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MakeMyTrip adds UK's largest hotel chain to strengthen hotel portfolio
'The addition of Premier Inn further strengthens MakeMyTrip's international hotel portfolio with a brand known for its scale, reliability and value, offering Indian travellers more relevant choices across key cities in the United Kingdom,' the company said in a release.
The platform has been expanding its international hotel supply through a direct contracting strategy focused on high-demand outbound destinations.
'In the past year, the platform has added over 2,000 directly contracted hotels across 50 cities in 20 countries. These 50 cities collectively account for more than half of India's outbound travel,' the release added.
'Over the past 12 months, we have pursued a focused strategy to deepen our international accommodation offerings across key hubs, particularly in long-haul markets such as the UK, Europe, and the USA. These initiatives are beginning to show results, with a steady uptick in the value contribution of international stays on our platform,' said Rajesh Magow, co-founder and group chief executive officer, MakeMyTrip.
Premier Inn aims to grow visibility in India
According to the company, the online travel market is expected to grow to $60 billion by 2030 from the current $12 billion.
'Connecting with MakeMyTrip is an exciting addition to our OTA partnerships and growth. It will drive increased awareness across India and surrounding markets for us, giving travellers even more opportunity to benefit from our unrivalled number of hotels across the UK, Germany and Ireland,' said Tim Sleep, director of sales and distribution at Premier Inn.
The OTA player recently reported its results for the first quarter of the financial year 2026 (Q1FY26), with an 11 per cent year-on-year (Y-o-Y) increase in net profit to $49,429 from $44,523. Revenue from operations grew 5.6 per cent Y-o-Y to $268,846.
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The Hindu
16 minutes ago
- The Hindu
Prajwal Parajuly hates Chennai's airport, cabs and parks. What about the weather?
As accusations go, this is one I am not particularly ashamed of: readers say I am far too positive about Chennai in this column. They point out that, like a gleeful part-time resident who absconds just when the temperatures become unbearable, I choose to focus only on the food, festivals and the finer things. They do have a point. My column has been insufferably upbeat. Chennai, like every city, has its share of issues. Readers have demanded that I talk about them in the same vein as I do the chutneys at Murugan Idli. To embrace Chennai living further, I have eschewed the Madras Club for a weekend rental at one of the four Seaward Roads. My flat is part of a charming two-storied house on a tree-lined street. Some days, Pagir, a community art space that's housed in the building, hosts rehearsals in the living room, and I wake up to the sounds of thumping feet and singing conches. My place is a short jaunt to the beach, which I seldom take advantage of. Valmiki Nagar is a cute neighbourhood —mom-and-pop shops still thrive, the idli places are inviting, and the four Seaward Roads are somewhat walkable. Not all houses have been torn down, and the community WhatsApp group is a delight as long as you stay away from arguments about stray dogs. Now that I have a little slice of Chennai to call my own, I have unearthed a set of somewhat-first-world irritations with this city I mostly adore. It begins the minute I get off the plane. My biggest problem with Chennai is its airport. Back when I was a starry-eyed teenager in America, I often wondered if airports in India would ever catch up with those in the West. (How naïve I must have been to even consider western airports a yardstick when the Changis of the world were already being spoken about in breathless tones.) Here we are, though, a mere two decades later, smug about our world-class terminals in Bengaluru and Delhi and Mumbai being better than almost anything in America. The Chennai airport, unfortunately, is where your confidence in Indian airports goes to die. The international wing is dated, ugly and abysmally connected. We do have a direct flight to London, unlike Kolkata, but that does not negate the fact that our airport is far inferior infrastructurally. When Kolkata is outdoing you in terms of development, you know you're not just woefully behind but doing something completely wrong. If that's the international terminal, the domestic would look ancient in 1980s Delhi. In what metro — nay, in what city — is it acceptable to join a mile-long line after you have retrieved your luggage so a wobbly golf cart can haul you to a carpark that's only slightly farther than Sri Lanka? What pinches harder is that the neighbourhood is populated with exemplary airports. Hyderabad has the most efficient airport I have encountered in the country. And the Bengaluru airport is, of course, the Leela Palace meets the Arashiyama Bamboo Forest meets the Eden Project. Ah! Bengaluru. Chennaiites will never admit it, but Bengaluru is a city they view with a mix of envy and schadenfreude. A Chennai-verses-Bengaluru argument always results in platitudes about our having the beach so what if they have the weather. We are safer and less polluted but also less diverse. Sure, Bengaluru outperforms us when it comes to restaurants and pubs, but it is also worse in terms of traffic congestion and pollution. Our rival definitely trumps us in matters of tree cover and pedestrian-friendliness. We are becoming greener than before, but Bengaluru far surpasses us in walkability. I cannot even sugarcoat this: Chennai is the worst city for pedestrians in the country. I am struck by the scarcity of parks and gardens. I am contemplating a membership at the Theosophical Society Library just so I can use its grounds for walks. The good people there reading this: invite me for a talk and grant me membership. I'll read and walk. I'll walk and read. I'll read, walk and talk. When you can't use walking as transportation, you are forced to drive or get driven everywhere. The drawback, though, is that Chennai Ubers are the least professional I have seen in the country. The waiting times are awful (more awful than anywhere else in India), and the cancellations are rampant (more frequent than anywhere else in India). I have come to the sad conclusion that Uber works better in Tier-2 cities than it does here. I should, of course, try the city's bus network, which I have been told is superb. Superb is how I'd describe my rather youthful foray into Rapido. I hope it doesn't go the way of Uber, whose shenanigans here, more than anywhere else, continue to shock me. Only in Chennai have I been confronted with a phenomenon (it has happened about five times, so I am surprised I haven't come up with a name for it yet) where the driver asks that I cancel my Uber as soon as I get in the car. The idea is for me to pay him the same amount the app would charge me and for him to avoid paying the Uber commission. Now, I am all for any deviousness that involves sticking it to a gazillion-dollar conglomerate, but imagine being asked to participate in this song-and-dance when you're already late for your flight? It doesn't help nerves that said flight is from the Chennai airport. So, yes, dear readers, I do have complaints about this city I love: the lacklustre airport, the lack of walkability and Uber's lackadaisical service. Not the weather? you marvel. It's a humid city. So what? Suck it up and eat an ice-cream. Prajwal Parajuly is the author of The Gurkha's Daughter and Land Where I Flee. He loves idli, loathes naan, and is indifferent to coffee. He teaches Creative Writing at Krea University and oscillates between New York City and Sri City.
Economic Times
16 minutes ago
- Economic Times
Tariff worries trigger rupee's steepest fall in nearly three months
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Indian rupee posted its steepest one-day drop since May and hit a five-month low on Wednesday, hurt by worries over steep U.S. tariffs on Indian exports alongside dollar demand from foreign banks and rupee hit a low of 87.5125 against the U.S. dollar before closing at 87.42, down 0.7% on the said that while the Reserve Bank of India likely stepped in to support the local currency, the intervention was not very aggressive.A 20%-25% tariff may be imposed on India's exports in the absence of a trade deal and as the Asian country holds off on offering fresh concessions ahead of Friday's deadline, Reuters reported on Tuesday.U.S. President Donald Trump said on Tuesday that a trade deal with India had not been finalised and higher tariffs were tariff threats, the psychological impact of the rupee breaching the 87 mark, and urgency among importers to hedge before the August 1 deadline has weighed on the rupee, said Dilip Parmar, a foreign exchange analyst at HDFC conditions remain the same, the rupee could fall below 88 in the coming weeks, Parmar said. The local unit had hit an all-time low of 87.95 in addition to trade uncertainty, persistent foreign portfolio outflows have also been a pain point for the rupee. Overseas investors have net sold over $1.5 billion of local stocks in among importers and the absence of inflows have kept the currency under pressure and that may persist in the near-term, a trader at a foreign bank Asian currencies were trading mixed and the dollar index was little changed at 98.8 as investors await the Federal Reserve's policy decision later in the Fed is widely expected to keep rates unchanged, with the focus on commentary from Chair Jerome Powell and whether the decision is unanimous.
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Business Standard
16 minutes ago
- Business Standard
Rupee hits five-month low on US tariff warning, oil spike; ends at 87.42/$
The Indian Rupee weakened to its lowest level in over five months on Wednesday as sentiment soured following higher-than-expected tariff remarks by the US President and a surge in oil prices. The domestic currency closed 60 paise lower at 87.42 against the dollar on Wednesday, the lowest level since February 28 this year, according to Bloomberg. The local unit has depreciated 1.9 per cent so far this month and 2.12 per cent in this calendar year so far. This is so far the worst monthly fall since September 2022, when it fell 2.32 per cent. The weakness in currency came after Trump's statement that India may face a tariff rate of 20 to 25 per cent. He, however, cautioned that the final levy still was not finalised. India is racing to finalise a trade deal with the US as the 1 August deadline approaches. Officials from both countries are engaged in continuous negotiations, although major disagreements remain unresolved. Rupee traded weak, breaching the 87.40 mark as rising crude prices and a stronger dollar index weighed on sentiment, according to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. Market participants remain cautious ahead of the US Federal Reserve's policy announcement tonight, with additional key US data lined up this week likely to keep volatility elevated, he said. "The rupee is expected to trade within a broader range of 87.00-87.70." Adding to the downward pressure are persistent foreign portfolio investor (FPI) outflows from Indian equities, with capital being redirected toward developed markets that are currently trading at record highs, analysts noted. FPIs have sold Indian equities for the seventh straight session in the secondary market, according to data from NSE. On Tuesday, FPIs offloaded stocks worth ₹4,636.60 crore. In the last seven sessions, global funds have sold stocks worth ₹24271.98 crore. The dollar index is poised for the best month this year, with the measure of the greenback against a basket of six major currencies, down 0.05 per cent at 98.83.
