Online hotel bookings in India to more than double by next year: ICRA

According to the report around 8.4 million Indians are likely to book hotels online by 2016. Photo: Mint

Online hotel bookings in India are expected to jump two-fold by 2016 due to the increasing penetration of the internet and smart phones, according to a report.

According to the report, titled the Emergence of Online Travel Agents, by rating agency ICRA Ltd, around 8.4 million Indians are likely to book hotels online by 2016, up from 3.5 million in 2014.

“The deepening penetration of internet usage and smart phones in India has led to increased booking of hotels through online portals and applications in recent times,” said the report.

Travellers are increasingly using the internet to research and book flight tickets and hotel accommodation, swapping traditional travel agents for online travel agents, it added.

This is also expected to push the size of the Indian online hotel industry to $1.8 billion by next year from the current $0.8 billion.

At present online bookings account for 16% of the hotel booking and this is expected to grow to 25% by 2016.

At present, Makemytrip has a 47% share of the total online hotel booking market while the rest is shared Cleartrip, yatra.com and Goibibo, according to the report.

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This article was first published on Livemint.com

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.