MakeMyTrip Stock

MakeMyTrip Limited operates as a travel service provider in India.

The company conducts its business principally through its Indian subsidiaries, MakeMyTrip (India) Private Limited (MMT India), and Ibibo Group Private Limited (Ibibo India), a wholly-owned subsidiary of Ibibo Group Holdings (Singapore) Pte. Ltd. (together with its subsidiaries, including Ibibo India, the ibibo Group or Goibibo business).

The company, through its primary websites, www.makemytrip.com, www.goibibo.com and www.redbus.in, and mobile platforms, travelers can research, plan and book a range of travel services, and products in India, as well as overseas. Its services and products include air ticketing, hotels and packages, bus tickets, rail tickets, car hire, activities and experiences, and ancillary travel requirements, such as facilitating access to third-party travel and other insurance products and visa processing.

It operates properties in India, including alternative accommodation properties, were available to the company’s customers for booking through its platform. In addition, customers can book hotels and properties outside India, as well as tickets from Indian Railways and bus operators, including several major bus operators in India, Peru, Colombia and select countries in Southeast Asia.

The company focuses on the non-resident Indian market in the United States, primarily servicing its demand for the United States (U.S.) to India air tickets. The company primarily targets Indian leisure and corporate travelers for its services and travel products who prefer to make their own travel arrangements through its online and offline sales channels.

Customers are able to make bookings on the company’s MakeMyTrip, Goibibo and redBus mobile and desktop sites accessible through www.makemytrip.com, www.goibibo.com and www.redbus.in, respectively, and through its mobile applications for iOS, Android and Windows, which allow bookings for Indian and international flights, hotels and holiday packages, and Indian bus offerings, trains, inter-city cabs and activities and experiences.

As of March 31, 2022, the company’s MakeMyTrip mobile application had been downloaded approximately 127.6 million times on Android, approximately 14.5 million times on iOS and approximately 0.4 million times on Windows Mobile. As of March 31, 2022, its Goibibo mobile application had been downloaded approximately 109.2 million times on Android and approximately 8.7 million times on iOS. As of March 31, 2022, the company’s redBus mobile application had been downloaded approximately 67.1 million times on Android and 5.2 million times on iOS.

Strategy

The key elements of the company’s strategy are to expand its hotels and packages business; expand its service and product portfolio to enhance cross-selling opportunities; enhance its service platforms by investing in technology; expand into new geographic markets; and pursue selective strategic partnerships and acquisitions.

Services and Products

The company offers a selection of travel and travel-related services and products catering to the travel needs of residents in India, as well as non-resident Indians and others traveling to India from the United States, Southeast Asia, the Gulf Cooperation Council countries and elsewhere. The company provides travelers with the tools and information they need to research, plan, book and purchase travel services, and products in India, as well as internationally. Its services and products include air tickets, hotels, packages, bus tickets, rail tickets, car hire, activities and experiences, and ancillary travel requirements, such as visa processing and facilitating access to travel and other insurance products. Its key customers include leisure travelers and corporates.

Air Ticketing

The company’s air ticketing business is primarily targeted at domestic travel within India and international travel originating in India; and inbound travel to India from the United States, Southeast Asia, the Gulf Cooperation Council countries and elsewhere. The company expanded its air ticketing business through its acquisition of the ibibo Group, through which it continues to operate its Goibibo business.

The company provides its customers with a selection of airline tickets for all major domestic full-service and airlines operating in India, including Air India, Air India Express, Go Air, IndiGo, SpiceJet, Vistara, Air Asia and Trujet; and all major international flights that originate from cities in India, including Air India Limited, Air France-KLM, British Airways, Emirates, Lufthansa, Malaysia Airlines, Singapore Airlines, Thai Airways, Air Asia, Etihad Airways, Kenya Airways, Qatar Airways, Virgin Atlantic and Malindo. The company makes bookings with these airlines either through a global distribution system (GDS) (it uses both Amadeus CRS and Galileo GDS) or via direct connects to the airlines’ booking systems.

For the company’s Indian domestic flights, customers may include searches for night flights, specify a preference for direct flights, as well as include certain airlines and refundable fares. Customers can filter and sort the results of their search according to their preferences. The company has also introduced features that allow customers to select their preferred seats, book meals and check in baggage using its website and mobile platforms.

Hotels and Packages

The company operates its hotels and packages business mainly through MMT India under the MakeMyTrip brand and the ibibo Group under the Goibibo brand. The total number of room-nights in the company’s hotels and packages business was 15.6 million for the year ended March 31, 2022.

Hotels: The company obtains access to room inventory from its hotel suppliers through three methods: direct connects, direct allocation and for most hotels outside India, through contracts with online travel agents and aggregators outside India. All of its hotel suppliers in India have a direct allocation arrangement with it whereby they allocate rooms directly to it either by managing their room inventory through its extranet, or through channel managers, or supported by it through telephone.

The company obtains access to inventory for hotels outside India through contracts with other online travel agents and aggregators outside India. Its inventory also includes home stays and budget rooms through goSTAYS at Goibibo and MakeMyTrip. It has also expanded its hotel offerings by providing alternate accommodations, which include villas, apartments, hostels, homestays and cottages. The company also introduced a calendar sync option, which allows alternative accommodation providers to update inventory by synchronizing their calendars. It allows customers to book these properties through all of its online platforms. The company also provides certain alternative accommodation properties to facilitate communication between customers and hosts. In addition, it allows new hosts to be onboarded directly through its MakeMyTrip mobile application.

On the company’s www.makemytrip.com and www.goibibo.com websites and through its applications on various mobile platforms, customers may search for hotels based on their destination, preferred dates for check-in and check-out, and may filter their search results by selecting star ratings, specific hotel chains, location, accommodation type and other options. Customers can also indicate amenity preferences, such as business services, internet access, fitness centers, swimming pools and travel assistance. MakeMyTrip’s View Map offers customers the ability to compare hotel locations on an interactive neighborhood map. The company’s online hotel booking platforms provide an enhanced user experience for researching and booking hotels on desktop and mobile devices.

Packages: The company offers pre-packaged vacations designed by its in-house product specialists, under arrangements with various travel suppliers and its GDS service providers to cater to both individual and group travelers. Its packages also include various travel services, such as facilitating access to travel and other insurance products from third-party insurers, visa processing, airport transfer and sightseeing.

Indian Domestic Packages: The company offers various packages, including escorted tours, honeymoon specials, and weekend breakaways, as well as themed vacations, such as beach, adventure, family, pilgrimage, romantic, shopping, cruise and culture.

International Packages: The company offers a wide variety of pre-designed independent packages, customized independent vacations, customized group tours and pre-designed escorted tours to cater to the varying budgets and preferences of its customers.

Meetings, Incentives, Conferences, Exhibitions and Events (MICE): The company’s MICE team offers services to organizations and other groups with planning meetings, conferences, weddings, trips or other events. Its MICE team assists such customers in planning and booking travel arrangements for large groups of travelers to domestic and international destinations.

Corporate Travel Service: The company offers the corporate booking tool myBiz, which is a business travel solution for the booking of travel services by corporates and SMEs. It offers a centralized, corporate level wallet for all bookings, which is managed by corporate administrators and provides real-time reporting. With the acquisition of Quest2Travel in April 2019, which provides travel solutions for various corporates across India, it intends to further strengthen the company’s offerings to corporate travelers. As of March 31, 2022, more than 22,000 corporates transacted on its platform across air ticketing or hotel bookings.

Bus Ticketing

The company owns and operates its bus ticketing business primarily through redBus, an online bus ticketing platform with a presence across India through www.redbus.in and in select countries overseas through its other regional redBus websites. The company acquired its redBus through its acquisition of the ibibo Group. Customers can also make bus bookings on its MakeMyTrip and Goibibo websites in India and on mobile platforms through the company’s mobile applications for iOS and Android. Customers can also access YourBus, a vehicle tracking tool and other features in all three brands. Through its websites and mobile platforms 39.5 million bus traveled tickets were booked for the year ended March 31, 2022.

The company has agreements with several major bus operators in India, Peru, Colombia and select countries in Southeast Asia, including government bus operators, some of which are operators of multiple routes, as well as with aggregators and other intermediaries. Its bus tickets inventory is obtained through two channels: real-time inventory from operators and inventory from aggregators, who are directly connected to its booking system.

Customers can search for bus tickets based on their preferred platform with their travel dates and routes and its websites would display various options for customers to choose from. The company offers its customers basic information on the type of bus used on the relevant route. Customers are able to select seats, choose from the available boarding points in the relevant city on the routes, as well as obtain information on the location of the chosen boarding point among other details. Its websites and applications also enable its customers to find their destinations by using colloquial names. The company also made significant improvements to its online bus booking platform, such as filters and crowd-sourced bus images and reviews from its users which helps its customers make informed decisions while booking buses.

redBus also sells bus tickets through agent platform, SeatSeller, which comprises approximately 13,700 agents across India, South-East Asia and Latin America. In addition, redBus tickets are sold through approximately 130 application programming interface (API) partners. The redBus transaction database is highly scalable to cater to its growing transaction needs.

redBus launched a variety of initiatives aimed at improving customer experience, including personalized boarding and drop-off points for customers; Flexi Ticket, which enables customers to reschedule bookings efficiently; Primo, which provides customers with information on available third-party services during their journey; add-ons, such as food orders during their journey; and a customized travel insurance product in collaboration with an insurance provider. In international markets, redBus offers Pay@Bus, which enables customers to book bus tickets in advance and pay for such tickets upon boarding and also offers a feature, which enables customers to buy bus passes at a discounted price and redeem it at their convenience.

Other Services and Products

Rail Tickets: The company sells railway tickets in India on its MakeMyTrip and Goibibo platforms through direct-connect access to Indian Railways’ passenger reservation system online, allowing customers to reserve and purchase Indian Railways tickets on a real-time basis, as well as through its redBus platforms (which also includes its redRail mobile application). Indian Railways is India’s state-owned railway, which owns and operates most of India’s rail transport. The company booked 4.6 million transactions for rail tickets for the year ended March 31, 2022.

Using a customized search interface, the company’s customers are able to search for train tickets based on their preferred travel dates, destinations and class of travel.

Car Hire: The company provides car hire services, airport transfers and outstation cabs on both MakeMyTrip and Goibibo platforms. Customers can make bookings through its desktop and mobile sites and its mobile applications for iOS and Android. As of March 31, 2022, the company offered outstation cab services in more than 1,200 cities in India. It also offers transfers to and from 14 airports across India. Through its websites and mobile platform, more than 0.2 million outstation cabs services transactions were booked for the year ended March 31, 2022 and 0.3 million airport transfer transactions were booked for the year ended March 23, 2022.

In 2022, the company introduced ‘rYde by redBus’, a certified intercity cab transport service with quality vehicles and trained drivers, in two pilot cities, being Bengaluru and National Capital Region of Delhi, through its MakeMyTrip, Goibibo and redBus platforms.

Experiences

In 2019, the company introduced Experiences to enable its users to explore local activities in destinations that they travel to. As of March 31, 2022, it had partnered with premium service providers across the world to bring over 35,000 domestic and international products to the company’s customers.

Fintech Services

In 2021, the company launched a technology platform for financial services to cater the needs of domestic and international travelers from India through its wholly-owned subsidiary, TripMoney Fintech Solutions Private Limited (TripMoney).

TripMoney’s technology platform connects the company’s customers in India to various lenders in India that offers short-term credit lines for up to twelve months to travelers, which helps to facilitate purchases of its travel offerings by the company’s customers by allowing them to pay for their travel expenses in instalments after their journey. TripMoney also offers foreign currency-related solutions, which includes a co-branded foreign exchange card through a strategic partnership with a bank. Indian travelers visiting overseas can purchase prepaid cards in India and pay for overseas purchases in the local currencies of their destination country. In addition, TripMoney also provides technology solution that connects its customers in India with various insurers who provide insurance solutions to travelers.

In April 2022, TripMoney acquired a majority interest in Book My Forex Private Limited (Book My Forex), which offers currency exchange, multi-currency prepaid forex cards, and cross border remittances, as well as other ancillary products to Indians travelling abroad.

Ancillary Services and Products

As an ancillary service offered to its customers, customers have the option of purchasing travel insurance from third-party insurers for trips booked on the company’s online platforms at the time of booking. In 2021, the company began facilitating access to COVID-19 insurance from third-party insurers, which covers hospitalization upon illness within 15 days of travel. It also launched door-to-door baggage delivery services through third party logistics providers to provide added convenience and seamless airport transfers to its customers.

In 2022, the company began facilitating the sale of medical and travel insurance for domestic travellers. It also launched international COVID-19 quarantine coverage for flights, hotels and holidays, as well as cancellation penalty coverage for bus and hotel bookings and international travel insurance in connection with mandatory insurance requirements for visa applications.

Distribution Channels

The company utilizes various technology-enhanced distribution channels to target the Indian middle-class travel market, where digital and ecommerce adoption is still at an early stage. Its distribution network gives it access to Indians traveling domestically or overseas and also reaches non-resident Indians and others traveling inbound to India. Its distribution network uses a combination of its websites, call centers, and franchisee-owned travel stores, as well as its travel agents’ network in India and mobile service platform, giving it multiple channels to access these customers. The majority of its total transactions are carried out through its websites and mobile applications.

The company’s customers’ varied needs are served by different distribution channels. All of the company’s sales of air tickets for travel were made through its websites and mobile applications and the balance of its sales for air tickets, were made through its call centers and were most commonly for inbound travel. The company’s sales of hotel rooms are also primarily made through its websites and its mobile applications. Its customers can book standard flight plus hotel packages on its websites and its mobile applications, but the majority of the sales of packages within or outside India are concluded through its call centers, travel stores and travel agents’ network. All of its bus and rail ticket sales in India are made through its Indian website and its mobile applications.

Internet Websites and Mobile Applications

The company’s MakeMyTrip brand operate through the websites www.makemytrip.com and other overseas regional websites servicing the Indian domestic and outbound market, the United States-India inbound market (focuses on particular on non-resident Indians in the United States), the Gulf Cooperation Council countries, and neighboring South-East Asian countries. Its Goibibo brand operates through www.goibibo.com and its redBus brand operates through www.redbus.in and other overseas regional websites.

The company’s websites and their content are tailored to its predominantly Indian user base. On www.makemytrip.com, the company has localized its hotel webpages with information and using language. The company has integrated the in-house development capabilities of MMT India and the ibibo Group to continuously maintain and improve its various platforms, including its www.makemytrip.com, www.goibibo.com and www.redbus.in websites. In 2021, the company also launched the Arabic language version of its desktop and mobile website for flights and hotels product offerings in the Middle-East, specifically the Gulf Cooperation Council countries.

Using its websites, customers can review the pricing and availability of its services and products, evaluate and compare options, and book and purchase such service and products online. The company has also designed its websites to offer personalized recommendations and offers based on a customer’s history. In addition, the company has self-service customer support modules on its websites to let its customers check their refund status, modify or cancel reservations and view their travel itineraries. Customers could also purchase ancillary travel-related services and products, such as travel and other insurance products as part of the booking process. A transaction on the company’s websites involves the following steps:

Search: The company’s web-based MakeMyTrip, Goibibo and redBus booking engines, which have been designed to link to its suppliers’ systems either through direct connects or a GDS (it uses both Amadeus CRS and Galileo GDS), allows it to deliver real-time information. In addition, the company provides extranet access to its hotel suppliers where they can update their rates, inventory and content on its websites.

Select: At this stage, the company’s websites display to the customer various possible selections that are available in a user-friendly format, and also prompt the customer with available special offers or provide additional information about the product. Its websites are enabled with asynchronous JavaScript and extensible markup language allowing customers to sort or refine search results by further defining certain parameters, such as price range, time range, preferred airlines and availability of refunds for air tickets, and star rating, preferred hotel chains and hotel amenities.

Review: After a customer has selected a particular option, the company’s websites will provide the customer with an opportunity to review the details of the product being purchased and the terms and conditions of such purchase. At this stage, its websites connect to the GDS (Amadeus CRS and Galileo GDS) or the websites of its travel suppliers to confirm the availability and pricing of the product selected, and in the event the customer’s choice is not available, the customer would be informed of the alternative to the selected product. Customers booking travel products on its websites and mobile applications will also be shown options to purchase travel and other insurance products and other related ancillary services.

Payment: The company offers its customers various payment methods. On its Indian websites, customers may pay in Indian Rupees with credit cards, debit cards issued by various major banks in India (including Citibank, ICICI Bank, HDFC Bank, State Bank of India and AXIS Bank), bank transfers, e-wallets and unified payment interfaces, such as GooglePay and PhonePe. The company also offers partial payment options for large value transactions. All sales made through its desktop and mobile platforms require consumers to pay or guarantee their purchases with their credit cards or other payment options. Its online payment gateways are secured by Verified by VISA, MasterCard SecureCode, Diners ProtectBuy, RuPay PaySecure and American Express SafeKey. Customers may also use its propriety prepaid wallets (MyWallet, GoCash and redBus Wallet) to obtain instant refunds and a checkout experience. The company also accepts international cards (issued outside India) through single factor authorization for which fraud chargeback liability is on MakeMyTrip. On its US MakeMyTrip website, customers may pay in US dollars with credit cards or through PayPal. On its the United Arab Emirates (UAE) website, customers may pay in the United Arab Emirates Dirhams with credit cards or other payment modes acceptable in UAE. On its other international websites, customers may pay in multiple currencies with credit cards.

In 2021, the company launched deferred payment plans through one of its subsidiaries in India to serve the online customers of MMT India and Ibibo India, giving its customers the option to pay for their bookings in monthly instalments over a duration of up to 12 months, in partnership with banks, such as ICICI and IDFC and non-banking finance companies, such as Kissht, Capital Float and Zest Money. The company also offers an algorithm-based ‘Book Now, Pay Later’ option for certain customers and offerings, as well as a hotel booking option that requires the payment of a nominal fee at booking, with the remainder auto-debited from customers after completion of their stay.

The company has enabled a fraud verification engine from Riskified, which helps in screening suspicious transactions for Singapore and Latin American markets. It supports offline payments for Indonesia and Latin American markets, where customers can reserve seats for a fixed number of hours and subsequently pay for such seats in cash at ATM stores and other offline locations.

The company’s MakeMyTrip, Goibibo and redBus mobile platforms cater to the full range of traveler needs. This includes its mobile websites and mobile applications, which allow customers to search, book and pay for Indian domestic and international air tickets, hotels and packages, bus and rail tickets, cab bookings and attractions and activity bookings on their mobile phones. The tickets and bookings are delivered through email and WhatsApp messages. The company also sends regular updates on its offers to its customers through push notification on mobile applications. Its mobile applications are available for Android, iOS, and Windows devices. As of March 31, 2022, the company had over 56 million customers who have transacted on its various platforms. Approximately 85% of its Indian online visitors reached the company through its mobile platforms for the year ended March 31, 2022.

Call Centers

The company’s in-house call centers that handle its sales and post-sales customer service support for MMT India’s international hotels and packages business, as well as domestic Indian packages with more complicated itineraries, are run out of Gurugram and Nashik in India. For its International business operations the company also has its call centers in Singapore and Thailand. Its in-house call centers that handle its sales and post-sales customer service support for its bus-related services are run out of Bangalore and Pune. The company also outsources its call centers in Malaysia, which supports its bus ticketing operations in Singapore and Malaysia. The company’s call centers in India operates 24 hours a day, seven days a week and customers can call these centers to consult with its sales representatives, receive comprehensive, real-time hotel and package information, and make travel bookings. All of its sales representatives in India participates in a comprehensive training program before commencing work and have an in-depth knowledge of their relevant local market. Its sales representatives also receive up-to-date training on the company’s new services and products.

The company’s outsourcing service providers also handle its post-sales customer service support for all flights (domestic and international), hotel reservations and packages, and rail and bus ticketing, as well as back office fulfillment and ticketing services. The company primarily outsources its call center operations and fulfillment process in India to iEnergizer IT Services, Radical Minds Technologies, Concentrix Daksh Services, and others. Its external agents complete training programs and refresher training courses to understand its processes and systems. Its system also enables it to monitor the number of waiting calls and limit customer-aborted calls on its hotlines due to unacceptably long waiting times. The company also has a third-party partner who audits the inbound and outbound calls and emails of its call center agents.

Travel Stores

The company operates franchisee-owned travel stores operated pan India, which primarily sells packages under its MakeMyTrip brand.

Travel Agents’ Network

The company’s travel agents could access its MakeMyTrip, Goibibo and redBus B2B websites, which enable them to sell its full suite of online travel services to customers. Its B2B websites use a similar interface as its external customer-facing websites. Its travel agents’ network allows it to expand its footprint in India and distribution network. In 2021, MMT India launched dedicated platform ‘myPartner’ for travel agents, which enables travel agents to book hotels and air tickets on its platform, with direct access to the company’s hotel and flight inventory. The company had registered agents on its myPartner platform.

Supplier Relationships

The company’s major airline suppliers for travel in India and internationally, and major hotel suppliers were:

Airlines (Travel within India): Air India; Go Air; IndiGo; Spice Jet; and Vistara.

Airlines (International Travel): Air India; Emirates; Go Air; IndiGo; and Vistara.

Hotels (within India): Accor Hotels; Lemon Tree Hotels; Marriott Hotels & Resorts; Radisson Hotels; and Taj Hotels, Resorts & Palaces.

Marketing

The company’s marketing channels on desktop and mobile web primarily include online advertising, such as paid search engine marketing and optimization with Google, social media advertising (such as on Facebook, Twitter, LinkedIn and YouTube) and display advertising on other websites, participation in meta search engines (such as hotels product ads by Google, TripAdvisor and Trivago), offline advertising leveraging print or broadcast media, such as television or radio, e-mails and short messages, and other marketing channels, such as through its call centers and franchisee stores.

The company continues to scale up its existing strategic partnerships with major banks and credit card providers in India, including American Express, Axis Bank, Citibank, HDFC Bank, ICICI Bank and SBI Credit Card, which helps it to access its strategic partners’ customer base.

The company is working with the different Indian state tourism boards, such as Madhya Pradesh, Goa, Rajasthan and Uttarakhand to host state-run hotel packages on its platforms and to build marketing strategies for promoting them. The company has also advertised with brand partners, such as Hotstar, Google Pay, Airtel, TikTok, and Zomato to expand the reach of its brand and acquire new customer base from different parts of India.

MakeMyTrip and Goibibo offer loyalty programs. MMT India offers the MMT Black loyalty program for select customers on an invite-only basis to promote repeat bookings and enhancing stickiness to the platform. MMT Black members earn rewards based on their spending on the company’s applications and websites and these rewards can be used to get discounts on bookings on its website and mobile platforms and can also be exchanged for coupons and rewards from partner brands. In 2021, the company relaunched its premier invite-only MMT Black loyalty program with enhanced benefits, such as special discounts and upgrades on participating hotel brands, tier based complimentary flights, holiday privileges and rewards on each booking on its app and websites. As of March 31, 2022, it had 1.2 million enrolments in MMT Black.

Goibibo’s ‘GoTribe’ loyalty program allows registered users to earn rewards and benefits on their travel bookings. Members earn Tribe coins and has access to benefits, such as special discounts and complimentary privileges from participating hotel brands and tier based complimentary flight seats on each booking on app or web. The Tribe coins can convert to GoCash or exchange for Tribe coupons, which can be used for obtaining discounts for future bookings. As of March 31, 2022, Goibibo had 1.0 million enrolments in GoTribe.

Intellectual Property

The company has registered the domain names www.makemytrip.com, www.makemytrip.ae, www.makemytrip.com.sg, www.goibibo.com, and www.redbus.in, and has full legal rights over all these domain names for the period for which such domain names are registered. The company primarily conducts its business under the MakeMyTrip, Goibibo and redBus brand names and logos. It has registered the trademark MakeMyTrip, Goibibo and redBus in India, Australia, Canada, certain member states of the European Union, Russia, Singapore, the United States of America (US or the United States) and various other jurisdictions, and it has other trademark applications pending in these jurisdictions. The company has also applied for patents in India for certain aspects of its technological systems.

The company’s key logos are also registered trademarks in India, including MakeMyTrip, MMT Black, MakeMyTripMyBusiness, go-mmt, GoStays, GoIbibo, Ibibo, MAKEMY, MYTRIP, GoTribe, GoCash, Primo, and redbus.in.

For the year ended March 31, 2022, a series of new trademark applications were filed for some of which have also got registered. Additionally, to protect the marks of MakeMyTrip, Goibibo and redBus, the company files objections before the trademark registry from against deceptively similar trademarks.

Competition

The company primarily competes with established and emerging providers of travel services and products, including other online travel agencies, such as Yatra.com, Easemytrip.com, Airbnb.co.in, Booking.com, Cleartrip.com, Expedia.com, traditional travel agencies, tour operators, travel suppliers and intermediaries that provide travel services. In the hotels and packages segment, the company primarily competes with traditional travel players, such as Thomas Cook, Travel Triangle and others in packages offerings, as well as online travel agencies in the case of hotel bookings and new entrants.

Regulations

MMT India requires licenses from state tourism departments to act as a travel agent/tour operator in certain states in India. MMT India has received such licenses from the Ministry of Tourism, Government of India for its registered office in the state of Haryana. In addition, Luxury Tours and ibibo Group Pte. Ltd. holds a travel agent’s licenses from the Singapore Tourism Board. The company also has inbound and outbound licenses for ITC Group issued by Department of Tourism, Thailand.

Under the Indian Information Technology Act, 2000, as amended, the company is subject to civil liability to compensate for wrongful loss or gain to any person arising from negligence in implementing and maintaining reasonable security practices and procedures with respect to sensitive personal data or information that the company possesses, deals with or handles in its computer systems, networks, databases and software.

The company obtained necessary licenses to operate its domestic and international call centers as ‘Other Service Providers’ in Gurugram and Bengaluru from the Department of Telecommunications, Ministry of Communications, Government of India.

History

MakeMyTrip Limited was founded in 2000. The company was incorporated under the laws of Mauritius with limited liability in 2000.