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MakeMyTrip’s Revenue Mix Shifts as Hotels and Bus Segments Gain Share Amid Stable Air Contribution

MakeMyTrip’s air ticketing business has stabilized near 60% of total bookings, while hotels, packages, and buses now contribute over 40%. This mix evolution signals a strategic shift toward a diversified, full-stack travel platform driven by premium and regional demand.

Table of Contents

MakeMyTrip’s category mix has remained relatively stable post-pandemic, but the contribution from non-air segments continues to strengthen.

  • Air ticketing accounted for ~61% of total bookings in FY25, roughly unchanged from pre-pandemic levels, indicating steady core travel demand.
  • Hotels and packages rose to ~25% of total gross bookings, reflecting sustained recovery in premium and leisure travel.
  • Bus ticketing maintained a 13–16% share, underscoring the platform’s depth in value-focused, regional mobility.
  • In H1 FY26, non-air segments contributed ~42% of bookings, highlighting a more balanced growth mix.

What It Means

  • Diversified engine of growth: MakeMyTrip has evolved from an air-led platform to a multi-vertical ecosystemserving both premium and value segments.
  • Resilience through portfolio balance: Stability in air ticketing, combined with expansion in hotels and bus bookings, provides structural insulation against category-specific slowdowns.
  • Premium travel traction: The growing share of hotels and packages reflects a shift toward higher-margin, experience-driven travel - a key driver of profitability and repeat engagement.

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