MakeMyTrip Records Stellar Growth in FY2024 with Significant Profit and Booking Increases

MakeMyTrip Records Stellar Growth in FY2024 with Significant Profit and Booking Increases

By Nishang Narayan

Published on May 20, 2024

India’s leading travel service provider, MakeMyTrip, has reported exceptional financial results for the fiscal year ending March 31, 2024. Despite the fourth quarter typically being a slower period for leisure travel, the company experienced robust growth across its key financial metrics, reflecting the increased travel demand following the pandemic.

For FY2024, MakeMyTrip reported gross bookings of USD 7,954.4 million, marking a 24.9% increase year-over-year. The revenue, as per International Financial Reporting Standards (IFRS), reached USD 782.5 million, representing a 35.7% growth from the previous fiscal year. These figures showcase the company's strong recovery trajectory and its ability to capitalize on the resurgence of travel interest.

The Adjusted Operating Profit (EBIT) also saw a significant rise, reaching USD 124.2 million for the fiscal year, up from USD 70.3 million in FY23. The Profit for the Period for Q4 FY24 stood at an impressive USD 171.9 million, bolstered by a one-time credit and gain totaling USD 156.7 million.

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Rajesh Magow, Group Chief Executive Officer of MakeMyTrip, expressed his satisfaction with the results, stating, “The enthusiastic response from travelers, both leisure and business, has propelled our growth beyond pre-pandemic levels. Our strategic focus on offering a comprehensive portfolio of travel and ancillary products, tailored to the needs of millions including first-time travelers, has been instrumental in achieving these record-breaking results.”

 In addition to financial gains, MakeMyTrip has observed interesting trends in travel searches for Summer 2024. Family travel has increased by 20%, with domestic destinations like Ayodhya and Lakshadweep gaining significant interest. Internationally, destinations such as Baku, Phuket, and Abu Dhabi are seeing an uptick in search queries, reflecting the global appeal among Indian travelers.

These results not only highlight MakeMyTrip’s successful adaptation in a dynamic market but also indicate a positive outlook for the travel industry’s continued recovery and growth. As the company prepares for the upcoming travel seasons, it remains committed to enhancing its service offerings to meet the evolving preferences of its customers.

For more detailed insights into MakeMyTrip’s financial performance and future plans, visit their official website or contact their investor relations team.

This comprehensive overview of MakeMyTrip’s fiscal achievements in 2024 underscores the company's resilience and innovative approach in adapting to the post-pandemic travel landscape, setting a robust foundation for future growth.


Monday Hotels Reports Strong Q1 Performance, Expands Footprint in 2025

Monday Hotels Reports Strong Q1 Performance, Expands Footprint in 2025

By Nishang Narayan

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.

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“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.


Wendor Secures $2.5M Investment from Elanpro to Drive AI-Powered Vending and Global Expansion

Wendor Secures $2.5M Investment from Elanpro to Drive AI-Powered Vending and Global Expansion

By Nishang Narayan

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.

Driving AI-Powered Retail Innovation

The fresh capital will enhance Wendor’s AI vending technology, focusing on:

  • Camera-Based Product & Quantity Detection – Real-time tracking to improve inventory accuracy.
  •  AI-Powered Demand Forecasting – Consumer behavior analysis to optimize product offerings.
  •  Advanced Automation – Creating a seamless, data-driven retail experience.

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."

Operational Boost from Elanpro’s Service Network

The partnership grants Wendor access to Elanpro’s robust service infrastructure, including:

  • Nationwide Warehousing & Dealer Network – Strengthening service capabilities across India.
  • Import-Export Logistics Support – Facilitating entry into global markets.
  • Integrated Hardware, Software & Refrigeration Expertise – Ensuring reliable maintenance and superior customer experience.

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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."

Scaling Up: Experience Centers & International 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:

  • AI-Based Product Recognition
  • Automated Inventory Tracking
  • Refrigeration-Integrated Vending Technology

Beyond India, Wendor is targeting international expansion, with a focus on the Middle East and Southeast Asia as key growth markets.

Strategic Partnerships & Existing Installations

Wendor has already secured major collaborations, including:

  • Government Partnerships – Installations at Rashtrapati Bhawan, Taj Mahal, and Fatehpur Sikri, in collaboration with NAFED and Uttar Pradesh State Tourism.
  • Brand Tie-Ups – Partnerships with Coca-Cola, Amul, Nivea, Apollo Hospitals, Unilever, and Fortis.

About Wendor

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.


Wyndham Hotels & Resorts Reports Strong Growth Across EMEA in 2024

Wyndham Hotels & Resorts Reports Strong Growth Across EMEA in 2024

By Nishang Narayan

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

Key Growth Highlights Across EMEA

1. Strengthening Presence in Türkiye

Wyndham remains the largest international hotel company in Türkiye, with 120+ hotels across 40+ cities. Key 2024 openings include:

  • Days Inn by Wyndham Alanya – A modern, budget-friendly resort along the Mediterranean coast.
  • Boreas Hotel, Trademark Collection by Wyndham – The first Trademark Collection hotel in Ankara, offering a contemporary stay in the capital.
  • Wyndham Garden Cambasi – A picturesque retreat in the Black Sea highlands of Ordu.

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2. Expanding Ramada Across the Middle East & South Asia

The Ramada by Wyndham brand continued its strategic expansion with notable 2024 openings, including:

  • Ramada by Wyndham Ahmedabad Narendra Modi Stadium Motera – Ideally located inside Narendra Modi Stadium.
  • Ramada by Wyndham Kathmandu Dhumbarai – A premium hotel near UNESCO World Heritage Sites.
  • Ramada Resort by Wyndham Gilgit – A luxury resort in Gilgit’s growing tourism hub.

3. Meeting Midscale Demand with Ramada Encore

Wyndham expanded its Ramada Encore brand across EMEA to cater to the growing midscale market. New openings in 2024 include:

  • Ramada Encore by Wyndham Konya Karatay (Türkiye)
  • Ramada Encore by Wyndham Rajbagh Srinagar (India) – A serene riverside getaway.
  • Ramada Encore by Wyndham Bhiwadi Phool Bagh Chowk (India) – Strategically located in an industrial hub.
  • Ramada Encore by Wyndham Viramgam (India) – A full-service hotel in Ahmedabad’s business district.

4. Expanding Dolce by Wyndham in the Upscale & MICE Segments

Dolce by Wyndham, a leader in luxury and MICE (Meetings, Incentives, Conferences, and Exhibitions) hotels, continues to grow with two major openings:

  • Dolce by Wyndham Barcelona Resort – A luxury golf retreat in Spain’s Penedès wine country.
  • Dolce by Wyndham Çeşme Alaçatı – The brand’s first Turkish resort, located on the Aegean coast.

Future Expansion Plans

1. Introducing Microtel by Wyndham in India

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.

2. Strengthening Presence in Portugal

Wyndham is working with The Lakhani Group to launch new hotels, including:

  • Wyndham Garden Alentejo Alcácer do Sal
  • Wyndham Residences Lisbon Loures
  • L Hotels Fátima, Trademark Collection by Wyndham
    (Opening in 2025)

3. Expanding Branded Residences Portfolio

Wyndham is set to launch multiple branded residences, including:

  • Wyndham Grand La Cala Golf Residences (Costa del Sol, Spain – April 2026)
  • Wyndham Residences Piraeus (Greece – December 2025)
  • Ramada Residences by Wyndham Halkidiki (Greece – May 2026)

The Wyndham Advantage: Technology & Rewards

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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