How is your company dealing with the slowdown?
We are looking to see where cost takeouts can be done without too much pain. These are on facilities, so we are renegotiating a lot of our contracts including bandwidth, at times including rental. Travel and entertainment is a no-brainer.
 |
| Deep Kalra Founder & CEO, MakeMyTrip.com |
Do you think the time is good to acquire companies at low valuations? Are you looking at acquisition?
The company that one acquires should be right. One has to understand that acquisition is not something that you do and that is it. The easiest thing in an acquisition is to make up your mind; the toughest thing is to consummate the acquisition. One has to realize that a lot of bandwidth would get used up in the process. One has to look if that bandwidth would be better used in aligning yourself to company goals.
We have been on the lookout for a while; that hasn’t changed. The cost of money is higher. But it has to be a spectacular company. The good news is that things might get cheaper, but the bad news is that even our cost of capital is higher. So the last thing that I’m going to do is go out and raise money again
The Mumbai terror attacks have hit the travel industry badly. How do you see the recovery happening?
That blip was short. Flights to and from Mumbai plummeted 41 percent in two days, but then limped back to normalcy within five days. Business does go on, with Mumbai being a business destination. I think what has been hit the most is inbound travel holidays.
What should entrepreneurs do during the slowdown?
These are tough times, and getting funding for an idea for pre-revenue businesses will be hard. Try to make sure that your revenues are aligned to costs as much as possible. But spending a lot of money on branding is not a great idea. Funding will be difficult to get. The cost of money will be much higher.
This interview was done on the sidelines of TiE summit 2008, Bengaluru
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written by Hong Kong Vacations, January 29, 2011
Feel better after reading this all the comments...
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written by Manish Agrawal, January 16, 2010
Has anyone noticed how long they out the customer on hold if you opt for ticket cancellation! 15- 20 minutes is a general average and that too most of the time the call is hung up after that.It looks like Mr. Kalra and his company is totally focused on inflows and then holding what all has come in till the customer gets fed up or holding the line
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written by Jatin, December 07, 2009
All,
The experience I have had with makemytrip folks has been by far the worst ever customer service that I have experienced or heard of! I must've talked to about 8 different support individuals at makemytrip.com over 28 hours period, on the phone most of the time, and to my amazement none of them focused on addressing the original request of reissuing the ticket and getting a new e-ticket number in a timely manner.
I can't help but believe that all these folks I talked to at makemytrip.com were incompetent in reissuing a new e-ticket number, but I'm also very tempted to believe that there was some other internal policy that encouraged all these folks to refrain from providing a new e-ticket number... all this for some personal gain at the expense of the customer - my mother in this particular case! It's a shame that it took about 28 hours for the 8+ folks at their end to simply reissue the ticket and provide a new e-ticket number, despite numerous requests from myself and the ticketing agents to provide the same! Makemytrip.com has deeply troubled my mother and I doubt she will ever be comfortable traveling international again. All the other family members and friends have also been concerned with all this to the extent that we will definitely not do or recommend anybody to do business with makemytrip.
I thought it necessary to let the world know of the impression makemytrip has imprinted on one customer and their family and friends. It's a shame that such companies are thriving despite their incompetency and total disregard to the customer whose money they are building their lives off of.
If there are zero changes to your originally issued ticket, you may be fine, but if there is any change, and you need assistance from makemytrip.com, they will most likely put you through hell!!!
Below is my email to Customer Care at makemytrip.com, to which they conveniently decided not to respond or comment on, but I'm not surprised. If any of you folks want the full story, feel free to email me at jatin_patro@hotmail.com and I will be glad to share the details and names of the makemytrip folks I talked to.
----------------------------------------
Dear Customercare (@makemytrip.com),
I am providing you feedback on my experience with the makemytrip (800-463-4210).
I had purchased a round-trip ticket from makemytrip.com for my mother to travel from India to visit me in the US. On the day of her originally scheduled return (Dec 2, 2009) from Portland (PDX) to Vishakhapatnam (VTZ), all her flights were confirmed. At the time of check-in at the PDX airport on Dec. 2nd, we were told at the ticketing counter that they were unable to view or print the ticket due to the following message on their computer: "9W ETKT - Display restricted by 9W".
The ticketing agent told us that the ticket needed to be "re-issued" and they needed a "new e-ticket number" to resolve the issue. They called makemytrip.com and I also called makemytrip.com separately to request the same. We had about 2 hours before the flight departure, but unfortunately the makemytrip folks did not reissue the ticket as requested and my mother missed the original flight. There was another flight a couple hours later the same day and I hoped that we could get a new eticket number at least by then, but again makemytrip folks failed to do that. In the process, to my amazement, while most others were relatively polite, one of the female representatives at makemytrip actually hung up the phone on the ticketing agent in frustration! The effect of this incompetence was not on the ticketing agent, but on the customer - my mother. After several hours on the phone and after missing the 2nd flight, I requested the tickets be reissued for the next day and was clearly told by them that they will provide me the new e-ticket number.
We went home and I was on the phone with makemytrip.com for several more hours the rest of the day, asking for the reissued ticket and the new eticket number. In the end, the schedule was changed to the next day with LH752 waitlisted, but I was provided with the exact same e-ticket number as the one that had caused the issue in the beginning. The next morning, before heading out to the airport I asked them and they confidently said that there will be no issues and that I should go to the airport and then check-in, rather than attempting to check-in online at home. I reached the airport a couple hours earlier than the flight again. To my disappointment, the issue from the previous day was still not resolved. The ticketing agent again clearly stated that they needed a new e-ticket number. I passed on this message again very clearly to makemytrip folks, but unfortunately despite repeatedly mentioning that my mother is old and traveling on wheelchair assistance, and couldn't stay legally in the US another day, they still did not issue a new eticket number and she again missed the scheduled flight. I then asked them to let me speak with their supervisor, but they wouldn't let me. Finally, after much more time, one of the supervisors called me gave me a new e-ticket number for a different flight the same day. This resolved the original issue and the ticketing agent could now print the ticket. However, the time between the connecting flights in Frankfurt was not enough and my mother missed the connecting flight from Frankfurt. She had no choice but to be seated in wheelchair with no food or any other assistance from the airline for another 24 hours. On top of that, when she reached Shamshabad, she was asked to pay for the ticket to VTZ 'cause they couldn't find her reservation. I called the airlines directly and got this resolved in the end.
The experience I have had with makemytrip folks has been by far the worst ever customer service that I have experienced or heard of! I must've talked to about 8 different support individuals at makemytrip.com over 28 hours period, on the phone most of the time, and to my amazement none of them focused on addressing the original request of reissuing the ticket and getting a new e-ticket number in a timely manner. I can't help but believe that all these folks I talked to at makemytrip.com were incompetent in reissuing a new e-ticket number, but I'm also very tempted to believe that there was some other internal policy that encouraged all these folks to refrain from providing a new e-ticket number... all this for some personal gain at the expense of the customer - my mother in this particular case! It's a shame that it took about 28 hours for the 8+ folks at their end to simply reissue the ticket and provide a new e-ticket number, despite numerous requests from myself and the ticketing agents to provide the same! What the supervisor did after 28 hours is what should've been done right from the beginning. Makemytrip.com has deeply troubled my mother and I doubt she will ever be comfortable traveling international again. All the other family members and friends have also been concerned with all this to the extent that we will definitely not do or recommend anybody to do business with makemytrip.
---------------------------------------
The experience I have had with makemytrip folks has been by far the worst ever customer service that I have experienced or heard of! I must've talked to about 8 different support individuals at makemytrip.com over 28 hours period, on the phone most of the time, and to my amazement none of them focused on addressing the original request of reissuing the ticket and getting a new e-ticket number in a timely manner.
I can't help but believe that all these folks I talked to at makemytrip.com were incompetent in reissuing a new e-ticket number, but I'm also very tempted to believe that there was some other internal policy that encouraged all these folks to refrain from providing a new e-ticket number... all this for some personal gain at the expense of the customer - my mother in this particular case! It's a shame that it took about 28 hours for the 8+ folks at their end to simply reissue the ticket and provide a new e-ticket number, despite numerous requests from myself and the ticketing agents to provide the same! Makemytrip.com has deeply troubled my mother and I doubt she will ever be comfortable traveling international again. All the other family members and friends have also been concerned with all this to the extent that we will definitely not do or recommend anybody to do business with makemytrip.
I thought it necessary to let the world know of the impression makemytrip has imprinted on one customer and their family and friends. It's a shame that such companies are thriving despite their incompetency and total disregard to the customer whose money they are building their lives off of.
If there are zero changes to your originally issued ticket, you may be fine, but if there is any change, and you need assistance from makemytrip.com, they will most likely put you through hell!!!
Below is my email to Customer Care at makemytrip.com, to which they conveniently decided not to respond or comment on, but I'm not surprised. If any of you folks want the full story, feel free to email me at jatin_patro@hotmail.com and I will be glad to share the details and names of the makemytrip folks I talked to.
----------------------------------------
Dear Customercare (@makemytrip.com),
I am providing you feedback on my experience with the makemytrip (800-463-4210).
I had purchased a round-trip ticket from makemytrip.com for my mother to travel from India to visit me in the US. On the day of her originally scheduled return (Dec 2, 2009) from Portland (PDX) to Vishakhapatnam (VTZ), all her flights were confirmed. At the time of check-in at the PDX airport on Dec. 2nd, we were told at the ticketing counter that they were unable to view or print the ticket due to the following message on their computer: "9W ETKT - Display restricted by 9W".
The ticketing agent told us that the ticket needed to be "re-issued" and they needed a "new e-ticket number" to resolve the issue. They called makemytrip.com and I also called makemytrip.com separately to request the same. We had about 2 hours before the flight departure, but unfortunately the makemytrip folks did not reissue the ticket as requested and my mother missed the original flight. There was another flight a couple hours later the same day and I hoped that we could get a new eticket number at least by then, but again makemytrip folks failed to do that. In the process, to my amazement, while most others were relatively polite, one of the female representatives at makemytrip actually hung up the phone on the ticketing agent in frustration! The effect of this incompetence was not on the ticketing agent, but on the customer - my mother. After several hours on the phone and after missing the 2nd flight, I requested the tickets be reissued for the next day and was clearly told by them that they will provide me the new e-ticket number.
We went home and I was on the phone with makemytrip.com for several more hours the rest of the day, asking for the reissued ticket and the new eticket number. In the end, the schedule was changed to the next day with LH752 waitlisted, but I was provided with the exact same e-ticket number as the one that had caused the issue in the beginning. The next morning, before heading out to the airport I asked them and they confidently said that there will be no issues and that I should go to the airport and then check-in, rather than attempting to check-in online at home. I reached the airport a couple hours earlier than the flight again. To my disappointment, the issue from the previous day was still not resolved. The ticketing agent again clearly stated that they needed a new e-ticket number. I passed on this message again very clearly to makemytrip folks, but unfortunately despite repeatedly mentioning that my mother is old and traveling on wheelchair assistance, and couldn't stay legally in the US another day, they still did not issue a new eticket number and she again missed the scheduled flight. I then asked them to let me speak with their supervisor, but they wouldn't let me. Finally, after much more time, one of the supervisors called me gave me a new e-ticket number for a different flight the same day. This resolved the original issue and the ticketing agent could now print the ticket. However, the time between the connecting flights in Frankfurt was not enough and my mother missed the connecting flight from Frankfurt. She had no choice but to be seated in wheelchair with no food or any other assistance from the airline for another 24 hours. On top of that, when she reached Shamshabad, she was asked to pay for the ticket to VTZ 'cause they couldn't find her reservation. I called the airlines directly and got this resolved in the end.
The experience I have had with makemytrip folks has been by far the worst ever customer service that I have experienced or heard of! I must've talked to about 8 different support individuals at makemytrip.com over 28 hours period, on the phone most of the time, and to my amazement none of them focused on addressing the original request of reissuing the ticket and getting a new e-ticket number in a timely manner. I can't help but believe that all these folks I talked to at makemytrip.com were incompetent in reissuing a new e-ticket number, but I'm also very tempted to believe that there was some other internal policy that encouraged all these folks to refrain from providing a new e-ticket number... all this for some personal gain at the expense of the customer - my mother in this particular case! It's a shame that it took about 28 hours for the 8+ folks at their end to simply reissue the ticket and provide a new e-ticket number, despite numerous requests from myself and the ticketing agents to provide the same! What the supervisor did after 28 hours is what should've been done right from the beginning. Makemytrip.com has deeply troubled my mother and I doubt she will ever be comfortable traveling international again. All the other family members and friends have also been concerned with all this to the extent that we will definitely not do or recommend anybody to do business with makemytrip.
---------------------------------------
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written by Ritu , December 07, 2009
Dear Mr. Deepak
I, Ritu Srivastava, has written 35 mails to your company requesting you
to send me my Make My Trip Voucher of amount Rs 5513/ (transaction). I
booked that voucher on 22 October 2009 and so far I have not received that voucher and I am waiting for that. everytime your customer care
executives say the same thing that "They have forwarded my request to
concerned Department and they will get to me within 24 hours". So far,
I have not received a single call from end and moreover they are not
bothered about my voucher. My money has been stuck". They are just
giving me false promises that i will receive voucher within 48 hours.
Last time I spoke to CCEs on 2nd December 2009 and he stated the same
thing. It has more than 45 days. This is sorry to say that I am bugged
with all of sorry and excuses made by your company.
Your company is doing false and cheating the customers. If this a way to provide services, then most customers will see you soon at court.
Disgusting company, disgusting service, and disgusting people
I, Ritu Srivastava, has written 35 mails to your company requesting you
to send me my Make My Trip Voucher of amount Rs 5513/ (transaction). I
booked that voucher on 22 October 2009 and so far I have not received that voucher and I am waiting for that. everytime your customer care
executives say the same thing that "They have forwarded my request to
concerned Department and they will get to me within 24 hours". So far,
I have not received a single call from end and moreover they are not
bothered about my voucher. My money has been stuck". They are just
giving me false promises that i will receive voucher within 48 hours.
Last time I spoke to CCEs on 2nd December 2009 and he stated the same
thing. It has more than 45 days. This is sorry to say that I am bugged
with all of sorry and excuses made by your company.
Your company is doing false and cheating the customers. If this a way to provide services, then most customers will see you soon at court.
Disgusting company, disgusting service, and disgusting people
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written by jatin mahindra, March 14, 2009
Bootstrapped businesses can evolve. Small players do have opportunity thought it is tough for big ones.
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written by Anil Kumar Prasanna, February 24, 2009
Todays Travel business, all small timers are missing out on buying strengths, TUI started consolidating on MICE buisness, B2B holidays.
Yes it is a difficult for the big timers to sustain, it is equally good
for new projects in lines of responsible tourism, new lines of holiday business.
Recession might affect corporate business, but SME will travel, holidays will happen in India for next two years as per my judgement, by then I am sure economy will also be more stable.
Anil Kumar Prasanna
Yes it is a difficult for the big timers to sustain, it is equally good
for new projects in lines of responsible tourism, new lines of holiday business.
Recession might affect corporate business, but SME will travel, holidays will happen in India for next two years as per my judgement, by then I am sure economy will also be more stable.
Anil Kumar Prasanna
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================
Booking Unsuccessful
MakeMyTrip Booking ID -NF251346829659
Booking Date - Wed, 8 June 11
================
Within a few minutes I received an alert from Icici bank that an amount of Rs.2,834/- was deducted from my credit card for the failed transaction. I immediately called the Customer Care division of makemytrip.com at 1800-11-8747 and the Customer care representative informed me that the amount will be refunded shortly and there is no need to worry and transferred me to sales department for another booking. I was on hold for nearly 15 minutes and nobody from the sales department was responding to my calls. Since the flight was at 5.45 PM and since I had only 2 hours left, I tried the online booking again and it was successful. I received a booking confirmation mail from makemytrip.com with the following details:
=================
MakeMyTrip Booking ID -NF251386831695
Booking Date - Wed, 8 June 11
==================
A further amount of Rs.2,834/- was paid and the matter was again informed to their customer care. I informed icici bank credit card division regarding the debit for the failed transaction and to initiate a chargeback if makemytrip claimed the amount.
On 10th makemytrip claimed both the amounts and I called their customer care personnel Poonam Nagure (Call Reference No: 1106B05103) and she assured that the amount will be refunded within 48 hours. I received an e-mail from Chitra Jha (Reference No:110610-019208) stating the following:
=====================
We have forwarded your concerned to our concerned department.We request you to wait for 48 working hours
=======================
Till 13th evening there was no response from makemytrip and I send an e-mail again and here is the reply I got from Chitra Jha on 14th June, 2011:
=======================
With reference to your email about the refund status for Booking ID IN1106B05103, we understand there has been a delay and we have forwarded your query to the concerned department. We request you to provide us 72 working hours to resolve the same. We will continue to follow up on the request to get your refund processed in due course.
=======================
48 hours has been revised to 72 working hours...I have send them all the relevant details and called them several times and still they are not refunding the amount wrongly deducted from my account for a failed transaction.
1. How can they charge me for a failed transaction???
2. How can a customer rely on makemytrip.com. An e-mail send to customer-support@makemytrip.com bounced.
3. If we call their customer care department we need to explain the whole story again even after providing the Reference ID. I called Roopali on 13th and even after providing a reference Id she was unable to understand what the matter is??? From this we can understand the way Customer relationship is managed at makemytrip.com . They have no proper systems in place and there is lack of professionalism.
4. Just now I have send an e-mail to Chitra Jha that I will wait for 72 working hours. After that I am going to approach the media (including Press and Televison) to make the public aware of the dangers hidden while dealing with makemytrip.com and their lack of customer care. I am going to approach the consumer court too. I need to get a reply on how they have charged me for a failed transaction???
5. I received a e-mail from my bank on 13th, that they have initiated charge back proceedings on makemytrip.com for the false claim.
6. We need to think twice before dealing with makemytrip.com . They work like a government organization with inordinate delay in refunding an amount which they have falsely claimed for a failed transaction.
7. I am waiting for their reply to initiate further steps and I will inform this forum regarding further developments.
Shelley