siliconindia | | SEPTEMBER 20259In FY2023-24 MMT delivered record-breaking results, outpacing the industry by 1.5× and setting new highs in revenue and profits. A 2017 merger with Ibibo (GoIbibo and redBus) gave MMT triple-engine growth across flights, hotels and bus travel.Even the Covid crisis emerged as a catalyst, MMT revenues fell momentarily by 95 percent, but the company quickly automated its operations, reduced customer-acquisition expenses and introduced AI-driven customer service, becoming leaner and more digitalized. In short, MMT's resilience and tech focus have kept it ahead in India's fiercely competitive OTA market.Key Leaders· Deep Kalra, Founder & Chairman· Rajesh Magow, Co-Founder & Group CEO· Sanjay Mohan, Group Chief Technology Officer· Mohit Kabra, Group Chief Financial OfficerEaseMyTrip: This bootstrapped Delhi-based OTA (founded 2008) has also thrived in the post-COVID resurgence. In FY2023-24 it achieved record results, revenue jumped 32 percent to 591 crore crore and profit rose 16 percent to 215 crore.crore.EaseMyTrip's business covers flights, hotels, buses and insurance. Its Nishant Pitti notes it now serves 2.6?crore customers. The company is diversifying in 2024 it took a stake in a Jeewani Hospitality hotel project and launched its own insurance broker entity, expanding its all-in-one travel services.The industry sees EaseMyTrip's no-convenience-fee model and tier-2/3 focus as key strengths. Its strong FY24 performance the best yet signals robust domestic travel demand and efficient operations.Key Leaders· Nishant Pitti, Co-Founder· Rikant Pittie, Co-Founder and CEO· Prashant Pitti, Co-FounderThe GST Effect on TourismRecent government tax reforms have significant implications for travel tech. In September 2025 India's GST Council rationalized rates to just two slabs (5 percent and 18 percent). Crucially for travelers, hotel stays up to Rs 7,500 per night (mid-range/budget segment) now attract just 5 percent GST without input credits (down from 12 percent with credits). Economy-class air tickets remain at 5 percent, while premium class fares saw an increase to 18 percent. Industry leaders hail these changes.EaseMyTrip's Co-founder Rikant Pitti called it an `exciting time' for tourism, noting that simpler slabs `will make travel more affordable for people and boost overall demand'.MakeMyTrip's Rajesh Magow likewise praised the move, saying lower taxes on budget hotels will make stays more affordable for a large share of Indian travellers, reinforcing demand in the domestic market.Zostel's CEO Aviral Gupta pointed out that cutting GST on hospitality to 5 percent makes travel and accommodation more affordable and will spur long-term growth in the sector.On the other hand, some segments face a GST hike. Notably, non-economy (business/first class) flight tickets now carry 18 percent GST, making them costlier. This could dampen premium travel slightly, but most analysts believe the boost to mass tourism outweighs this.Overall, the simplified GST regime reduces compliance headaches for travel companies and is widely viewed as net positive for tourism growth.India's New Travel EraMobile/Internet Penetration: Over 70 percent of OTA bookings come via smartphones. Cheap data and digital literacy have brought even rural users online. Apps leverage voice search and regional languages to widen access.Digital Payments & Fintech: The ubiquity of UPI, credit/debit cards, and emerging BNPL has boosted consumer confidence in online booking. Seamless payment options shorten the booking funnel.Weekend Getaways/Staycations: Post-2020, Indians are taking more short trips and workations. Services like OYO and Airbnb style homestays have expanded supply to meet this trend.The Hidden HurdlesHigh Customer Acquisition Costs: Coupled with discounts, marketing expenses are huge. Travel platforms spend heavily on Google Ads, social media and affiliate fees to capture each booking. Payback periods can be long, making it tough for bootstrapped startups (though EaseMyTrip succeeded without venture capital).Regulatory and Policy Complexity: While recent GST reforms help, the travel sector still navigates complex regulations. Changes in aviation policies, foreign direct investment rules for hospitality, and local tourism levies can abruptly alter costs.Wrapping it Up!Travel apps are turning into end-to-end companions and GST changes enhance low-end travel. The combination of technology, policy, and innovation is creating smarter and seamless travels to every Indian traveller.
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