Cleartrip gains 2nd-largest market share as OTA, B2B topline grows over 2X

  • IANS
  • Stock Market News
Cleartrip gains 2nd-largest market share as OTA, B2B topline grows over 2X
Credit: © Reuters.

New Delhi, July 3 (IANS) Cleartrip, a Flipkart company, on Monday said it has cemented its position as the second-largest online travel agency (OTA) player in the country, as travel returns to normal post-pandemic.An OTA benchmarking research by boutique advisory and analytics firm VIDEC revealed that Cleartrip saw industry-leading growth in FY23 and strengthened its position in the segment.

“Travel is a massive industry that has witnessed rapid growth and is expected to scale further heights. We believe that we are in the right position to innovate and bring about disruption through technology,” said Ayyappan R, CEO, Cleartrip.

“This is a new chapter for Cleartrip and by no means the end destination,” he added.

Cleartrip’s B2B topline grew more than 2 times on the back of the launch of new tools providing a seamless booking experience for our partners.

“We will continue to curate value-led constructs, expand our product categories, innovate on behalf of our customers, and make travel an affordable and accessible aspiration for all,” said Ayyappan.

Since the Flipkart acquisition, Cleartrip has continued to invest in customer-centric offerings, like a 24-hour refund policy that resulted in an industry-leading NPS score.

Cleartrip said it saw a 60 per cent rise in bookings (which is 2 times over what was achieved during the same period last year) across categories.

“Led by the OTAs, the India travel market has made a resounding recovery to $48.7 billion in FY23 and is estimated to reach $72.4 billion in FY26. Air would continue to be the largest travel category at $21.8 billion in FY23,” said Virendra Jain, Co-Founder and CEO at VIDEC.

--IANS

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