Business
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.
Business
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.”
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.
Business
IPO Explained: Meaning, Process, Benefits, Risks
In the world of finance, few events generate as much excitement as an Initial Public Offering (IPO). For companies, it marks the transition from private ownership to public trading. For investors, it opens the door to participate in the growth of a business from an early stage. IPOs are often seen as milestones that signal a company’s maturity, ambition, and readiness to expand. (Image: Pexels)

An Initial Public Offering (IPO) is the process by which a private company offers its shares to the public for the first time. By listing on a stock exchange, the company transitions into a publicly traded entity. This move allows the firm to raise capital, expand its operations, and gives early investors and employees the opportunity to sell their shares. For the wider public, it opens up a chance to own a stake in the company and participate in its growth journey. (Image: Pexels)

Companies choose to launch IPOs for several reasons. The most obvious is capital raising, as funds generated from the sale of shares can be used to expand operations, invest in new technology, or reduce debt. Going public also enhances visibility and credibility, since listed companies must adhere to strict disclosure norms. For founders, venture capitalists, and employees, an IPO provides liquidity, enabling them to monetize their holdings. Moreover, access to capital markets creates opportunities for mergers, acquisitions, and global expansion. (Image: Pexels)

The IPO process itself is structured and involves multiple steps. It begins with the company’s board and management deciding to go public. Investment banks, known as underwriters, are then appointed to manage the offering, set the price, and market the shares. (Image: Pexels)

The company must file regulatory documents; in India, this is the Draft Red Herring Prospectus (DRHP) with SEBI, while in the US it is filed with the SEC. These filings disclose financials, risks, and business plans to potential investors. To generate interest, the company and its bankers conduct roadshows, presenting the IPO to institutional investors. (Image: Pexels)

Based on demand, the final price of shares is determined, and allocations are made to both institutional and retail investors. Finally, the shares are listed on exchanges such as NSE, BSE, or NYSE, where they can be freely traded. (Image: Pexels)

There are two main types of IPOs. In a fixed price issue, the company sets a predetermined price for its shares before the offering. In a book building issue, investors bid within a specified price range, and the final price is decided based on demand. Both methods aim to balance investor interest with the company’s capital requirements. (Image: Pexels)

Investing in IPOs can be rewarding but also carries risks. On the positive side, early investment in a promising company can yield significant returns, and IPOs diversify the opportunities available to investors. However, risks include market volatility, overvaluation, or poor company performance after listing. Not every IPO guarantees success, and careful research is essential before investing. (Image: Pexels)
Business
NSE Holiday List 2026: Stock Market To Remain Shut For 15 Days Next Year
Last Updated:
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 |
December 12, 2025, 20:34 IST
Read More
-
Sports1 week agoAustralia take control of second Ashes Test | The Express Tribune
-
Politics6 days ago17 found dead in migrant vessel off Crete: coastguard
-
Politics5 days agoThailand launches air strikes against Cambodian military: army
-
Entertainment1 week agoSabrina Carpenter recalls ‘unbelievable’ experience with pal Taylor Swift
-
Politics1 week agoGen-Z battles to gain political ground after ousting ex-PM Hasina in Bangladesh
-
Fashion1 week agoBangladesh’s economic outlook cautiously optimistic: Govt
-
Fashion5 days agoGermany’s LuxExperience appoints Francis Belin as new CEO of Mytheresa
-
Tech7 days agoWIRED Roundup: DOGE Isn’t Dead, Facebook Dating Is Real, and Amazon’s AI Ambitions
