The Indian hospitality industry is evolving, with investors looking for innovative ideas which have the potential of driving next-gen hospitality startups and services in the country. It is a giant industry especially in a country such as India where hospitality rakes in billions of dollars every year.
These five hospitality startups are using technology driven models and merging elements such as hotels, food and beverages, lifestyle, and even travel, to bring in novelty and creativity in the market.
OYO Rooms
Having PAN-India coverage, OYO Rooms now has more than 8500 hotels under their banner. This is a huge achievement for a startup, considering it was founded only in 2013. OYO Rooms has raised a total of $400 million in eight rounds of funding. Speaking of growth, this startup has now been ranked as the country’s largest and world’s third largest, leased hotel rooms and home provider by Wikipedia.
Fabhotels
This hotel aggregator was started by in 2015 by Vaibhav Aggarwal and Aadarsh Manpuria in Gurugram. With investors such as Accel Partners and Goldman Sachs backing the venture, they have managed to raise a total funding of $35 million. Things do look promising for them in 2019 as they are eyeing a 30% increase in revenue by launching a loyalty program.
Colive
This Bangalore based startup was founded by Suresh Rangarajan and Sundari Rangarajan and they use technology to help people in searching for branded, serviced homes located close to their workplaces or educational institutions. Their ability to provide comfortable and furnished homes at affordable became their USP. Colive in 2018, raised $1.8million in a round led by Ncubate Capital Partners and is currently working on expanding to various other cities of India.
Zomato
One of the most popular restaurant search and food delivery apps in India, Zomato, since its inception in 2008 has showed tremendous growth in the Indian market. Apart from food delivery, Zomato also doubles up as a ‘Google’ for restaurants and hospitality in India and the UAE. In a much talked about business deal, Zomato acquired the Indian operations of Uber Eats, the food delivery business run by Uber, for around $350 million in the month of January 2020.
Zostel
Hostels weren’t such a popular thing among Indian travellers until Zostel was launched and changed the way millennials booked their stay during their travels. Founded in 2013 in Jaipur, they provide ideal facilities for backpackers travelling for adventures and fun. Zostel offers you a stay in the most picturesque locations and guarantees authentic local experiences at reasonable costs. The venture has raised $1 million in capital; with their chain of backpacker hostels operating in 25 Indian cities, as well as in Nepal.
