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Datum Charts

Air Growth Stabilizes While Hotels and Bus Segments Continue to Lead Structural Expansion for MakeMyTrip

After two years of triple-digit rebound, MakeMyTrip’s growth has normalized. While air ticketing stabilizes, hotels and bus bookings continue to grow faster, underscoring the platform’s evolution from a recovery story to a steady, multi-segment growth engine.

,   and  Datum Intelligence
1 min read

Table of Contents

After two years of extraordinary post-pandemic recovery, MakeMyTrip’s category-level growth has stabilized to pre-COVID levels.

  • FY22–FY23 saw a sharp rebound, with air ticketing (+113%), hotels & packages (+93%), and bus ticketing (+96%) doubling YoY.
  • Growth moderated in FY24–FY25 as the base expanded, with all segments growing ~18–27% annually.
  • In H1 FY26, air bookings rose +1.8%, while hotels (+12.7%) and bus (+34.1%) maintained positive traction, reflecting resilient leisure and regional travel demand.

What It Means

  • Growth normalization: The platform has transitioned from a recovery-led to a structural growth phase, driven by steady demand and repeat transactions.
  • Category divergence: Air ticketing has matured, while hotels and bus ticketing continue to expand, benefiting from premium travel recovery and deeper Tier-2 adoption.
  • Sustained engagement: The mix suggests a more predictable, diversified growth pattern - balancing volume-driven air bookings with high-margin non-air verticals.

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