homebusiness NewsEaseMyTrip envisions hotel business reaching breakeven or profitability in near future
EaseMyTrip envisions hotel business reaching breakeven or profitability in near future
The travel industry, like many others, has faced unprecedented challenges due to the global pandemic. However, the gradual easing of travel restrictions and the revival of tourism are gradually steering the industry toward a path of recovery.
Easy Trip Planners (EaseMyTrip.com) expects the hotel business to reach a breakeven point or even turn profitable in the second quarter of the fiscal year 2023-24 (Q2FY24). This positive projection indicates a potential upswing in the company's financial performance within the coming quarters.
Established in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti, Easy Trip is an Indian-based digital travel company. The company's headquarters are located in New Delhi. Their services encompass hotel reservations, flight bookings, vacation packages, bus reservations, and white-label offerings. EaseMyTrip also operates internationally, with offices in Singapore, the UAE, the Maldives, and Thailand. The company has tailored websites for specific countries like the UAE, the UK, and Thailand.
The travel industry, like many others, has faced unprecedented challenges due to the global pandemic. However, the gradual easing of travel restrictions and the revival of tourism are gradually steering the industry toward a path of recovery. Easy Trip Planners, as a prominent player in the online travel space, is strategically positioning itself to capitalise on these emerging opportunities.
In an interview with CNBC-TV18, Prashant Pitti, one of the co-founders of Easy Trip Planners spoke about the company's future prospects and strategic outlook. The discussion revolved around the travel industry's recovery and Easy Trip Planners' position within this evolving landscape.
He said, “In Q2, we are expecting our hotel business to become profitable or breakeven, again.”
Regarding the hotel business, Pitti stated that for the forthcoming Q2, the company envisions its hotel operations to attain profitability once again or reach a breakeven point. Easy Trip's hotel division experienced notable year-on-year growth of 123 percent, contributing to a slight increase in discounts for both flight and hotel reservations. Nonetheless, the company has integrated this scenario into its strategies for the present quarter and holds a positive outlook for achieving exceptionally favourable outcomes.
As the travel sector continues to adapt and evolve, Easy Trip Planners' approach to innovation and adaptability appears to be shaping its journey toward renewed growth and profitability. The projected positive developments in the hotel business segment further reinforce the company's commitment to navigating the post-pandemic landscape with resilience and determination.
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