India-based Yatra Online announced Thursday that it is capitalizing on a period of geopolitical disruption to deepen its position in the corporate travel market. The company noted that international travel has declined as a portion of its overall business, now representing less than 30% compared to approximately 40% previously.
The shift reflects broader headwinds in the travel industry stemming from regional conflicts and their impact on business operations. The war with Iran has contributed to connectivity challenges, elevated airfare costs, and prompted corporations to exercise greater restraint regarding discretionary travel spending.
Rather than retreating from the market downturn, Yatra is pursuing an expansion strategy focused on the domestic corporate segment. The company is investing in its corporate technology platform, scaling Travel Pro to serve smaller business clients, and extending its technological capabilities into the Middle East through a partnership arrangement with Kanoo Travel.
Early indicators suggest the market may be stabilizing. Meetings, incentives, conferences, and events (MICE) bookings during the first half of the second quarter showed approximately 50% growth compared to the first quarter performance. CEO Siddhartha Gupta stated that the business has successfully adapted as international group travel activity has redirected toward domestic destinations and shorter-haul itineraries, positioning the company for future growth as conditions normalize.
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