of Rs 2,200 crore, MakeMyTrip.com has been a pioneer in the OTA success story. With over 50 percent market share, its the single some recognized and trusted player in the OTA industry.FutureFUTURE Focus on Advertising StrategyAim of MMT is to establish the bran d. The focus is not just to provide barefaced tickets. Advertising helps in getting your substance across to the organise audience more effectively. And with more and more players accounting entry the segment, it is necessary to labor to ensure you have captured sufficient mind-share. Again, the product basketball hoop that MMT offer is ripening and our customers have to be updated accordingly.Expansion of Capacity MMT is hard to expand capacity with caution, especially because the sector is capex hungry for the suppliers. We, at MakeMyTrip, have learnt that our suppliers are very important. Unless we make sure our suppliers business is profitable, we wont be profitable.Revenue breakup between MMT businessesBetween hotel and air, air captures a oft higher percentage two-thirds of MMT business. But other product lines are growing unshakable, especially hotels and buses. The endeavor is to reduce reliance on a single line of business. tour MMT lead the sector in terms o f air tickets, MMT are forever focvictimization on non-air products to increase their share of gross as well.competing playersTravelguru A revolutionary online travel solutions destination, Travel Guru India has set the benchmark in the industry. With our low-priced plane tickets and air tickets reservations, our travel gurus offer the most economical solution for every travel need. The travel guru mantra is based on the concept of making air tickets reservations an easy and quick process for every traveller. With the help of travel gurus, travellers can access the best fares for Travel Guru India and Travel Guru international holidays, business trips and corporate travel. The Travel Guru signature services stock warrant a trip of a lifetime to any destination in India or across the globeA trendsetter in the travel industry travel guru com offers the benefits of safe, comfortable and convenient travel at affordable fares. At travel guru com travellers can book affordable plane t ickets and make domestic and international air tickets reservations. The travel gurus can also assist you with selecting a luxurious hotel to complement the travel guru air booking service. Just log on to travel guru com to book affordable plane tickets and hotel rooms for worldwide destinations. Get all the benefits of the travel guru services with just the click of a mouseWith Travel Guru India and Travel Guru international have a range of unmatched services at your fingertips. The Travel Guru services includeAir ticket Booking Travellers can search for, compare prices and book affordable plane tickets for their chosen sectors of travel at the website. You have a comprehensive choice of airlines for low-cost, affordable plane tickets as well as for full-service airlines. at one time youve made your selection just click for any air tickets reservations. issue the rest to the travel gurus and get set to take off into the skies.Hotel Reservations musical composition on holiday com e home to a luxurious hotel, at affordable rates. Travel Guru offers include domestic and international hotels at discounted rates with no compromise on quality, services and comfort. Take your pick from the wide selection of premium hotels that include Travel Guru India and Travel Guru International options and get your Travel Guru booking in an instantYatra-Yatra Holiday Lounge is a premium, one-stop-shop for all your travel needs. Located at a convenient show within your city, the Yatra Lounge is where customers can walk in and plan their travel in privacy and comfort.When you visit a Lounge, a trained Yatra Travel Experts assists you with all aspects of your travel booking flight tickets, hotels, cars, buses or holidays. We can even assist you with travel insurance and visa processing. The Yatra Travel Experts can also help you create customized holiday packages.The Holiday Lounges are open from 1000 am to 700 pm, Monday to Saturday.Cleartrip-MyTripYatra is dedicated to help cu stomers to build their clear trip and cruise along with their Yatra to nirvana. As our name suggests Yatra we extend our services to provide facility for convenience of our clients to choose gamut of services like barefaced air tickets on air Deccan, jet airways, Indian airlines, spice jet airlines, and air India. My Trip Yatra is a unique concept of taking offers from mixed online travel agents like makemytrip.com, cleartrip.com, yatra.com, travelguru.com to their customers. There are online discounts with cheap flights and hotels across the globe. Here you are free to see cheap fares, discount on airlines, offers on hotel bookings, holidays, at affordable prices for your yatra. For Cheap Air travel trip or mean Goa holidays, or looking a hotel in Goa, our way of make my trip endows you the chance to make your own cleartrip. We will add cheap hotels across the country and keep on adding different destinations like cheap flights from Delhi to Mumbai, cheap flights from Mumbai to D elhi starting from 500 Indian Rupees.Coimbtaore FlightsAizawl FlightsColombo flightsIn order to spread travel of My Trip Yatra, we have affiliated ourselves with Yatra.com, one of the leading travel agents of India. Yatra.com provides cheap flights of Air Deccan, Indigo airlines, Spicejet airlines, Jet airways, Kingfisher airlines, paramount airways, go air, jetlite airline (formerly cognize as air Sahara airlines). Yatra.com provides unique features of At Yatra, we pay for your flights delay offers, thank you coupon code worth RS 250 if you book again with Yatra.com, various property back offers with ICICI bank, Master Card, etc.Yatra.com also provides Yatra miles a proprietary product to redeem those miles against discount on cheap flights, cheap hotels, holidays and other packages such as Honeymoon packages, adventure packages. Yatra.com has been funded by Network 18 group that operates online websites like Moneycontrol.com, storeguru.com, buzz18.com, josh18.com, ibnlive.com , indiwo.com etc. It has also been funded by Reliance Anil Dhirubhai Ambani group. We are proud to be an affiliate of Yatra online Pvt. Ltd. Yatra online has given us platform to abet their products online. Yatra online makes seamless transaction of products like flights, hotels, holidays, Buses, and cars. Yatra online thru its website Yatra.com makes a perfect partner to any online travel agent.Cleartrip is post-mortem travel company of India that offers exclusive facility to travelers in planning of your trip. You can plan your holiday or business trips with Cleartrip and you will get many advantages over other travel planners.Cleartrip provides many benefits to travelers such as expediency, various options for booking, great competitive prices and in-depth details of many travel options, destinations and support. You can book flights, hotels, train tickets, complete holiday packages, travel insurance and much more from Cleartrip. Cleartrip provides booking facility for over 5,5 00 domestic hotels and around 109,000 international hotels.Clear Trip was launched on 4 July, 2006 and within a span of 4 years it has established itself as a premier travel planner company. Cleartrip start providing SMS based ticketing service that allows you to book tickets using mobile anticipates. From 2008, clear trip also started providing rail tickets in India with cooperation with IRCTC (Indian Railway Catering and Tourism Corporation).Clear Trip has won many awards for its great services. It was given best travel website award in 2006 and 2007 consecutively. Clear trip is known as Google of Travel Websites as it provides tons of useful culture about travel sector. In 2007 it also won the prize of most user friendly website of travel sector. Since its inception in 2006, Cleartrip has become a market leader in travel sector for providing simplest and most diverse travel planning options and best deals. You can get higher discounts on flight tickets if you choose Clear trip as your travel planner. getting travel and tourism information had never been so easy earlier Cleartrip. You can find every specific detail about all cities in India along with travel options available, hotel available in that city, flight services, car rental services and main tourist attractions in that city.Online flight ticket booking is very easy with Clear trip services. You can just feed the departure and arrival destinations and timings and its internal search engine will provide you a detailed list of all flights available for your journey. You can easily compare flights of different service providers such as Jet Airways, GoAir, kingfisher, Air India and many more. If you are booking your tickets well in advance then you can also get many Cleartrip offers that will help you to save huge money on your travel.Cleartrip started its operation with a goal of making journey planning easier and hassle free and with its state of the art services it has surely achieved its goal and continue to growing with a fast pace.use the company balance sheet 3 yearsfor the references and figures figures could be sales volume, business volume, market penetration, product mix, pricing of the product over the years v/s competitionCustomer Profile end users who are they- customer opinionIn a cut-throat industry like OTA, how do you maintain competitive advantage?Deep Kalra, Founder chief operating officerCreating an experience for the customer is very important. Every OTA player today is cerebrate on providing more value for the customers time and money.The focus this year for MakeMyTrip is to come upon beyond customer satisfaction and towards creating customer delight. Also, we take pride in our customer relations we have customer testimonials that speak very super of our customer care executives.Being ahead on the technology curve is what gives us an edge. Its very important to keep on upgrading and reinventing new processes to enhance customer experience.Whats beh ind your advertising strategy?Deep Kalra, Founder CEOIts very important to establish the brand. For us, the focus is not just to provide cheap tickets. Advertising helps in getting your message across to the target audience more effectively. And with more and more players entering the segment, it is necessary to advertise to ensure you have captured sufficient mind-share. Again, the product basket that we offer is growing and our customers have to be updated accordingly.Whats the revenue breakup between your businesses?Deep Kalra, Founder CEOBetween hotel and air, air captures a much higher percentage two-thirds of our business. But other product lines are growing fast, especially hotels and buses. The effort is to reduce reliance on a single line of business. While we lead the sector in terms of air tickets, we are continuously focusing on non-air products to increase their share of revenue as well. reproachSome customers complain about Makemytrip not giving the complete terms of ticket (baggage allowed, flexibility to change date of travel or scrape up the ticket) before booking the ticket. Some complain about false promises before booking the ticket. They warn potential customers to get the terms of the ticket in writing or email before going ahead with the phone booking. Refunds to credit cards are sometimes delayed. It is believed that calls to customer care in case of booked tickets is low priority in call queues compared to calls to bargain tickets. There is undue delay in getting service in case of getting help on already booked ticket. The escalation process in case of complaints is not published on their website. Estimated waiting geological period or the position in the call queue is not announced. otherwise customers have warned that the websites Believe It Or Not promotion is indeed too good to be true. While MakeMyTrip promises you free domestic air travel once youve arrived in Inda, all such air travel must be booked 21 days in advance of the trip. And even if you attempt to arrange it that far in advance,Make My Tripmakes this process very difficult, if not impossible. You will be booked on all-night flights, trips that should take three hours will wind up taking two days, and in some cases you will wind up paying taxes and fees that exceed the actual cost of the ticket, had you booked it yourself.Customer OpinionAs per various feeback posted on the website following is the broad feeback given The call bosom agents are well trained and they know their jobPhone / portion Menu is customer friendlyQuick Customer responses where required on email