Co-founder and India CEO Rajesh Magow is replacing Deep Kalra as group CEO of online travel company MakeMyTrip. Kalra is transitioning to the role of Executive Chairman. Magow will focus on driving growth in the three core brands — MakeMyTrip, Goibibo, and Redbus. Kalra will focus on product innovation and expansion, geographic growth, business model innovation, and corporate development. In Q3 FY19-20, gross bookings increased 19% YoY to $1.7 billion, and revenue increased 16% YoY to $147 million. Numbers: Hotels and Packages: Revenue was up 25% YoY growth to $72.9 million Room nights up 21% YoY to $8.4 million. Standalone hotels booked online increased 21% to 8.2 million, fueled by outbound hotels, growth in alternative accommodation, and by growth in domestic hotels business. Growth in the packages segment was driven by better customer targeting, better organisation of products in categories such as honeymoons, adventures, cruises, among other factors. 500,000 international properties listed 72,000 accommodation properties and 19,000 alternative accommodation properties, which include villas, apartments, homestays, hostels, etc. The company partnered with the tourism boards of Madhya Pradesh and Uttarakhand to promote homestays. Air ticketing: Revenue increased 10% YoY to $47.9 million, Flight segments grew more at 15% YoY to 11.6 million. Gross bookings stood at $986.5 million, an increased of 20% YoY. Even though the domestic air industry was impacted by the shutdown of Jet Airways, growth re-accelerated to nearly 6% in Q3 2019, Kalra said. Bus tickets: Sales increased the most out of all segments - at 32%, Revenue…
