Paytm Travel claims to have a base of around 13 million customers, a threefold increase over the user base in FY17. While significant, it is but a fraction of Paytm's wallet user base of more than 300 million.
As regular promotional discounts and offers rolled out by well-funded apps determine the demand trend, online hospitality aggregators face growing discontent from restaurants and hotels over commissions and pricing power.
Issues like high insurance cost and the announced price hike effective January could also weigh on sales in 2019. The only bright spot is the softening seen in fuel prices over the past month.
'Tourism is growing between 10% to 12%.'
The slowdown in growth is an industry-wide trend and companies are adjusting production to bring down the inventory levels at plants as well as dealerships.
Dipak Haksar, bottom, left, chief executive, ITC Hotels and WelcomHotels, tells Ajay Modi that FY19 is going to be a year of strong growth, and tariffs are likely to see a substantial improvement in the fourth quarter
Large number of buyers has put purchases on hold because of a combination of factors, including high fuel prices, higher insurance cost, and firm interest rates.
Market leaders Maruti Suzuki and Hyundai, who together control two-thirds of the domestic market, have not yet firmed up a decision on raising prices.
Factors like high fuel prices, higher insurance cost and firm interest rates kept buyers away, especially in case of passenger vehicles.
The key beneficiary of this expansion in the motorcycle market happens to be Bajaj Auto.
The increase in bookings has also meant a significant reduction in overall costs for the online travel agencies and a consequent narrowing of losses.
However, the company has claimed its vehicles are 'compliant' with the country's emission norms and that it will 'challenge' the tribunal's order.
From April 2020, manufacturers will have to hike prices of diesel cars sharply to accommodate the costs incurred in the transition to BS VI emission norms, and widening the gap between a diesel and petrol car.
Ghosh, 43, will be reporting to 25-year-old Ritesh Agarwal, who founded OYO with a single hotel in 2013.
The move comes after Neeraj Kanwar's reappointment as managing director was rejected by minority shareholders owing to his salary, which increased in spite of a fall in the company's profitability.
With multiple options in the compact sport utility vehicle (SUV) and compact sedan space, the mid-size sedan seems to be losing its charm among customers.
Navratri and Onam saw flat sales, but industry hopes to turn the corner with a cracker of a Diwali.
Tata Motors, however, will not be able to meet this small demand and keep the Nano alive from October next year, when safety regulations for existing car models kick in.
Scooters, once the fastest growing sub-segment, also declined for the second consecutive month in September.
The data shows the average room rate of two-star hotels increased by 8.5 per cent in FY18, even though it lagged on occupancy at 61.8 per cent, down 1.4 per cent year-on-year
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