Yatra

What Yatra does

Yatra Online Limited is an Indian online travel aggregator founded in 2006 and listed on NASDAQ (YTRA) following a September 2023 IPO that raised approximately Rs 775 crore. The company operates a hybrid B2C/B2B travel platform through Yatra.com and its mobile apps, offering real-time booking of domestic and international flights, hotels (103,000+ in India, 1.5M+ globally), holiday packages, IRCTC-integrated train tickets, state-run bus services, outstation cabs, visa services, cruises, and activities. Its B2B arm, Yatra for Business, provides integrated corporate travel and expense management for over 700 corporate clients (1,300+ post-Globe Travels integration), with the recent MICE capability expansion positioning it in India's corporate travel market targeted as an $8.2 billion opportunity where 60-70% of bookings remain offline.

The underlying technology stack is built on Google Cloud infrastructure leveraging Vertex AI and Gemini models. The company has developed two proprietary AI products: DIYA, a conversational travel assistant launched August 2025 and upgraded April 2026 to execute end-to-end multi-city booking workflows within a single natural-language conversation, and RECAP, an automated expense management tool using vision analytics and OCR for receipt scanning. The platform supports distribution through direct digital channels, retail stores, call centers, travel agent partner network, and bank co-branded credit card partnerships with RBL, HSBC, SBI, AU Bank, Axis Bank, OneCard, and BOBCARD. Revenue is generated primarily through transaction-based commissions on airline and hotel bookings, subscription fees via Yatra Prime (Rs 1,849/year) and enterprise agreements for corporate travel management.

Name

Yatra

Legal name

Yatra Online Limited

Website

https://www.yatra.com/

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Yatra Online Limited is an Indian online travel aggregator providing real-time booking of flights, hotels, holidays, trains, buses, and cabs to individual consumers and 1,300+ corporate clients, powered by Google Gemini AI tools DIYA and RECAP.

Ownership category

akta.pro rank

Product category

Online Travel Agency

NAICS

Travel Agencies (561510), Other Travel Arrangement and Reservation Services (56159)

SIC

Transportation Services (4700)

akta.pro primary industry

Online Booking & Reservation Platforms (B2B/B2C) (THALAMAA)

akta.pro secondary industries

Hotel & Accommodation Booking Platforms (THALAFAB), Online Corporate Booking & Self-Booking Tools (OBT) (THAKAMAB), Corporate Travel & Expense (T&E) Management Platforms (THAKANAA)

Keywords

• Online travel agency
• Corporate travel management
• Flight booking platform
• Hotel reservation platform
• Holiday package services

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Airline Booking Commissions and Transaction Fees: Yatra earns commissions and transaction fees on domestic and international airline ticket bookings made through its platform. The company charges service fees on bookings, with convenience fees on domestic flights. Cancellation and amendment charges also contribute revenue.
2. Hotel Booking Commissions: Revenue generated from hotel bookings through commission on accommodations, with real-time connectivity to over 103,000 domestic hotels and 1.5 million international hotels. Take rates vary across hotel tiers.
3. Holiday Packages and Bundled Travel: Revenue from pre-planned and customizable domestic and international holiday packages, including flights, hotels, transport, and sightseeing bundled together.
4. Corporate Travel Management (Yatra for Business): Enterprise subscription and per-transaction fees from managing full corporate travel services for businesses, including flights, hotels, rail, MICE, and expense management. Yatra onboarded 148 new corporate clients over 12 months representing Rs 700+ crores annual potential.
5. Rail, Bus, and Cab Bookings: Transaction fees from train ticket bookings (IRCTC integration), bus ticket bookings across Indian state operators, and outstation/inter-city cab bookings.
6. Yatra Prime Membership: Subscription-based loyalty program offering no convenience fees on domestic flights, VIP customer support, special fares, milestone rewards, and surprise gifts for Rs 1,849 per year.
7. Co-branded Credit Card Partnerships: Revenue through partnerships with credit card issuers (RBL Bank, HSBC, SBI, AU Bank, Axis Bank, OneCard, BOBCARD) providing discounts and EMI options on Yatra bookings, with interchange or commission arrangements.

Pricing tiers

Distribution channels7 records

Marketing channels5 records

Core offering

Yatra operates an online travel aggregation platform (Yatra.com) that enables real-time booking of domestic and international flights, hotels, holiday packages, train tickets via IRCTC, bus tickets, outstation cabs, visas, and activities. It serves both individual consumers (B2C) through self-serve web and mobile apps and corporate clients (B2B) through Yatra for Business, a dedicated enterprise travel and expense management platform serving 700+ corporate clients. AI-powered tools DIYA (conversational travel assistant) and RECAP (automated expense management) differentiate the platform.

Product overview

Yatra Online Limited operates Yatra.com as its flagship online travel platform — a multi-service travel portal offering both B2C consumer travel and B2B corporate travel management. The core platform provides real-time bookings for domestic and international flights, hotels (103,000+ in India, 1.5M+ globally), holiday packages, trains (via IRCTC), buses, outstation cabs, homestays, cruises, activities, monuments ticketing, and visa services. The product portfolio is structured around the Yatra.com consumer portal supplemented by Yatra Prime (paid subscription with fee-free booking and priority support), the Yatra for Business corporate travel management platform (covering integrated booking and expense management for enterprise clients), Yatra MICE (specialized meetings, incentives, conferences, and exhibitions services for corporates), and Yatra for Travel Agents (B2B agent access to Yatra's inventory). AI-powered capabilities include DIYA, a Google Gemini-powered conversational travel assistant enabling end-to-end multi-city itinerary planning and booking within a single conversation, and RECAP, an automated expense management tool using OCR and vision analytics for receipt processing and policy compliance. The platform is accessible via web, Android and iOS mobile apps.

Differentiator

Problem solved

Functional benefit

Brands

• Yatra for Business: Corporate travel management platform offering integrated booking and expense management solutions for enterprise clients
• Yatra Prime
• DIYA
• RECAP
• Yatra for SMEs

Products and services

• Yatra.com Online Travel Platform Flagship online travel portal providing real-time booking for domestic and international flights, hotels, holiday packages, trains (IRCTC), buses, outstation cabs, homestays, cruises, monuments ticketing, and activities across India and worldwide.
• Yatra for Business

Quantifiable outcome

• 27% year-over-year revenue growth to INR 10.1 billion in FY2026
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability13 records

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and core.

• BOBCARD Ltd (Bank of Baroda)minorGTM or Marketing Partner · 1 June 2026BOBCARD, a credit card arm of Bank of Baroda, launched travel offers across platforms including Yatra, providing instant discounts and EMI payment options on flight and hotel bookings until June 30, 2026. Offers range up to Rs 8,000 discount on Air India bookings to up to 20% weekend discounts, tied to three- and six-month no-cost EMI options.
• Google Cloud (Vertex AI, Gemini AI)coreTechnology or Integration · 7 April 2026Yatra announced a strategic collaboration with Google Cloud to deploy Google Gemini on Vertex AI for building AI-powered travel and expense solutions. The partnership powers Yatra's DIYA AI bot series for conversational booking and multi-step travel workflows, and RECAP for expense management using vision analytics and OCR. Built on Google Cloud's enterprise-grade security infrastructure with Yatra's enterprise data excluded from Google's public model training pipeline.
• RateGaincoreStrategic or Co-development Partner · 12 December 2025Yatra Online partnered with RateGain on December 12, 2025, wherein Yatra for Business manages full corporate travel services for RateGain employees, including flights, hotels, and rail bookings. The collaboration aims to streamline end-to-end travel processes while optimizing costs for RateGain, which employs over 3,200 customers and 700 partners globally.
• Ramkrishna Forgings LtdminorOthers · 30 November 2025Ramkrishna Forgings Ltd sold Globe All India Services Ltd (Globe Travels) to Yatra Online Ltd for Rs 128 crore. The transaction strengthened Yatra's corporate travel segment.
• SwiggyminorGTM or Marketing Partner · 24 September 2024Swiggy added 'Privileges' to its Swiggy One membership programs, partnering with Yatra to offer exclusive discounts including flat 30% discount at Cinepolis and free cancellation and seat selection on Yatra flights. The initiative enhances Swiggy One's value proposition across food delivery, quick commerce, dining out, and external partner benefits.
• Globe All India Services Ltd (Globe Travels)coreStrategic or Co-development Partner · 2 September 2024Yatra acquired Globe All India Services Ltd (Globe Travels) from Ramkrishna Forgings Ltd for Rs 128 crore, strengthening Yatra's corporate travel business. The deal added approximately 360 corporate customers and $90 million in annual gross bookings, expanding the corporate customer base by 40%. Globe Travels' expertise in meetings, conferences, and exhibitions (MICE) was absorbed into Yatra's operations.

Scale indicators11 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Trip.com Group: Trip.com Group (formerly Ctrip) is a global OTA with India exposure through its flights, hotels, and packages platform. Comparable as a large international online travel agency competing for outbound Indian travel demand and supplier relationships.
• CWT: CWT is a global corporate travel management company serving multinational clients with booking, expense, and meetings services. Comparable as a broader incumbent in the same corporate travel and expense management category that Yatra for Business and RECAP serve in India.
• Booking Holdings: Booking Holdings operates Booking.com, Agoda, and Priceline, the world's largest OTA platforms with significant India exposure via Agoda hotels. Comparable as a large incumbent OTA whose hotel and flight inventory competes with Yatra's international offering.
• Expedia Group: Expedia Group operates Expedia, Hotels.com, Vrbo, and Trivago globally, serving Indian consumers with hotels, flights, and packages. Broad incumbent OTA comparable to Yatra on flights, hotels, and packages.

Direct peers

• Cleartrip: Cleartrip, owned by Flipkart, is a major Indian OTA offering flights, hotels, trains, and holiday packages to Indian consumers. Direct competitor to Yatra's B2C platform with overlapping inventory and target customer base in India.
• MakeMyTrip: MakeMyTrip is India's largest online travel company, offering flights, hotels, holidays, and corporate travel with the dominant domestic OTA position. Closely comparable to Yatra across consumer and corporate channels in the same geographic and product market.
• Thomas Cook (India): Thomas Cook India is a listed travel and tourism company offering leisure, corporate travel, MICE, and forex services, overlapping with Yatra's corporate and holiday packages business in the Indian market.
• SOTC Travel: SOTC Travel is an Indian tour operator and corporate travel services company (part of Thomas Cook India group), offering holiday packages, MICE, and corporate bookings that overlap directly with Yatra's package and corporate segments in India.
• Ixigo: Ixigo is an India-focused listed OTA covering flights, trains, buses, and hotels, and has relaunched with an AI-first conversational product (Ixigo NEXT). Comparable as a nimble Indian competitor that is also using AI to differentiate against Yatra.

Regional players

• Corporate Travel Management: Corporate Travel Management (CTM) is an Australia-listed global corporate travel management company with operations in several geographies. Comparable as a corporate TMC peer but does not directly compete in India where Yatra for Business operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/YatraHolidays
• YouTubeyoutube.com/user/yatratravel
• Facebookfacebook.com/Yatra
• LinkedInlinkedin.com/company/yatra-online-ltd
• Instagraminstagram.com/yatradotcom

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds12 records

Investors29 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Yatra