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Does MakeMyTrip’s Premium Hotel Tie-Up with Minor Hotels Reshape Its Outbound Travel Moat (MMYT)?

Simply Wall St·02/13/2026 14:24:16
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  • Earlier this week, Minor Hotels announced a partnership with MakeMyTrip to offer Indian travellers access to more than 560 premium international properties across brands such as Anantara Hotels & Resorts, NH Collection Hotels & Resorts, and Minor Reserve Collection.
  • This tie-up deepens MakeMyTrip’s direct global hotel inventory, potentially reinforcing its role as a preferred platform for Indians booking higher-end stays abroad.
  • We’ll now explore how this expanded premium hotel inventory for Indian outbound travellers could influence MakeMyTrip’s existing investment narrative.

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MakeMyTrip Investment Narrative Recap

To own MakeMyTrip, you need to believe in sustained growth in Indian travel demand and the platform’s ability to convert that into improving profitability despite rising competition and promotional spend. The Minor Hotels partnership broadens premium outbound hotel options, but on its own it does not materially change the near term earnings picture or the key risk that higher marketing and customer acquisition costs could keep margins under pressure.

Among recent announcements, the ongoing share buyback program, with US$77.26 million spent to repurchase 1,758,742 shares since inception, is the most relevant in this context. It highlights that management is willing to return capital even as recent quarters show softer net income and compressed profit margins, which could matter if new partnerships like Minor Hotels require sustained investment before contributing meaningfully to earnings.

Yet investors should also be aware that rising airline and hotel direct booking channels could...

Read the full narrative on MakeMyTrip (it's free!)

MakeMyTrip's narrative projects $1.8 billion revenue and $288.3 million earnings by 2028. This requires 22.2% yearly revenue growth and an earnings increase of about $188 million from $100.0 million today.

Uncover how MakeMyTrip's forecasts yield a $102.90 fair value, a 75% upside to its current price.

Exploring Other Perspectives

MMYT 1-Year Stock Price Chart
MMYT 1-Year Stock Price Chart

Four fair value estimates from the Simply Wall St Community span from about US$42.92 to over US$180,000 per share, underlining how far apart individual views can be. You should weigh these wide ranging opinions against the risk that persistent advertising and promotion costs may limit margin improvement and shape MakeMyTrip’s performance over time.

Explore 4 other fair value estimates on MakeMyTrip - why the stock might be worth 27% less than the current price!

Build Your Own MakeMyTrip Narrative

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.