EaseMyTrip Hits High Notes: Revenue Up 18.1% with Strategic Expansion

EaseMyTrip Hits High Notes: Revenue Up 18.1% with Strategic Expansion

By Author

Published on February 12, 2024

EaseMyTrip, a front-runner in India's online travel scene, has recently shared some impressive numbers, showing a significant uptick in its financial health and operational achievements. For the third quarter of the financial year 2024 (Q3FY24), the company reported a revenue of INR 1,607.9 million, marking a robust 18.1% increase from the previous year. Not just stopping there, its EBITDA climbed by 10.9% to reach INR 653.7 million, with the Profit After Tax (PAT) also seeing a healthy growth of 9.5%, amounting to INR 456.6 million.

The company didn't just enjoy a fruitful quarter; its nine-month performance metrics are equally impressive, with a Gross Booking Revenue (GBR) hitting INR 64,226.0 million. Air ticket bookings alone soared to 83.7 lacs, with hotel night bookings and other services also seeing significant uptake. This performance cements EaseMyTrip's status not only as a profitable entity in the tech-forward industry but also as a company with a continuously expanding market presence.

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In a strategic expansion beyond its core online travel services, EaseMyTrip has acquired a 13% stake in ECO Hotels and Resorts, tapping into the growing demand for sustainable travel options. Additionally, a landmark Memorandum of Understanding (MOU) with the Government of Uttarakhand was signed to boost the state's tourism on a global scale. This partnership, aimed at promoting Uttarakhand as a prime tourist destination, leverages EaseMyTrip's vast reach.

The introduction of EasyDarshan, offering curated pilgrimage packages, and "Explore Bharat - Discover the Soul of India," targeting international travelers, are part of EaseMyTrip's efforts to diversify its offerings and enhance customer experience. Moreover, the launch of an exclusive subscription program for High-Net-Worth Individuals (HNI) showcases the company's focus on catering to a wider audience with varied preferences.

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EaseMyTrip's involvement as the Principal Sponsors of UP Yoddhas in Kabaddi and its association with the World Tennis League Season 2 highlights its active engagement in broadening its brand visibility through sports. Collaborations with telecom giant Vi for exclusive travel and roaming offers further demonstrate EaseMyTrip's commitment to delivering value-added services to its customers.

The company's strategic sales events - the Winter Carnival Sale, Travel Utsav Sale, and Dussehra Travel Sale - have played a significant role in attracting more customers by offering substantial discounts across a range of services. These sales events are a testament to EaseMyTrip's dedication to providing exceptional value and enhancing the travel booking experience for its users.

EaseMyTrip's latest financial and operational milestones underscore its dynamic growth trajectory and its ability to innovate and adapt in a competitive market. With a focus on sustainable travel, strategic partnerships, and customer-centric services, EaseMyTrip is not just navigating the present with success but is also steering towards a promising future in the travel industry.


Sterling Holiday Resorts Reports Record-Breaking Q3 Results with Double-Digit Growth

Sterling Holiday Resorts Reports Record-Breaking Q3 Results with Double-Digit Growth

By Nishang Narayan

Published on February 7, 2025

Sterling Holiday Resorts Ltd. has announced its strongest quarter yet in Q3 FY25, marking a milestone in the company’s growth trajectory. With 18 consecutive quarters of profitability, Sterling’s performance in Q3 surpassed even its traditionally dominant Q1, thanks to strategic portfolio expansion that strengthened revenue streams beyond peak seasons.

The company reported a 12% YoY income growth, reaching ₹1,389 Mn. EBITDA increased by 14%, with a solid 38.8% EBITDA margin, while EBIT rose 13% YoY.

Expanding Horizons: Three New Resorts Launched

Sterling’s portfolio now spans 48 locations with 57 resorts, hotels, and retreats in the upper-mid to upper-upscale segments. Strengthening its footprint, the company added three new resorts in Q3:

  • Sterling Lontano Waterfront Wayanad (Kerala)
  • Sterling Brookstone Coorg (Karnataka)
  • Sterling Bagh Ranthambore (Rajasthan)

Maintaining its rapid growth pace, Sterling has launched one resort per month for the past 18 months, with several more in the pipeline.

"Sterling has witnessed its strongest-ever quarter, a testament to our brand's growing preference among customers. A surge in holiday demand, coupled with our aggressive resort expansion, has fueled this success," said Vikram Lalvani, MD & CEO, Sterling Holiday Resorts.

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Food & Beverage Sees 20% Growth

Sterling’s food and beverage division has been another strong performer, recording a 20% YoY growth. The company attributes this to its enhanced dining experiences and a diverse range of culinary offerings across its properties.

Sustainability at the Core: Sterling Sankalp Initiative

Further strengthening its commitment to sustainability, Sterling has introduced Sterling Sankalp, an ESG initiative aimed at responsible tourism. The company has implemented key measures across several resorts, including:

  • Energy Conservation: Heat pumps for optimized energy use
  • Waste Management: Organic Waste Converters for eco-friendly disposal
  • Water Sustainability: Rainwater harvesting and water recycling programs

Looking Ahead

On a year-to-date (YTD) basis, Sterling has achieved a 14% growth in income (₹3,842 Mn) and a 35% EBITDA margin, showcasing its sustained upward trajectory. With an expanding portfolio, a thriving food and beverage sector, and a strong focus on sustainability, Sterling continues to solidify its leadership in the hospitality industry.


Budget 2025: A Boost for Hospitality, Catering, and Startups

Budget 2025: A Boost for Hospitality, Catering, and Startups

By Nishang Narayan

Published on February 5, 2025

The Union Budget 2025 has introduced key measures that promise growth across the hospitality, food & beverage, and startup sectors. Industry leaders see these developments as game-changing, driving innovation, infrastructure enhancement, and workforce development.

Strengthening the Catering Industry

Mayank Prasad, Founder of Curated Catering by Design, sees the budget as a positive step for the catering and hospitality sector.

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"The establishment of the National Institute of Food Technology will drive innovation and skill development in food processing, benefiting the entire ecosystem. The push to enhance tourism by developing 50 key destinations is a welcome move that will directly boost demand for premium catering services. Additionally, government support for hospitality training programs will help bridge the skill gap, ensuring a well-trained workforce for the sector," he said. With these measures, the catering industry is poised to scale, innovate, and contribute significantly to India's evolving culinary landscape.

A Vision for Holistic Tourism Growth

Rahul Taneja, Head of Operations at Dharana at Shillim, highlighted the transformative impact of the budget on tourism.

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"A standout feature is its strong emphasis on the travel and hospitality industry, with well-structured measures to boost both domestic and international tourism. Initiatives like promoting spiritual and medical tourism, along with the Heal in India initiative, will be game-changers," he noted. The budget’s collaboration with the private sector and simplified visa norms aim to position India as a top destination for holistic well-being, integrating Preventative Medicine, Healing Nutrition, Ayurveda, and more. Additionally, investments in skill development within the hospitality sector will enhance service quality, elevating India's global tourism reputation.

A Strong Push for Startups and Infrastructure

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Vishal Puri, Co-Founder of Spalba, praised the budget’s steps toward fostering innovation and sustainability.
"Investments in tourism infrastructure and connectivity enhancements, like the development of greenfield airports and the modified UDAN scheme, should boost domestic and international travel. However, the quality of services at these airports, specifically regarding cancellations, needs to be controlled for these measures to be effective," he pointed out. The inclusion of hotels in the harmonized tourism infrastructure scheme and the ₹1 lakh crore Urban Challenge Fund are also expected to transform urban tourism experiences. Additionally, startups will benefit from an extended tax holiday, simplified compliance, and increased funding through the ₹10,000 crore Startup India Fund, driving digital innovations and sustainability.

With a strong focus on tourism, catering, and startups, the Union Budget 2025 sets the stage for accelerated growth, making India a more attractive and accessible destination for travelers and entrepreneurs alike.


Union Budget 2025: A Game-Changer for India's Hospitality Sector

Union Budget 2025: A Game-Changer for India's Hospitality Sector

By Nishang Narayan

Published on February 4, 2025

The Union Budget 2025 has set the stage for significant transformation in India's hospitality and tourism sector. With a strong emphasis on infrastructure, connectivity, and investment-driven growth, industry leaders believe these measures will bring long-term benefits, attracting both domestic and international travelers.

One of the key highlights is the modified Udaan scheme, which will introduce 120 new destinations, strengthening regional connectivity and boosting tourism in emerging hotspots. Hotels, resorts, and homestays in lesser-explored regions are expected to see an increase in footfall, fostering further development and investment.

Ambika Saxena, CEO of TWH Hospitality, emphasized how the expanded Udaan scheme will open doors for new destinations, benefiting hotels and resorts. She stated:

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"This year, the government has presented a well-balanced and growth-oriented budget, specifically supporting the tourism and hospitality sectors. The modified Udaan scheme will open doors for the hospitality sector by bringing new tourist destinations into the spotlight. Hotels, resorts, and homestays in unexplored regions will see a surge in demand, encouraging further investment and development. With the government's push for connectivity and including new 120 destinations, we expect a stronger pipeline in the hospitality sector, catering to both business and leisure travelers in emerging tourism hotspots."

The expansion of tourism-friendly policies is another key highlight, with a focus on domestic and spiritual tourism. Measures such as streamlined e-visa facilities, visa fee waivers, and performance-linked incentives for states will improve tourist amenities and cleanliness, ultimately enhancing the travel experience.

Yogesh Mudras, Managing Director of Informa Markets in India, sees this as a landmark initiative for India's tourism industry:

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"The Union Budget 2025 presented a progressive roadmap that prioritizes infrastructure, economic growth, and regional connectivity. The government's continued emphasis on regional development and tourism-friendly policies will have a far-reaching impact on multiple sectors, including travel and tourism. The modified Udaan scheme, in particular, is a landmark initiative that will strengthen India's position as a global tourism hub. The scheme has already benefited 1.5 crore middle-class travelers, and the expansion of the scheme to include 120 new destinations is a game-changer for regional connectivity. With increased accessibility, we anticipate a surge in domestic tourism and business travel, providing a major boost to the tourism industry."

The government has also placed a strong focus on homestays and small-scale tourism businesses by introducing Mudra loans to empower local entrepreneurs. This move is expected to encourage more people to invest in the hospitality space, promoting sustainable and community-driven tourism.

Pranav Dangi, Founder and CEO of The Hosteller, believes these steps will help India emerge as a top global destination:

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"The Union Budget 2025 presents a robust vision for India's tourism sector. The emphasis on infrastructure development, support for homestays through Mudra loans, and the inclusion of hotels in the harmonized scheme will strengthen the industry's foundation. Additionally, developing 50 tourist destinations will definitely enhance India's position as a global travel hub. Being in the travel and hospitality space for more than a decade, I see these initiatives as the required push for accessibility, affordability, and innovation in travel, setting the stage for India to emerge as a top global destination."

Another critical aspect of the budget is skill development and workforce training in hospitality. The government aims to provide intensive training programs through Institutes of Hospitality Management, ensuring world-class education and better employment opportunities in the sector.

Saurabh Gahoi, Senior Vice President of Ramee Group of Hotels, sees this as a transformative step for the industry:

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"The Union Budget announcement by FM Sitharaman marks a significant milestone, driving growth while empowering citizens, particularly the middle class. A notable highlight is the emphasis on the travel and hospitality industry, which promises transformative changes.
Key measures include enhancing connectivity to major tourist destinations, offering performance-linked incentives to states for better destination management, and improving tourist amenities and cleanliness. Additionally, the introduction of streamlined e-visa facilities and visa-fee waivers for select groups is set to boost inbound travel.
Domestic and spiritual tourism is set to flourish, supported by revised income tax reforms that encourage travel within the country. A major boost comes from intensive skill-development programs, particularly in Institutes of Hospitality Management, ensuring world-class training for the youth. By prioritizing individual growth, these initiatives will lead to superior customer experiences, elevating India's hospitality standards globally.
This budget serves as a catalyst for long-term industry growth, creating new business opportunities and employment. With a focus on infrastructure, workforce development, and seamless travel experiences, FM Sitharaman's budget is a game-changer, strengthening India's position as a premier travel and hospitality hub."

Conclusion

With infrastructure development, connectivity expansion, and workforce training at its core, the Union Budget 2025 is a major step forward for India's hospitality and tourism industry. By enhancing accessibility, supporting small businesses, and improving the ease of travel, the government has laid the foundation for a vibrant, competitive, and globally recognized tourism sector. These policies are expected to create new business opportunities, attract investments, and establish India as a premier travel destination in the years to come.

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