MakeMyTrip to Buy Flamingo Transworld Stake as India Holiday Package Travel Grows
MakeMyTrip on Thursday announced an agreement to take a majority stake in Flamingo Transworld, a regional tour operator, marking another move into bundled holiday packages that combine hotels, transport, and sightseeing. No price was disclosed, and closing conditions still apply. This is a notable shift: hotels and packages now top the revenue charts for MakeMyTrip, and they’re expanding at a pace that’s leaving air ticketing behind. For the quarter ending Dec. 31, that division booked a 9.7% jump in revenue, reaching $161.4 million. Air ticketing, on the other hand, slid 2.1%. The company blamed it on tight domestic airline supply and a softer rupee.