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MakeMyTrip to acquire majority stake in Flamingo Transworld

EntrackrEntrackr · 28d ago
MakeMyTrip to acquire majority stake in Flamingo Transworld
Medial

MakeMyTrip to acquire majority stake in Flamingo Transworld MakeMyTrip has entered into an agreement to acquire a majority stake in regional tour operator Flamingo Transworld, for an undisclosed amount. Founded over three decades ago, Flamingo Transworld operates group tour services and has built a presence in regional markets including Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh. The company sells international and domestic group travel packages through a network of 51 offices across these regions. Flamingo’s offerings will complement its existing holiday packages business and help expand its presence in regional travel markets across India. Flamingo’s curated group tours include features such as regional-language tour managers and Indian meal options for travelers. The acquisition is part of MakeMyTrip’s strategy to strengthen its holiday packages segment and deepen distribution across offline and regional channels. The company operates travel platforms including Goibibo and redBus. In recent years, MakeMyTrip has expanded its travel ecosystem through acquisitions such as QuestToTravel in corporate travel bookings, Simplotel in hotel technology, BookMyForex in travel forex, Savaari in intercity mobility, and Happay in corporate spend management.

MakeMyTrip eyes India listing to tap domestic capital markets

EntrackrEntrackr · 16d ago
MakeMyTrip eyes India listing to tap domestic capital markets
Medial

MakeMyTrip, a travel platform listed on NASDAQ, is considering an initial public offering (IPO) for its India operations. This strategic listing would allow the company to tap into domestic capital markets and strengthen its position in India. This represents the Gurugram-based company’s second attempt to list in India in the past five years. The decision to list in India comes at a time when MakeMyTrip’s market cap has dropped from $10 billion to $4.5 billion over the past six months. Analysts say that weaker demand in specific travel segments, along with broader industry challenges, led MakeMyTrip to miss its revenue estimates and push its stock to a 52-week low. According to a company press release, the firm is exploring a potential listing of MakeMyTrip India, the entity that owns its key brands and operations in the country. It recently completed an internal restructuring by merging RedBus India into MakeMyTrip (India) Private Limited which consolidated its core India businesses under a single entity. The announcement was part of a larger update where MakeMyTrip confirmed its commitment to becoming the leader in India's travel market by investing, buying other companies, and improving technology. The company expects the move to enable the use of India-listed equity as consideration for future growth initiatives. The firm recently acquired a majority stake in group tour operator Flamingo Transworld and made a strategic minority investment in visa processing platform Atlys to expand its travel ecosystem. The Rajesh Magao-led firm also attempted to list in India shortly after Covid (2021–2022). However, it could not proceed due to challenging market conditions, when its peer Ixigo also deferred its listing plans. On the financial side, MakeMyTrip’s operating revenue increased by 11% to $295.7 million in Q3 FY26 from $267 million in Q3 FY25, while its profit decreased by 74% to $7 million in the same period.

Ixigo takes on MMT with trip guarantee feature for train travelers

EntrackrEntrackr · 1y ago
Ixigo takes on MMT with trip guarantee feature for train travelers
Medial

Full-stack online travel aggregator (OTA) Ixigo has launched a travel guarantee feature for train travelers, positioning itself as a direct competitor to its arch-rival, MakeMyTrip. The Gurugram-based company claims that its new feature provides a 3X refund (1X ticket refund and 2X wallet refund) if a traveler’s waitlisted PNR fails to confirm. This feature also allows passengers to explore and book alternative last-minute travel options, with the added benefit of higher monetary compensation for unconfirmed train tickets. According to Ixigo, this initiative aims to tackle the challenges of long waitlists during peak travel periods while protecting passengers from last-minute fare hikes. 'This not only provides greater financial value but also empowers travelers to rebook their journey through alternate travel options without having to worry about last-minute fare hikes. With this initiative, we aim to make train travel more reliable, convenient, and worry-free for everyone,' said Dinesh Kumar Kotha, CEO of Ixigo Trains in a stock exchange filing. MakeMyTrip introduced a similar feature in 2021, offering 3X refunds under the scheme. The new feature is expected to resonate well with Ixigo users, as the company dominates the train-booking space, generating 53% (Rs 110 crore) of its revenue from train bookings last quarter. Ixigo reported total revenue of Rs 206 crore and a PAT of Rs 13 crore in Q2 FY25. In comparison, India's largest OTA, MakeMyTrip, reported Rs 1,772 crore in revenue for Q2 FY25 but did not provide a detailed income breakdown for train bookings.

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