Yatra.com (NASDAQ: YTRA), India’s leading online travel company,
highlighted growth in Air bookings from Tier 2/3 markets (all cities
apart from the top 8 cities) in India. Yatra’s data analysis revealed
that Air bookings growth in Tier 2/3 cities in 2016 outpaced overall Air
market growth in the region and is instrumental in India being the
fastest growing domestic air market in the world - clocking over 20%
y-o-y growth, each month through 2016 - as per IATA data released
earlier this week. According to IATA, this growth momentum continued
into January that saw a 26.6% y-o-y growth.
As the total available market for air travel in India continues to
expand largely due to capacity increases (current and planned) from
Domestic airlines and demand growth from Tier 2/3 cities, along with
Government initiatives around regional connectivity, we expect the
Indian air market to remain at the forefront of global air growth in the
near-medium term. Yatra’s data analysis shows that the top 3 Tier 2/3
markets in 2016 were Goa, Kochi and Guwahati, with Goa, India’s favorite
tourist destination, taking the top spot amongst these markets.
Commenting on the same, Mr. Dhruv Shringi, CEO, Yatra.com said, “We are
not surprised to see India being highlighted as the fastest growing Air
travel market in the recent IATA report. Yatra continues to be an
important part of this growth trend, which is driven by Tier 2/3 markets
with mobile bookings leading the way. We continue to see a shift in
growth to the Tier 2/3 markets. With IATA projecting India to be the
third largest aviation market by 2026, we see a long runaway of growth
for players like us who are focused on the Indian traveler. We are
tapping this new set of customers through strategic alliances to
increase our reach as well as investing significantly in mobile
technology, which is increasingly becoming the platform of choice for
travel bookings.”
Yatra Online, Inc., the parent company of Yatra.com, recently listed on
the NASDAQ under the ticker YTRA. Yatra has the largest inventory of
over 62,000 hotels in India and is also one of the biggest homestay
aggregators with over 3000 homestays across 130 cities within India.
About Yatra Online, Inc and Yatra Online Pvt Ltd
Yatra Online, Inc is the parent company of Yatra Online Pvt Ltd which is
based in Gurgaon, India and is one of India’s leading online travel
companies and operates the website Yatra.com. The company provides
information, pricing, availability, and booking facility for domestic
and international air travel, domestic and international hotel bookings,
holiday packages, buses, trains, in city activities, inter-city and
point-to-point cabs, homestays and cruises. As a leading platform of
accommodation options, Yatra provides real-time bookings for more than
62,000 hotels in India and over 500,000+ hotels around the world.
Customers can access Yatra in multiple ways: through a user-friendly
website, mobile optimised WAP site and applications, a multi-lingual
call centre, a countrywide network of Holiday Lounges and Yatra Travel
Express stores.
Launched in August 2006, Yatra was ranked the Most Trusted e-Commerce
Travel Brand in India in the Economic Times Brand Equity Survey 2016 for
the second successive year, and has won the award for ‘First Prize -
Domestic Tour Operator (Rest of India)’ at the India Tourism Awards held
in July 2016.
Safe Harbor Statement:
This press release contains certain statements concerning the Company’s
future growth prospects and forward-looking statements, as defined in
the safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on the
Company’s current expectations, assumptions, estimates and projections
about the Company and its industry. These forward-looking statements are
subject to various risks and uncertainties. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “will,” “project,” “seek,” “should” and similar
expressions. Such statements include, among other things, management’s
beliefs as well as our strategic and operational plans. Forward-looking
statements involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ materially from
those contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to, the slow-down of economic
growth in India and the global economic downturn, general declines or
disruptions in the travel industry, volatility in the trading price of
our shares, our reliance on our relationships with travel suppliers and
strategic alliances, failure to further increase our brand recognition
to obtain new business partners and consumers, failure to compete
against new and existing competitors, failure to successfully manage
current growth and potential future growth, risks associated with any
strategic investments or acquisitions, seasonality in the travel
industry in India and overseas, failure to successfully develop our
corporate travel business, damage to or failure of our infrastructure
and technology, loss of services of our key executives, and inflation in
India and in other countries. These and other factors are discussed in
our reports filed with the U.S. Securities and Exchange Commission. All
information provided in this press release is provided as of the date of
issuance of this press release, and we do not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.

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