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Pilgrimage tourism boom: MakeMy report shows 19% growth in FY24-25; surge in premium stays – The Times of India

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Pilgrimage tourism boom: MakeMy report shows 19% growth in FY24-25; surge in premium stays – The Times of India


MUMBAI: Group travel, short stays and last-minute bookings, these are the trends that define the popular religious tourism segment with pilgrimage travel emerging as one of the fast-growing segments of India’s travel and tourism industry. “Accommodation bookings across 56 pilgrimage destinations grew by 19% in FY24-25,” according to online travel company MakeMyTrip (MMT) which tracked for pilgrimage travel in 2024-2025. “The pilgrimage travel trends highlight broad-based momentum, with 34 destinations recording double-digit growth and 15 destinations growing by over 25%, underscoring how spiritual journeys are becoming a powerful driver of travel demand,” the MMT report said.The breadth of growth across pilgrimage destinations can be seen in centres such as Prayagraj (Uttar Pradesh), Varanasi (Uttar Pradesh), Ayodhya (Uttar Pradesh), Puri (Odisha), Amritsar (Punjab) and Tirupati (Andhra Pradesh), which continue to grow. At the same time, places like Khatushyam Ji (Rajasthan), Omkareshwar (Madhya Pradesh) and Thiruchendur (Tamil Nadu) are also registering strong momentum, reflecting the widening canvas of spiritual travel in the country.“The strong growth in pilgrimage demand is also driving an aggressive expansion of accommodation supply across key destinations. Travellers are largely opting for short, purpose-driven stays, with more than half choosing single-night trips. At the same time, premiumisation is gaining momentum, bookings for rooms priced above ₹7,000 grew by over 20%” it saidRajesh Magow, Co-Founder and Group CEO, MakeMyTrip, said, “Pilgrimage Travel has always been part of our culture, but what we see now is its scale and consistency across the country. We are seeing steady growth, fuelled by stronger connectivity and Indians across all age groups and income segments planning pilgrimage-led trips. This growing demand is broadening traveller expectations and prompting the industry to innovate in ways that better serve the unique needs of the pilgrim traveller.

Nearly 2 in 3 pilgrimage bookings made within a week of travel:

The late booking trend is characteristic of Indian travellers, cutting across all segments of travel. Pilgrimage travel, much like leisure, continues to be booked very close to the date of travel, with more than 63% of bookings made within six days of departure.

Pilgrimage travel characterized by short, purpose-led stays:

Pilgrimage travel remains defined by short, purpose-driven stays. More than half of all travellers (53%) opt for single-night visits, compared to 45% in leisure travel. Two-night stays make up nearly one-third (31%) of trips, while three-night stays account for just 11%. Longer durations of four nights or more together contribute less than 5% of bookings, in contrast to leisure travel, which shows a more even spread across multiple nights.

Group travel distinctly stronger in pilgrimage:

Group bookings form a much larger share of pilgrimage travel, with 47% of trips made in groups compared to 38.9% in leisure destinations. This underlines the collective character of pilgrimage journeys, where families, friends, and community groups often travel together, further reinforcing pilgrimage as a deeply shared experience.

High-value bookings in pilgrimage cities outpace leisure destinations:

While most pilgrimage accommodation bookings (71%) are for rooms priced below ₹4,500 per night, premiumisation is gaining clear momentum. In FY24-25, bookings for rooms in the ₹7,000–10,000 range grew by 24%, while those above ₹10,000 grew by 23%. In parallel, alternate accommodation options such as homestays and apartments have also gained traction, contributing nearly 10% of room night bookings in pilgrimage destinations.

Pilgrimage Travel Spurs Wave of New Hotels and Homestays:

Over the past three years, pilgrimage destinations have seen a sharp rise in accommodation supply. More than a third of all hotel rooms available today at these locations were launched during the past three years, with even faster growth in homestays, apartments, and hostels. The expansion of homestays reflects both new additions and existing properties coming online as hosts tap into rising demand. Premium supply has also scaled rapidly, 63% of the premium accommodation available today were launched during the same period, reflecting how businesses are actively investing to capture the demand in premium segment.

Travellers increasingly combine pilgrimage with leisure experiences:

In FY 2024-25, over half (52%) of all holiday package bookings on MakeMyTrip were made by travellers seeking pilgrimage-led destinations only. At the same time, nearly 48% of bookings were from travellers who sought a combination of pilgrimage as well as leisure destinations within the same holiday package. Taken together, these trends point to a shift, with increasing number of travellers blending spiritual journeys and leisure pursuits to create a more wholesome experience.





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Homeowners are losing thousands in equity thanks to weakening prices

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Homeowners are losing thousands in equity thanks to weakening prices


A tract of new tightly packed homes are viewed along the Boulder City Parkway on January 11, 2022 in Henderson, Nevada.

George Rose | Getty Images

Home values have been losing ground for much of this year, with previously huge annual gains shrinking to nothing. The result is that homeowners are losing equity.

Borrower equity fell 2.1% in the third quarter of this year compared with the same period a year ago, or a collective $373.8 billion, according to a report from Cotality. This comes after years of steep home prices gains and record equity. Even after the drop, homeowners still have an overall collective net equity of $17.1 trillion for homes with a mortgage.

For the average homeowner, the third-quarter equity declines translate to a loss of $13,400. In addition, the number of homes in a negative equity position, meaning they are worth less than the mortgage on them, increased by 21% from a year ago to 1.2 million. 

“As the pace of home price growth slows and markets recalibrate from pandemic peaks, we’re seeing a clear shift in equity trends,” said Selma Hepp, chief economist at Cotality. “Negative equity is on the rise, driven in part by affordability challenges that have led many first-time and lower-income buyers to over-leverage through piggyback loans or minimal down payments.”

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Those in a negative equity position likely purchased their homes more recently, when mortgage rates were higher and prices had peaked. Homeowners have also been pulling more equity out of their homes, thanks to huge gains in the last five years.

Home values are now roughly 52% higher than they were in January 2020, according to the S&P Cotality Case-Shiller national home price index. Even after mortgage rates increased in 2023, the average equity gain per homeowner was $25,000. In 2024, it was $4,900.

Not every market, however, is seeing the same dynamic. Boston, Chicago and New York City are all still in the positive, according to the Cotality report. The biggest losses were in Los Angeles, San Francisco, Washington, D.C., Miami and Houston, Texas.

“The future performance of highly leveraged loans will hinge on the strength of the U.S. economy and labor market. Even as expectations for continued price appreciation and economic resilience persist, it remains critical to closely monitor these loans in the months ahead,” Hepp said.



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IPO Explained: Meaning, Process, Benefits, Risks

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NSE Holiday List 2026: Stock Market To Remain Shut For 15 Days Next Year

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NSE Holiday List 2026: Stock Market To Remain Shut For 15 Days Next Year


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NSE releases 2026 holiday calendar, informing investors and traders for the holidays next year.

NSE Holiday Calendar 2026

NSE Holiday Calendar: The National Stock Exchange (NSE) has released the complete list of holidays for the exchange during the calendar year 2026. The NSE will remain non-trading for 15 days apart from weekends. Four public holidays are falling on weekends.

During the holiday, all trading in equities, derivatives, currency and bullion will be closed.

The first holiday of the exchange is falling on Monday, January 26, 2026, for the Republic Day, while the last will remain on Friday, December 25, 2026, for Christmas.

The exchange holidays falling on the weekends (Saturdays and Sundays) are following:

  • February 15, 2026 for Mahashivratri,
  • March 21, 2026 for Id-Ul-Fitr (Ramadan Eid)
  • August 15, 2026 for Independence Day
  • November 08, 2026 for Diwali Laxmi Pujan

Muhurat Trading will be conducted on Sunday, November 08,2026. Timings of Muhurat Trading will be notified subsequently.

Full NSE Holiday Calendar:

Sr. No. Date Day Holiday Description
1 January 26, 2026 Monday Republic Day
2 March 03, 2026 Tuesday Holi
3 March 26, 2026 Thursday Shri Ram Navami
4 March 31, 2026 Tuesday Shri Mahavir Jayanti
5 April 03, 2026 Friday Good Friday
6 April 14, 2026 Tuesday Dr. Baba Saheb Ambedkar Jayanti
7 May 01, 2026 Friday Maharashtra Day
8 May 28, 2026 Thursday Bakri Id
9 June 26, 2026 Friday Muharram
10 September 14, 2026 Monday Ganesh Chaturthi
11 October 02, 2026 Friday Mahatma Gandhi Jayanti
12 October 20, 2026 Tuesday Dussehra
13 November 10, 2026 Tuesday Diwali-Balipratipada
14 November 24, 2026 Tuesday Prakash Gurpurb Sri Guru Nanak Dev
15 December 25, 2026 Friday Christmas
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