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By Nishang Narayan
Published on July 7, 2024
ixigo, India's leading online travel agency, has reported impressive financial results for the fiscal year 2024, underscoring its strong market position and growth trajectory. The company's Gross Transaction Value (GTV) surpassed INR 10,000 Cr, achieving a notable 38% year-over-year (YoY) growth rate. This growth was particularly driven by a 75% increase in Flight GTV, highlighting ixigo's dominance in the flight booking segment.
Revenue from Operations for FY24 reached INR 655.9 Cr, representing a robust 30.8% YoY increase from INR 501.3 Cr in FY23. The fourth quarter of FY24 alone saw a 20.4% YoY revenue growth, totaling INR 164.9 Cr. The Contribution Margin (CM) for the year rose by 34.7%, supported by strong performances in bus and train bookings.
In terms of profitability, ixigo reported a Profit After Tax (PAT) of INR 73.1 Cr for FY24, marking substantial growth driven by operational efficiencies and strategic market expansion. Adjusted EBITDA, which includes ESOP Expenses and Other Income, saw a significant increase of 24.7% YoY, amounting to INR 55.3 Cr for the year.
Commenting on the results, ixigo's Group CEO, Aloke Bajpai, and Group Co-CEO, Rajnish Kumar, expressed satisfaction with the company's performance. They attributed the strong financial outcomes to ixigo's commitment to enhancing customer experience and expanding market share across key verticals despite challenging market conditions.
Looking ahead, ixigo remains focused on leveraging technological advancements and strategic initiatives to sustain its growth momentum and further strengthen its position in India's competitive online travel market.
This financial success positions ixigo as a pivotal player in India's travel and hospitality industry, poised for continued growth and innovation in the coming years.
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Published on April 15, 2025
Monday Hotels, the emerging hospitality brand catering to the modern-day traveler, has reported a strong first quarter in 2025. With an average occupancy of 75% across its eight operational properties, the brand credits its success to a growing number of direct bookings, repeat guests, and its promise of delivering value-driven stays.
Launched in 2023, Monday Hotels has made a name for itself by blending smart design and full-service amenities with a warm, personalized guest experience. Its brand philosophy, "We Value You," has resonated with both business and leisure travelers seeking quality and comfort at affordable prices in key city locations.
“We're extremely pleased with the performance in Q1,” shared Salim Shaikh, Co-Founder of Monday Hotels. “The response from our guests affirms our belief that business travel doesn't have to compromise on comfort or experience. Our team remains focused on driving consistent service, operational efficiency, and guest satisfaction.”
Looking ahead, the brand is preparing to expand its footprint with upcoming properties in Hyderabad and Bengaluru, scheduled for launch in Q2 and Q3 of 2025. With a sharp eye on growth in Tier 2 and Tier 3 cities, Monday Hotels aims to redefine affordable luxury in markets that are often overlooked.
As the brand continues to scale, it stays rooted in its mission to offer thoughtfully curated experiences that strike the right balance between practicality and premium comfort.
Published on April 4, 2025
Wendor, a leading innovator in smart vending solutions, has raised $2.5 million (INR 21 crore) in a strategic investment from Elanpro, a market leader in commercial refrigeration equipment. The funding, structured as a mix of equity (INR 5 crore) and debt (INR 16 crore), will fuel Wendor’s AI-driven retail automation, operational expansion, and global market entry.
The fresh capital will enhance Wendor’s AI vending technology, focusing on:
Speaking on the milestone, Lakshit Anand, Founder & CEO of Wendor, stated:"This investment marks a turning point in Wendor’s mission to revolutionize automated retail. With Elanpro’s financial backing and operational expertise, we are well-positioned to execute an ambitious expansion strategy across India and internationally. Our focus on AI-driven innovation will redefine vending as a smarter, more efficient, and engaging retail experience."
The partnership grants Wendor access to Elanpro’s robust service infrastructure, including:
Sanjay Jain, Director of Elanpro, expressed enthusiasm about the collaboration:"We are excited to support Wendor’s growth journey. Our extensive service network, import-export capabilities, and dealer partnerships will provide Wendor the operational muscle needed to scale efficiently. This partnership strengthens Wendor’s position in India while setting the stage for global expansion."
To strengthen its market presence, Wendor plans to launch ten experience centers across key metro and Tier-1 cities in the next two months, showcasing:
Beyond India, Wendor is targeting international expansion, with a focus on the Middle East and Southeast Asia as key growth markets.
Wendor has already secured major collaborations, including:
Founded in 2021 by Lakshit Anand, Wendor is a pioneering provider of AI-driven vending and automated retail solutions in India. The company focuses on digital payments, mobile integration, and smart vending technology, shaping the future of retail automation.
Published on March 12, 2025
Wyndham Hotels & Resorts, the world's largest hotel franchising company, has continued its rapid expansion across Europe, the Middle East, Eurasia, and Africa (EMEA) in 2024. With 83 new contracts signed and over 50 hotels opened, the company has added more than 6,400 rooms to its portfolio, strengthening its presence in high-growth markets such as France, India, Spain, Türkiye, and Portugal.
This growth contributed to Wyndham’s 5% year-over-year increase in its global development pipeline, which now stands at a record 252,000 rooms worldwide. The EMEA region alone achieved 10% RevPAR growth, further demonstrating the strength of Wyndham’s brand portfolio and its commitment to supporting hotel owners through its Owner First™ approach to franchising.
"Wyndham's strong momentum in 2024 underscores the strength of our diverse brand portfolio and growing regional demand. We continue to strengthen our presence in key markets across EMEA while expanding into high-growth segments such as extended stay and branded residences. Our expansion in upscale segments, including Dolce by Wyndham in Europe, India, and the UAE, offers exciting opportunities for our business partners. As we grow, our focus remains on delivering long-term value through our Owner First strategies and providing exceptional experiences for travelers."
— Dimitris Manikis, President EMEA, Wyndham Hotels & Resorts
Wyndham remains the largest international hotel company in Türkiye, with 120+ hotels across 40+ cities. Key 2024 openings include:
The Ramada by Wyndham brand continued its strategic expansion with notable 2024 openings, including:
Wyndham expanded its Ramada Encore brand across EMEA to cater to the growing midscale market. New openings in 2024 include:
Dolce by Wyndham, a leader in luxury and MICE (Meetings, Incentives, Conferences, and Exhibitions) hotels, continues to grow with two major openings:
Wyndham is bringing its Microtel by Wyndham brand to India in collaboration with NILE Hospitality. The brand will debut in 2025, with plans to open 40 Microtel hotels across Tier-2, 3, and 4 cities by 2031.
Wyndham is working with The Lakhani Group to launch new hotels, including:
Wyndham is set to launch multiple branded residences, including:
Wyndham’s growth is backed by its $325 million investment in next-gen property management systems and digital innovations. With a global network of 114 million enrolled Wyndham Rewards members, the company continues to drive occupancy and revenue for its franchisees.
As international tourism demand rises in 2025, Wyndham remains focused on strategic expansion, strengthening its presence in key markets, and delivering exceptional guest experiences.
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