Easy Trip Planners , operating under the brand name EaseMyTrip and one of India's leading online travel platforms, has announced a strategic partnership with MoEngage, a customer data and engagement platform, to enhance its marketing capabilities and improve customer retention. This collaboration marks a significant step in EaseMyTrip's customer-centric approach, as the company aims to transition from broad-based digital communication to personalized traveler engagement.

Enhancing Customer Experience

EaseMyTrip, which boasts over 30 million customers globally, is set to leverage MoEngage's Customer Data and Engagement Platform (CDEP) to unify customer data from multiple sources. This integration will enable the creation of a comprehensive 360-degree view of each traveler, allowing for real-time personalized cross-channel journeys.

Sanchit Chopra, Chief Marketing Officer of EaseMyTrip, emphasized the importance of this move, stating, "Our primary goal is to build lasting relationships with our customers, and to do this at scale, we need a unified view of their entire journey. Adopting a CDEP approach with a powerful platform like MoEngage is a critical step."

Driving Business Growth

The partnership is designed to address key business objectives, including:

• Improving repeat bookings
• Increasing ancillary revenue
• Maximizing customer lifetime value

By consolidating customer data and acting on insights in real-time, EaseMyTrip aims to drive these crucial metrics while enhancing overall customer satisfaction.

A Data-Driven Approach

Raviteja Dodda, CEO of MoEngage, highlighted the significance of this collaboration, saying, "Leading brands like EaseMyTrip are moving beyond siloed tools to a more holistic Customer Data and Experience Platform model. We are proud that our platform will provide both the unified data foundation and the multichannel engagement engine to help EaseMyTrip achieve its ambitious growth objectives."

EaseMyTrip's Market Position

EaseMyTrip has established itself as a major player in the online travel industry:

• One of India's largest online travel platforms for air ticket bookings
• Grown at a 47% CAGR in profits before tax during FY20-24
• Offers end-to-end travel solutions including air tickets, hotels, holiday packages, and ancillary services
• Provides access to over 400 international and domestic airlines and more than 2 million hotels

Looking Ahead

As EaseMyTrip continues to expand its reach and enhance its services, this partnership with MoEngage represents a strategic move towards more personalized and efficient customer engagement. By leveraging advanced data analytics and engagement tools, EaseMyTrip is positioning itself to better serve its growing customer base and strengthen its competitive edge in the dynamic travel-tech industry.

Easy Trip Planners , the online travel company operating under the brand EaseMyTrip, saw its shares decline by 4.2% to Rs 8.81 following the release of its quarterly results. The company reported a significant drop in profitability for the first quarter of the fiscal year.

Financial Performance

Easy Trip Planners experienced a sharp decline in its financial performance for the quarter:

The company's profit after tax plummeted by 98.7%, falling from Rs 33.93 crore in the same quarter last year to a mere Rs 0.44 crore. Revenue from operations also saw a significant decrease, dropping to Rs 113.79 crore from Rs 152.60 crore in the corresponding quarter of the previous year.

Strategic Acquisitions

Despite the challenging quarter, Easy Trip Planners announced three strategic acquisitions aimed at expanding its presence in the hospitality sector and enhancing its domestic operations:

1. Three Falcons Notting Hill Limited: The company acquired a 50% stake in this entity, which owns the boutique hotel 'The Knight of Notting Hill' in London.

2. AB Finance Private Limited: A 100% acquisition of this company for a commercial property in Gurugram.

3. Strategic Alliance with Vashu Bhagnani Industries Limited: Details of this alliance were not specified in the provided information.

These acquisitions will be executed through share swap arrangements, indicating the company's strategy to expand without immediate cash outflows.

Management Commentary

Nishant Pitti, Chairman of Easy Trip Planners, commented on the strategic moves, stating that they aim to create engaging traveler experiences while building future value. He highlighted the company's focus on the global hospitality industry, which is projected to grow from USD 5.71 trillion to USD 7.23 trillion by 2029.

Market Reaction

The market reacted negatively to the quarterly results, with Easy Trip Planners' shares dropping 4.2% to Rs 8.81. This decline reflects investor concerns over the sharp fall in profitability and reduced revenue.

Outlook

While the company faces short-term challenges as evidenced by the quarterly results, the strategic acquisitions suggest a long-term vision for growth and diversification. The success of these moves and the company's ability to navigate the current financial headwinds will be crucial for its future performance in the competitive travel and hospitality sector.

Investors and analysts will likely be watching closely to see how these strategic initiatives impact the company's financial performance in the coming quarters, especially given the significant drop in profitability in the current period.