The next time you visit a luxurious Taj Hotel property and soak in the grandeur of 3-floor high ceiling and expensive artefacts around you, spare a thought for that rather nondescript web aggregator which you visited on your 5.5-inch mobile phone screen to make the booking.
The next time you visit a luxurious Taj Hotel property and soak in the grandeur of 3-floor high ceiling and expensive artefacts around you, spare a thought for that rather nondescript web aggregator which you visited on your 5.5-inch mobile phone screen to make the booking. Behind the grandeur, this new-age booking aggregator — MakeMyTrip — is actually bigger than the 115-year old Indian Hotels — the company which operates Taj Hotels. Yes, you heard it right, the 18-year-old hotel aggregator Make My Trip is bigger than the 115-year-old veteran in the business of hospitality Indian Hotels, the parent company of Taj Hotels Resorts and Palaces.
Indian Hotels Company Ltd commands a markets capitalisation of Rs 15,151.15 crore as per the closing share price of Rs 127.4 on Bombay Stock Exchange. While, on the other hand, Nasdaq-listed Make My Trip commands a market cap of Rs 19,975.73 crore. Interestingly, shares of Tata group’s hotel business company Indian Hotels Company Ltd market their stock market debut way back around the year 2000 whereas Make My Trip was founded in 2000.
The Founder CEO Deep Kalra controls Make My Trip while Indian Hotels Company Ltd is led by CEO Puneet Chhatwal with a much-distinguished Chairmanship N Chandrashekharan and carry’s a legacy of the renowned Tata group with business magnates and leaders such as Ratan Tata and J.R.D. Tata. Indian Hotels Company Ltd was founded in the year 1903 by Jamsedji Tata.
Shares of Indian Hotels Company Ltd have returned about 150% and the stock of Make My Trip had risen about 134% in the last 5 years. Earlier this month, Tata Sons bought about 6.64% shares of Indian Hotels Company Ltd from three Tata Trust entities namely Sir Dorabji Tata Trust, Lady Tata Memorial Trust and Sir Ratan Tata Trust. The acquisition was done as part of restructuring the investment portfolio.