Yatra Online CEO Dhruv Shringi recently integrated New Distribution Capability (NDC) into the company’s booking system with the aim of making air travel bookings smoother for corporate customers. NDC, developed by the International Air Transport Association (IATA), offers travelers a more flexible and transparent booking experience. This integration with Yatra’s Self Booking Tool enables corporate travelers to access more flight options, better prices, and real-time seat availability, helping them find the best deals and make smarter decisions when booking flights. The direct connection with airlines streamlines the process, making travel planning easier for companies.
According to the Global Business Travel Association (GBTA), the corporate travel spending in India increased by nearly 25% in 2023 and is expected to reach $38 billion in 2024 with a full recovery to pre-Covid levels anticipated by 2025. Online travel companies like Yatra are looking to capitalize on this surge in corporate travel. MakeMyTrip also reported significant growth in its corporate travel business and crossed the $200 million gross booking milestone. Yatra’s recent acquisition of Globe All India Services (Globe Travels) is aimed at expanding its corporate customer base in India and strengthening its market position.
Yatra has been focusing on growing its corporate travel profile, appointing a new chief business officer for new business development and making strategic acquisitions to enhance its market presence. The company’s corporate travel segment has shown promising growth amidst a 5% quarterly revenue decline in its latest reported earnings. Shringi hinted at laying off over 100 employees as a cost-cutting initiative due to intensifying price competition in the consumer business. By investing in corporate travel and enhancing its booking system, Yatra is positioning itself to meet the increasing demand for business travel in India.
The integration of NDC into Yatra’s booking system allows corporate travelers to receive personalized offers that match their needs, see more detailed flight choices, and compare prices more efficiently. This gives businesses the ability to make informed decisions and optimize their travel budgets. With the direct connection with airlines, users can access real-time seat availability, ensuring a smoother booking process. Yatra’s effort to cater to the corporate travel segment reflects the growing significance of this market in India and the opportunities it presents for online travel agencies.
Yatra’s acquisition of Globe Travels, a corporate travel services provider, adds to its portfolio of corporate customers and annual gross bookings, strengthening its position in the market. The company’s focus on expanding its corporate travel offerings and appointing key personnel in this segment highlights its commitment to capitalizing on the growth potential in the business travel sector. By enhancing its booking system and streamlining the process for corporate customers, Yatra is aligning itself with the evolving needs of businesses in India and positioning itself as a key player in the corporate travel space.
The increasing demand for business travel in India, coupled with the recovery in corporate travel spending post-pandemic, presents a lucrative opportunity for online travel agencies like Yatra. By integrating NDC into its booking system, expanding its corporate travel portfolio, and making strategic acquisitions, Yatra is positioning itself for growth in the corporate travel segment. With a focus on providing a seamless booking experience for corporate customers, Yatra aims to become a preferred choice for businesses looking to plan and optimize their travel arrangements.
