Onboard With Yatra
With the travel industry growing manifolds in the recent years, we got talking to Mr. Manish Amin, Co-founder and CIO, Yatra.com about the brand, India as a travel destination and a lot more…
Hello, Manish. What is it that makes Yatra.com different from other travel booking platforms?
Becoming the most trusted OTA in the Economic Times Brand Equity Survey for the 2nd year in succession is testimony to the overall consumer confidence in the brand. Our continuous efforts at consumer engagement and consistent service delivery led to 75 per cent of transactions in FY2017 coming from repeat customers.
At Yatra we are constantly thinking of new and innovative ideas to make user interface simple and convenient. We have always been at the forefront of technology innovation in the online travel space. The addition of voice search in our website and app, introduction of UPI on website and integration with True caller etc. is in line with our endeavour to improve user experience and create happy travellers. We also make sure to have the right associations by aligning ourselves with well-known and reputed entities in the industry. Our quality products and services are easily accessible and affordable and we constantly innovate and use superior technologies to provide superior experience to our customers.
What new trend do you see in the domestic travel industry? And what kind of growth do you see in the next 5 years?
India is a large travel market that is growing rapidly and will continue to grow over the next decade fuelled by increasing middle class disposable incomes. According to the DGCA report as well, passengers carried by domestic airlines passengers during Jan-April 2017 were 364.13 lakhs which is a growth of 17.71 per cent when compared to
the corresponding period of previous year.
In the last one year, we have seen a huge amount of short haul travel concentrated around the long weekends and holiday seasons. Travellers see the weekends as the opportunity to escape from their monotonous city schedules to indulge in short rejuvenating getaways. Also, many of them have been exploring a variety of homestays, as an accommodation option, to be able to experience the local culture and hospitality. While budget hotels are still the preferred choice of accommodation, homestays as a category is gaining quick popularity among the Indian travellers. On the holiday front, Indians are chasing more off-beat and unexplored destinations with places like the North-Eastern side being on their to-do list.
India’s travel market is poised for continued growth and value creation, following the well-established path seen in the US and China. Our online hotel and air gross bookings is expected to grow nearly twofold to $11 billion by 2020.
What’s Yatra’s source of revenue? And what’s your current market share?
Yatra had approximately 5.2 million cumulative customers as of Mar 31, 2017 and gross bookings of `69.1 billion during fiscal year 2017. We are now a force to be reckoned with in the Indian travel market. Yatra has the largest Indian hotel network (64,500+) and more than 17,000 travel agents in over 1,100 cities and towns.
How does the online travel industry look like in terms of numbers?
India is the fastest growing major economy, with a potential of being a superpower. The current size of the total travel market in India is $28 billion and online is roughly $11.4 billion, according to Phocuswright. The ever increasing disposable income has made people indulge in travel inevitably. For the online travel industry, several tailwinds are anticipated to bolster the growth. With surging mobile and internet penetration, there is a swift transition from offline agents to online agents and online travel booking is taking an increasing share of that market. OTA’s such as Yatra.com have made booking holidays hassle free by showcasing great deals and packages for destinations across the globe. Also with the customer friendly feature-
Yatra Service Assurance’, Yatra ensures exciting packages to provide perfect holiday moments through high end products and services.