Yatra Online has stepped up its corporate travel services by incorporating the New Distribution Capability (NDC) into its booking system, promising a more streamlined booking experience.
With significant growth in India’s corporate travel spending, Yatra is poised to leverage this trend by integrating NDC, making the process more flexible and transparent for clients.
Streamlining Corporate Travel
Owing to the integration of NDC, Yatra promises a more seamless interaction with airlines, thereby optimising the booking process for businesses. This innovation eliminates the need for hopping across platforms, simplifying the task of trip planning, and making it more efficient.
Through direct airline connections, businesses can enjoy easy access to a plethora of flight options, ensuring they find the best deals quickly. The transparency and flexibility inherent in the NDC system are poised to redefine the corporate booking experience.
The Surge in Corporate Travel in India
The corporate travel sector in India has witnessed remarkable growth, with spending rising by nearly 25% in 2023, approaching levels observed before the pandemic. Industry projections suggest a full recovery by 2025.
Online travel agencies are capitalising on this boom. Cleartrip’s launch of a corporate travel management product and MakeMyTrip’s reported milestone in gross bookings reflect the sector’s dynamism.
Yatra’s Strategic Moves
Yatra is actively fortifying its corporate travel segment. Its recent acquisition of Globe All India Services for $15.25 million marks a strategic expansion.
This acquisition will augment Yatra’s portfolio by adding 360 corporate customers and an additional $90 million in annual gross bookings. This move is seen as a significant step towards bolstering its market presence.
Earlier, Yatra appointed Gaurav Luthra as chief business officer for new business development, highlighting its focus on strengthening corporate travel services.
Despite challenges in consumer travel due to pricing competition, Yatra’s corporate segment remains robust, showcasing a promising growth trajectory.
Facing Market Challenges
Yatra’s CEO, Dhruv Shringi, has remarked on the impact of fierce pricing pressures from carriers like IndiGo, which have affected revenue streams. These challenges are a part of the competitive landscape.
Implementing cost-cutting measures, including potential layoffs of over 100 employees, Yatra is navigating the complex travel market dynamics. The focus remains on mitigating risks while enhancing value propositions.
Navigating through these hurdles, Yatra continues to invest in technology and strategic partnerships to maintain its edge in the corporate travel sphere.
Advantages of NDC for Corporate Clients
The NDC booking system elevates the travel experience for corporate clients by offering more comprehensive flight choices. Detailed options and personalised offers ensure businesses can make informed decisions.
Real-time seat availability with competitive pricing enhances decision-making efficiency for corporate travellers.
By integrating these capabilities into its Self Booking Tool, Yatra ensures that clients receive tailored travel options that align with their specific needs and budgets.
Market Outlook and Future Directions
The future of corporate travel in India appears promising, with expectations of sustained growth. Companies like Yatra are well-positioned to take advantage of these opportunities.
Yatra’s commitment to innovation and strategic partnerships underscores its efforts to remain competitive in an evolving market.
Concluding Thoughts
Yatra has demonstrated resilience and strategic foresight in enhancing its corporate travel services amid industry challenges. The integration of NDC is a pivotal advancement, streamlining the travel experience for corporate clients.
Yatra’s strategic integration of NDC reflects its dedication to advancing corporate travel experiences, positioning itself as a leader in the dynamic travel market.