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MakeMyTrip announces new feature hoping to target SME corporates

MakeMyTrip, India’s largest online travel company, announced the launch of a new service known as “MyBusiness”, which looks to tap into the growing small and medium-sized enterprises’ corporate travel business.

The main objective of MyBusiness is to make the payment process smoother while reducing any chances of corporate card abuses. This will be facilitated by dedicated corporate help desks, which will be available at the company’s service 24×7.

In addition, it will also allow the companies to save up to 18% of the total travel costs, which can be reclaimed as GST credit, according to MakeMyTrip. MyBusiness will allow last-minute cancellations and modifications in flight and hotel bookings, along with complimentary in-flight meals.

Rajesh Magow, CEO and co-founder of MakeMyTrip, added instead of reaching out to companies directly, the company is tapping its existing active users for MyBusiness to propagate it in their companies and amongst their officials, as indicated by this Economic Times report. He also added that around 2500 companies have expressed interest in adopting the product for both flight and hotel needs.

Competitors 

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Meanwhile, competitor, Yatra announced the acquisition of Air Travel Bureau, a corporate travel service provider, in July this year. It will also have to contend with online travel agency Goomo, which was launched this year. Goomo recently concluded the integration of Orbit Corporate & Leisure Travels, a company it merged with in November 2015. Orbit is a company with a long history and expertise in specialist travel services such as Trade Fairs, MICE and holidays.

Financials

The Nasdaq-listed online travel operator had reported a net loss of $68.45 million, according to financial disclosures released earlier this month. This was due to consolidation of the GoIbibo acquisition, which lead to massive increases in personnel and marketing costs. These reports came after a fresh round of funding earlier this year, which raised $330 million for MakeMyTrip.

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