Latest news with #TripcomGroup
Zawya
7 days ago
- Business
- Zawya
ATM highlights APAC's tourism role, projected at $2.5trln by 2029
The Asia-Pacific (APAC) region is poised for significant tourism growth, with spending on international travel forecast to hit $2.5 trillion and domestic travel to reach $4.3 trillion by 2029, according to the latest data from Euromonitor International. Outbound travel from APAC is projected to grow at a CAGR of 7%, with intra-regional journeys expected to account for 61% of all trips by the end of 2025. By 2029, one in three trips is anticipated to be outside the APAC region, with 75% of bookings set to be made online. A high-impact panel discussion at Arabian Travel Market (ATM), brought together top industry minds to explore the future of travel in the APAC region. Moderated by Mingie Wang, Chief Correspondent at China Daily, the panel discussed traveller behaviour, digital transformation, and the resurgence of outbound travel, particularly from China, providing fascinating insights into this key global market. Panelists included Alhasan Aldabbagh, President of APAC Markets, Saudi Tourism Authority; Gary Bowerman, Founder of Check-in Asia; Boon Sian Chai, Managing Director and Vice President of International Markets at Group; and Shahab Shayan, Regional Director Asia Pacific at Department of Economy and Tourism. During the session they highlighted a shift in purchasing decisions across the APAC region, driven by experiential travel, digitalisation, and a growing desire for cultural immersion. Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said: 'More than 60% of travellers are booking trips around concerts and sporting events, while over 40% are influenced by digital platforms such as TikTok. Interestingly, film and television are also playing a significant role, evidenced by a rise in bookings to Thailand following the popularity of The White Lotus.' According to a recent report compiled by Tourism Economics on behalf of ATM, tourism nights from Asia Pacific and Africa are on track to more than double between 2025 and 2030. The number of tourism nights, specifically from China to the Middle East, is expected to grow by 189% through 2030, and APAC source markets are set to account for the largest share of business nights in the region, with India, in particular, gaining importance. In addition, travellers from APAC record the highest spend per person per day globally, at a rate of $300, across various tourism sectors, including accommodation, food and beverage, and retail. This high level of expenditure is mainly driven by Chinese travellers whose strong purchasing power continues to shape global travel trends. The Dubai Economic Agenda, D33, is key to ensuring the emirate's strategic success in APAC markets, with a focus on market segmentation and storytelling. By tailoring messaging for platforms such as the video-sharing website Bilibili and the social networking and e-commerce platform Red Note, and leveraging strong air links through carriers like Emirates and flydubai, Dubai's tourism authorities continue to position the city as a relevant, accessible, and aspirational destination for travellers across Asia. As a newcomer to APAC tourism markets, Saudi Arabia has adopted a highly localised approach, as outlined during the discussion. Recognising the diversity of the region, which comprises 49 distinct countries, tourism authorities in the Kingdom study each source market closely, from dietary preferences to cultural nuances, tailoring travel experiences accordingly. This strategy is supported by partnerships with media, trade, and research bodies to ensure that Saudi Arabia's offerings resonate authentically with travellers across the region. Curtis added: 'Technology is playing an increasingly pivotal role in travel decision-making across the APAC region, with consumers relying heavily on digital tools, social media, and AI. Mobile-first planning is transforming how travellers research and book trips, although the digital landscape varies significantly from country to country. One constant across the region is the importance of trust, particularly in peer-generated content, which continues to influence traveller choices at every stage of the journey.' Panellists also cited sustainability as a key consideration for younger generations in the APAC region, with research from indicating that 30-40% of Gen Y and millennial travellers are willing to pay more for eco-friendly travel. For these consumers, sustainability extends beyond carbon offsets and environmental protection, encompassing support for local culture and heritage. ATM is a leading global event held annually in Dubai, which enables growth for the travel and tourism industry. Uniting all travel sectors and verticals, the event generates $2.5 billion in business deals. The next edition of ATM will take place at the Dubai World Trade Centre from May 4 to 7, 2026. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Yahoo
23-06-2025
- Business
- Yahoo
MakeMyTrip Announces Closing of Offering of US$1.25 billion 0.00% Convertible Senior Notes Due 2030 and Full Exercise of Option to Purchase Additional Notes
NEW YORK & GURUGRAM, India, June 23, 2025--(BUSINESS WIRE)--MakeMyTrip Ltd (NASDAQ: MMYT, the "Company" or "MakeMyTrip"), today announced the closing of its previously announced offering of US$1.25 billion in aggregate principal amount of 0.00% convertible senior notes due 2030 (the "Notes"), and the exercise in full by the initial purchasers of their option to purchase an additional US$187.5 million in aggregate principal amount of the Notes (collectively, the "Notes Offering"). The Notes were offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company also announced today by a separate press release the closing of a registered public offering of 16,000,000 ordinary shares (the "Primary Equity Offering") at US$90 per ordinary share. The underwriters exercised in full their option to purchase 2,400,000 additional ordinary shares. MakeMyTrip received net proceeds from the Notes Offering of approximately US$1.41 billion, after deducting the initial purchasers' discounts and estimated offering expenses payable by the Company. The Company plans to use all of the net proceeds from the Notes Offering and the Primary Equity Offering to repurchase a portion of the Class B ordinary shares of the Company from Group Limited. Terms of the Notes The Notes are senior unsecured obligations of the Company. The Notes will mature on July 1, 2030 unless redeemed, repurchased or converted prior to such date. The Notes will be convertible into ordinary shares of the Company, at the option of the holders, in integral multiples of US$1,000 principal amount, at any time prior to the close of business on the second business day preceding the maturity date. The initial conversion rate of the Notes is 8.2305 ordinary shares per US$1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately US$121.50 per ordinary share and represents a conversion premium of approximately 35% above the public offering price of the ordinary shares, which was US$90 per ordinary share). The conversion rate of the Notes is subject to adjustment upon the occurrence of certain events. On or after July 10, 2028, MakeMyTrip may redeem for cash all or part of the Notes, at its option (such redemption, an "Optional Redemption"), if (x) the Notes are "freely tradable" (as defined in the indenture for the Notes) and all accrued and unpaid special interest, if any, has been paid in full, as of the date the Company sends the notice of redemption and (y) the last reported sale price of MakeMyTrip's ordinary shares has been at least 130% of the conversion price then in effect on (i) each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately prior to the date MakeMyTrip provides notice of redemption and (ii) the trading day immediately preceding the date MakeMyTrip sends such notice. MakeMyTrip may also redeem for cash all but not part of the Notes at any time if less than 10% of the aggregate principal amount of Notes issued remains outstanding at such time ("Cleanup Redemption"). In addition, MakeMyTrip may redeem all but not part of the Notes in the event of certain changes in the tax laws ("Tax Redemption"). The redemption price in the case of a Tax Redemption, an Optional Redemption or a Cleanup Redemption will equal 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the related Redemption Date. Holders of the Notes will have the right, at their option, to require the Company to repurchase for cash all or part of their Notes, on July 3, 2028 at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased plus accrued and unpaid special interest, if any. In addition, subject to certain conditions and a limited exception, holders of the Notes will have the right to require the Company to repurchase all or part of their Notes upon occurrence of certain events that constitute a fundamental change. In connection with certain corporate events or if the Company issues a notice of Optional Redemption, Cleanup Redemption or Tax Redemption, it will, under certain circumstances, increase the conversion rate for holders who elect to convert their Notes in connection with such corporate event or such Optional Redemption, Cleanup Redemption or Tax Redemption. Other Matters Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes or the ordinary shares, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Primary Equity Offering was made only by means of a separate prospectus supplement and accompanying prospectus pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission. The Notes and the ordinary shares deliverable upon conversion thereof have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and are being offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Forward-Looking Statements This document contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this document, including but not limited to, statements about MakeMyTrip's goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of MakeMyTrip, and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "anticipate," "expect," "suggest," "plan," "believe," "intend," "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of MakeMyTrip, which involve inherent risks and uncertainties, and therefore should not be relied upon as being necessarily indicative of future results. A number of factors, including macro-economic, industry, business, regulatory and other risks, could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: MakeMyTrip's ability to grow at the desired rate or scale and its ability to manage its growth; its ability to further develop its business, including new products and services; its ability to attract and retain partners and consumers; its ability to compete effectively in the intensely competitive and constantly changing market; its ability to continue to raise sufficient capital; its ability to reduce net losses and the use of partner and consumer incentives, and to achieve profitability; potential impact of the complex legal and regulatory environment on its business; its ability to protect and maintain its brand and reputation; general economic, social, and political conditions, currency exchange fluctuations and inflation; expected growth of markets in which MakeMyTrip operates or may operate; and its ability to defend any legal or governmental proceedings instituted against it. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described under "Item 3. Key Information – D. Risk Factors" and in other sections of MakeMyTrip's annual report on Form 20-F for the fiscal year ended March 31, 2025, as well as in other documents filed by MakeMyTrip from time to time with the U.S. Securities and Exchange Commission. All information provided in this release is provided as of the date of issuance of this release, and MakeMyTrip does not undertake any obligation to update any forward-looking statement, except as required under applicable law. About MakeMyTrip Limited We own and operate well-recognized online travel brands, including MakeMyTrip, Goibibo and redBus. Through our primary websites, and mobile platforms, travelers can research, plan and book a wide range of travel services and products in India and overseas. Our services and products include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, bus ticketing, rail ticketing, car hire and ancillary travel requirements such as facilitating access to third-party travel insurance, forex services, and visa processing. We provide our customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, a comprehensive set of domestic accommodation properties in India and a wide selection of properties outside of India, Indian Railways, and all major Indian bus operators. View source version on Contacts For more details, please contact: Mohit KabraGroup Chief Financial OfficerMakeMyTrip Limitedgroupcfo@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-06-2025
- Business
- Yahoo
MakeMyTrip Announces Closing of Primary Offering of Ordinary Shares and Full Exercise of Option to Purchase Additional Ordinary Shares
NEW YORK & GURUGRAM, India, June 23, 2025--(BUSINESS WIRE)--MakeMyTrip Ltd (NASDAQ: MMYT, the "Company" or "MakeMyTrip"), today announced the closing of its previously announced underwritten registered public offering of 16,000,000 ordinary shares of the Company, par value US$0.0005 per share (the "Primary Shares"), at an offering price of US$90 per share, and the exercise in full by the underwriters of their option to purchase 2,400,000 additional ordinary shares (collectively, the "Primary Equity Offering"). The Company also announced today by a separate press release the closing of an offering of 0.00% convertible senior notes in an aggregate principal amount of US$1.25 billion due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and the exercise in full by the initial purchasers of their option to purchase an additional US$187.5 million in aggregate principal amount of the Notes (collectively, the "Notes Offering"). MakeMyTrip received net proceeds from the Primary Equity Offering of approximately US$1.62 billion, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company plans to use all of the net proceeds from the Primary Equity Offering and the Notes Offering to repurchase a portion of the Class B ordinary shares of the Company from Group Limited. Other Matters Nothing in this press release shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes or the Primary Shares, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Primary Equity Offering was made only by means of prospectus supplement and accompanying prospectus pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the "SEC"). Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC acted as joint book-running managers for the Primary Equity Offering. The Company filed an automatic shelf registration statement on Form F-3 with the SEC. A preliminary prospectus supplement and the related base prospectus describing the terms of the Primary Equity Offering were filed with the SEC. The final prospectus supplement for the Primary Equity Offering was filed with the SEC. The Primary Equity Offering was made only by means of the prospectus supplement and accompanying base prospectus. You may obtain these documents free of charge by visiting EDGAR on the SEC website at Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting: (i) Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or (ii) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone: 866-803-9204 or by email: at prospectus-eq_fi@ Forward-Looking Statements This document contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this document, including but not limited to, statements about MakeMyTrip's goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of MakeMyTrip, and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "anticipate," "expect," "suggest," "plan," "believe," "intend," "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of MakeMyTrip, which involve inherent risks and uncertainties, and therefore should not be relied upon as being necessarily indicative of future results. A number of factors, including macro-economic, industry, business, regulatory and other risks, could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: MakeMyTrip's ability to grow at the desired rate or scale and its ability to manage its growth; its ability to further develop its business, including new products and services; its ability to attract and retain partners and consumers; its ability to compete effectively in the intensely competitive and constantly changing market; its ability to continue to raise sufficient capital; its ability to reduce net losses and the use of partner and consumer incentives, and to achieve profitability; potential impact of the complex legal and regulatory environment on its business; its ability to protect and maintain its brand and reputation; general economic, social, and political conditions, currency exchange fluctuations and inflation; expected growth of markets in which MakeMyTrip operates or may operate; and its ability to defend any legal or governmental proceedings instituted against it. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described under "Item 3. Key Information – D. Risk Factors" and in other sections of MakeMyTrip's annual report on Form 20-F for the fiscal year ended March 31, 2025, as well as in other documents filed by MakeMyTrip from time to time with the U.S. Securities and Exchange Commission. All information provided in this release is provided as of the date of issuance of this release, and MakeMyTrip does not undertake any obligation to update any forward-looking statement, except as required under applicable law. About MakeMyTrip Limited We own and operate well-recognized online travel brands, including MakeMyTrip, Goibibo and redBus. Through our primary websites, and mobile platforms, travelers can research, plan and book a wide range of travel services and products in India and overseas. Our services and products include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, bus ticketing, rail ticketing, car hire and ancillary travel requirements such as facilitating access to third-party travel insurance, forex services, and visa processing. We provide our customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, a comprehensive set of domestic accommodation properties in India and a wide selection of properties outside of India, Indian Railways, and all major Indian bus operators. View source version on Contacts For more details, please contact: Mohit KabraGroup Chief Financial OfficerMakeMyTrip Limitedgroupcfo@ Sign in to access your portfolio
Bloomberg
23-06-2025
- Business
- Bloomberg
MakeMyTrip Seeks Over $2 Billion in Shares, Convertible Sale
MakeMyTrip Ltd. is seeking to raise more than $2 billion in concurrent sales of shares and convertible bonds, as the US-listed Indian travel firm aims to buy back a stake held by Group Ltd. The Gurugram, India-based company is offering 14 million new shares, and is also seeking to raise $1.25 billion from the sale of zero-coupon convertible bonds, according to a statement Monday.
Al Bawaba
19-06-2025
- Business
- Al Bawaba
Arabian Travel Market underscores the vital role of Asia Pacific in the future of tourism as international travel is set to reach US$2.5 trillion by 2029
The Asia-Pacific (APAC) region is poised for significant tourism growth, with spending on international travel forecast to hit US$2.5 trillion and domestic travel to reach US$4.3 trillion by 2029, according to the latest data from Euromonitor travel from APAC is projected to grow at a CAGR of 7%, with intra-regional journeys expected to account for 61% of all trips by the end of 2025. By 2029, one in three trips is anticipated to be outside the APAC region, with 75% of bookings set to be made online.A high-impact panel discussion at Arabian Travel Market (ATM), brought together top industry minds to explore the future of travel in the APAC region. Moderated by Mingie Wang, Chief Correspondent at China Daily, the panel discussed traveller behaviour, digital transformation, and the resurgence of outbound travel, particularly from China, providing fascinating insights into this key global included Alhasan Aldabbagh, President of APAC Markets, Saudi Tourism Authority; Gary Bowerman, Founder of Check-in Asia; Boon Sian Chai, Managing Director and Vice President of International Markets at Group; and Shahab Shayan, Regional Director Asia Pacific at Department of Economy and the session they highlighted a shift in purchasing decisions across the APAC region, driven by experiential travel, digitalisation, and a growing desire for cultural Curtis, Exhibition Director ME, Arabian Travel Market, said: 'More than 60% of travellers are booking trips around concerts and sporting events, while over 40% are influenced by digital platforms such as TikTok. Interestingly, film and television are also playing a significant role, evidenced by a rise in bookings to Thailand following the popularity of The White Lotus.'According to a recent report compiled by Tourism Economics on behalf of ATM, tourism nights from Asia Pacific and Africa are on track to more than double between 2025 and 2030. The number of tourism nights, specifically from China to the Middle East, is expected to grow by 189% through 2030, and APAC source markets are set to account for the largest share of business nights in the region, with India, in particular, gaining addition, travellers from APAC record the highest spend per person per day globally, at a rate of US$300, across various tourism sectors, including accommodation, food and beverage, and retail. This high level of expenditure is mainly driven by Chinese travellers whose strong purchasing power continues to shape global travel Dubai Economic Agenda, D33, is key to ensuring the emirate's strategic success in APAC markets, with a focus on market segmentation and storytelling. By tailoring messaging for platforms such as the video-sharing website Bilibili and the social networking and e-commerce platform Red Note, and leveraging strong air links through carriers like Emirates and flydubai, Dubai's tourism authorities continue to position the city as a relevant, accessible, and aspirational destination for travellers across a newcomer to APAC tourism markets, Saudi Arabia has adopted a highly localised approach, as outlined during the discussion. Recognising the diversity of the region, which comprises 49 distinct countries, tourism authorities in the Kingdom study each source market closely, from dietary preferences to cultural nuances, tailoring travel experiences accordingly. This strategy is supported by partnerships with media, trade, and research bodies to ensure that Saudi Arabia's offerings resonate authentically with travellers across the added: 'Technology is playing an increasingly pivotal role in travel decision-making across the APAC region, with consumers relying heavily on digital tools, social media, and planning is transforming how travellers research and book trips, although the digital landscape varies significantly from country to country. One constant across the region is the importance of trust, particularly in peer-generated content, which continues to influence traveller choices at every stage of the journey.'Panellists also cited sustainability as a key consideration for younger generations in the APAC region, with research from indicating that 30-40% of Gen Y and millennial travellers are willing to pay more for eco-friendly travel. For these consumers, sustainability extends beyond carbon offsets and environmental protection, encompassing support for local culture and heritage. ATM is a leading global event held annually in Dubai, which enables growth for the travel and tourism industry. Uniting all travel sectors and verticals, the event generates US$2.5 billion in business deals. The next edition of ATM will take place at the Dubai World Trade Centre from May 4 to 7, 2026.
