skift take
— Ashvita Singh
CMS Information Systems, which provides logistics and technology solutions, announced consumption trends for the first half of 2024 (October 2023 to March 2024). During this period, the aviation and hospitality industries showed annual growth of 29.7% and 12.8%, respectively. The CMS report noted that travel demand is increasing, especially during events like the Cricket World Cup.
Cricket World Cup: India hosted the Men’s Cricket World Cup 2023 for the first time in 12 years from October 5 to November 19, 2023, and the travel industry benefited. Skift reports that searches for lodging in host cities on game days have increased by an average of 237% over the past year. The always-awaited India vs Pakistan match and World Cup final was held in Ahmedabad. As a result, the city emerged as the top choice, with the number of lodging searches increasing by 1,702%.
The UK, US, Singapore, Australia, and Malaysia topped the rankings for inbound searches during this period. According to OTA Insight’s inbound flight search data from October to November 2023, flight searches increased significantly in the months leading up to the World Cup compared to his 2022.
wedding season: Marriage was another way the airline and hospitality industries benefited. Indians consider weddings to be grand events. According to the Confederation of All India Traders (CAIT), 3.5 million weddings took place between November 23 and December 15. This brings the estimated business for this wedding season to 4.25 trillion rupees ($51 billion).
Expansion of personnel: TeamLease Services, an Indian staffing conglomerate, recently released its latest ‘TeamLease Employment Outlook Report’ for the second half of FY2024. The report also focuses on trends in the travel and hospitality industry. This trend shows how the travel and hospitality sector is showing strong growth in key employment categories. The second half of the financial year saw a gradual headcount expansion of 68%.
Akasa Airlines aims to meet rising travel demand post-pandemic
Airline Akasa Airlines recently welcomed two Boeing 737 MAX 8 aircraft to its growing fleet. With this, the company ended his 2023 calendar year with an aircraft size of 22 aircraft, including 21 Boeing 737 MAX 8 and 1 Boeing 737 MAX 8 200.
Will there be more Kitty planes? Meanwhile, Akasa Airlines is finalizing contracts for about 150 Boeing 737 MAX narrowbody jets, according to a Mint report. The report said negotiations were underway among company executives to secure a favorable agreement.
The formal declaration of the aircraft purchase will be made at Wings India, the country’s largest civil aviation event, scheduled from January 18 to 21. The new order for around 150 aircraft is estimated to include additional options for future purchases, according to information from Reuters.
Prior to this, the airline had booked orders for 76 Boeing 737 MAX aircraft. According to Mint, the newest entrant to the list, Akasa, has gained 4% market share since it began operations in 2022, compared to 60% for IndiGo and 26% for Tata Group airlines. %.
background: Indian airlines are making concerted efforts to meet the surge in demand due to increased travel numbers post-pandemic. In June last year, IndiGo placed an order for 500 Airbus narrowbody jets. Notably, this order exceeds Air India’s purchase of 470 multifunctional jets from Airbus and Boeing earlier this year.
New terminal building constructed at Tiruchirappalli International Airport
The new terminal building at Tiruchirappalli International Airport in Tamil Nadu was inaugurated on Tuesday.
Developed at a cost of more than $150 million, the two-story international terminal building can serve more than 4.4 million passengers annually.
The terminal aims to accommodate approximately 3,500 passengers during peak hours.
The new terminal is expected to significantly increase connectivity to East Asia and the Middle East. The opening of the terminal and the elevated road connecting the airport to the national highway is expected to open new opportunities for investment, business, education, healthcare and tourism.
In other news:
Thiruvananthapuram International Airport will transition to a ‘silent’ airport from January 1, 2024, providing passengers with a noise-free travel experience, as announced in an airport statement on Wednesday.
EbixCash reports 60% growth
EbixCash reported a significant 60% year-on-year growth in its corporate travel business in 2023. During the same period, it added 57 new customers in the large- and mid-cap segments.
In early December last year, Ebix Inc., a financial technology company and parent company of India’s EbixCash, filed for bankruptcy in a North Texas court. Naveen Kundu, managing director of EbixCash Travel Group, later told Skift that the company is “business as usual” and that the U.S. filing will not impact its operations.
Aviation sector performance: The group said its business with low-cost airlines grew by around 40% overall.
- The year-on-year growth rate of the Global Distribution Systems (GDS) sector reached 37%.
- EbixCash Travel reported 33% year-on-year growth due to its partnership with Indigo, a leading LCC airline.
- International passenger traffic for India’s aviation business grew by 52% year-on-year.
MICE and event-based travel: EbixCash Travel maintained its leadership in meetings, incentives, conferences and exhibitions (MICE) and event-based travel, achieving approximately 25% year-on-year revenue growth across India.
- Passenger numbers in the international MICE segment increased by approximately 150% year-on-year.
- The combined domestic and international segments recorded 47% year-on-year growth.
- This growth was primarily driven by an 80% increase in new customer acquisitions throughout 2023.
Inbound business highlights: EbixCash reported year-over-year growth in overall inbound business, with inbound passenger numbers up 287%. The overall revenue growth rate of the inbound business reached 264%.
Bookmark Resorts opens Jogi Mahal at ranthambore
Bookmark Resorts, a luxury hospitality brand, recently opened its second property, Bookmark Jogi Mahal Resort in Ranthambore, Rajasthan. The 40 luxury boutique resort is spread over 3.74 acres. The hotel’s first property was located in Manali, Himachal Pradesh.
Ranthambore in the state of Rajasthan has a national park spread over an area of ​​392 sq km. So are nearby sanctuaries like Mansingh Sanctuary and Kaila Devi Sanctuary. As per the latest available data, Ranthambore National Park receives 431 million visitors annually.
Several hotels and resorts have announced the opening of new properties in India. This is led by InterContinental Hotels Group’s recent signing of a management agreement announcement with XECO Media to build a new Holiday Inn resort in Karjat city, Maharashtra. The resort, scheduled to open in 2027, will add 150 keys to IHG’s portfolio in the state.
India schedule First submarine tour Facilities in Gujarat
Gujarat government has partnered with Mazgaon Dock Limited (MDL) to introduce India’s first submarine tourism. The project aims to study marine life around Bet Dwarka, a small island off the coast of Dwarka city in Gujarat state.
The tourist facility is expected to be operational by Diwali 2024. According to the project, visitors will be taken on board a submarine to experience underwater marine life 100 meters below the surface. Each submarine is led by two professional pilots and a qualified crew and accommodates 24 tourists each.
Dwarka attracts tourists every year due to its religious significance.
Photo credit: Weddings brought in an estimated 4.25 trillion rupees ($51 billion) in business this season.