Yatra.com Diversifies its Portfolio & Enters Edtech; Partners With upGrad

Rhea-AI Summary

Yatra Online, Inc. (NASDAQ: YTRA) has announced a partnership with upGrad Enterprise, India's leading online higher education provider, to diversify its services beyond travel. This collaboration aims to provide corporate clients with advanced learning and skill development opportunities. Within six months, the alliance will help reduce employee attrition and align learning objectives with business strategies. The partnership is crucial for addressing skill gaps and enhancing workforce capabilities in a challenging economic environment, marking a significant shift for Yatra towards becoming a comprehensive business solution provider.

Positive

• Partnership with upGrad Enterprise enhances service offerings beyond travel.
• Aims to provide corporate clients with employee skill development programs.
• Opportunity to reduce employee attrition and align learning with business growth.

Negative

• Dependence on the travel industry may still pose risks amid economic downturn.
• Potential for skill-gap challenges to hinder client business growth despite partnership.

GURUGRAM, India and NEW YORK, July 14, 2020 /PRNewswire/ -- Yatra Online, Inc. ("Yatra") (NASDAQ: YTRA) (OTCQX: YTROF), India's leading online corporate travel platform servicing 850+ corporate and 20,000+ SME clients, has forged an alliance with upGrad Enterprise, the B2B arm of upGrad, India's largest online higher education company. With Yatra's aim to diversify its portfolio beyond travel, this partnership shall enable its corporate clients to deliver advance learning and skill development for their employees.

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From deployment-ready workforce within 6 months, to reducing employee attrition and aligning L&D plan with business growth strategy, upGrad Enterprise will work closely with Yatra's corporate and SME clientele. The edtech major will be providing deep skilling programs that align with the client's desired business outcomes to deliver impact at scale.

Commenting on the partnership, Dhruv Shringi, Co-founder and Chief Executive Officer, Yatra.com said, "In a tough economic climate, it is important to develop and reskill the workforce to overcome the challenges being presented. We are excited to join forces with upGrad to provide a platform to our clients who are looking to develop employees' potential specific to their businesses or a sector. This unique partnership further paves our way to become an end to end business solution provider to our clients."

"The unprecedented rate of technology advancement is disrupting companies and jobs everywhere. Across verticals, enterprises face barriers to this adoption due to skill-gap in their talent pool. Such barriers can be crippling, hampering business growth. Our strategic partnership with Yatra, which is absolutely first of its kind and creates a new milestone in the education industry, will be focused towards bridging this workforce skill-gap," said Mayank Kumar, Co-Founder & MD, upGrad.

The strategic alliance will empower Yatra's corporates and SME clientele with human-assisted learning expertise combined with cutting edge curriculum, collaboration with leading global faculty & industry experts, and an immersive online platform, thereby making them future ready.

About Yatra Online, Inc and Yatra Online Pvt Ltd  

Yatra Online, Inc is the parent company of Yatra Online Pvt. Ltd. which is based in Gurugram, India and is India's leading Corporate Travel services provider with over 850 corporate customers and 20,000+ SMEs across industries.

Being one of India's leading online travel companies and operating the website Yatra.com, the company provides information, pricing, availability, and booking facility for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in city activities, inter-city and point-to-point cabs, homestays and cruises. Launched in August 2006, Yatra was ranked the Most Trusted E-Commerce Travel Brand in India in the Economic Times Brand Equity Survey for two successive years, and has won the National Tourism Award for 'Best Domestic Tour Operator (Rest of India)' conferred by the Government of India four times.

Safe Harbor Statement 

Statements contained in this press release that relate to future results and events may constitute "forward-looking statements" within the meaning of safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company's current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "seem," "should" and similar expressions. Such statements include, among other things, management's beliefs as well as our strategic and operational plans. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the slow-down of economic growth in India and the global economic downturn, general declines or disruptions in the travel industry, volatility in the trading price of our shares, our reliance on our relationships with travel suppliers and strategic alliances, failure to further increase our brand recognition to obtain new business partners and consumers, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in India and overseas, failure to successfully develop our corporate travel business, damage to or failure of our infrastructure and technology, loss of services of our key executives, and inflation in India and in other countries. These and other factors are discussed in our reports filed with the U.S. Securities and Exchange Commission. All information provided in this earnings release is provided as of the date of issuance of this earnings release, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For further information please contact:
Manish Hemrajani
Yatra Online, Inc.
VP, Head of Investor Relations and Corporate Development
ir@yatra.com

 

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SOURCE Yatra Online, Inc.

FAQ

What is the significance of Yatra's partnership with upGrad?

The partnership will allow Yatra to offer advanced learning and skill development programs for its corporate clients, aiming to enhance workforce capabilities.

How many corporate clients does Yatra service?

Yatra services over 850 corporate clients and more than 20,000 SMEs.

When was the partnership with upGrad announced?

The partnership was announced on July 14, 2020.

What are the expected outcomes of the Yatra and upGrad collaboration?

The collaboration aims to develop a workforce ready to overcome skill gaps and align learning objectives with business strategies.

What are the risks associated with Yatra's business strategy?

Yatra faces risks from dependence on the travel industry and potential skill-gap challenges impacting client growth.