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Tag: Hospitality startup

  • PAJASA Apartments Success Story of Facilitating Serviced Apartments for the Corporates!

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by PAJASA Apartments.

    Business tourism is booming in India. The corporate sector is expanding and many need to travel to different places for meetings, conferences, exhibitions, and more.

    India has been the 5th fastest growing business travel destination from 2010-2019. With this increasing number of business tourists, demand for quality accommodation is also increasing. This is giving rise to an increased demand of service apartments, the segment of which is growing at a rate of over 8% per annum and is declared as one of the fastest-growing wings of the hospitality industry.

    To cater to this rising demand, PAJASA Apartments is offering beautiful and comfortable serviced apartments in top locations of the country.

    StartupTalky interviewed PAJASA Apartments co-founder Arpit Awasthi to know more about the offerings and operations of the company.

    Startup Name PAJASA Apartments
    Headquarter Mumbai
    Sector Hospitality
    Co-founders Paras Sangwan, Arpit Awasthi
    Founded 2014
    Parent Organization PAJASA Stay Solution Pvt. Ltd.
    Website pajasaapartments.com

    About PAJASA Apartments and How it Works
    PAJASA Apartments – Founders & Team
    How was PAJASA Apartments Started?
    PAJASA Apartments – Mission
    PAJASA Apartments – Name, Tagline and Logo
    PAJASA Apartments – Business Model and Revenue Model
    PAJASA Apartments – Growth
    PAJASA Apartments – Startup Challenges
    PAJASA Apartments – Awards & Recognitions
    PAJASA Apartments – Competitors
    PAJASA Apartments – Future Plans

    About PAJASA Apartments and How it Works

    PAJASA Apartments is a Mumbai-based startup that provides world-class serviced apartments (with working kitchens) on a daily, weekly, or monthly basis to corporates. The service apartments are offered on a pay as per usage basis, which costs 40-50% less than hotels. Besides, the apartments are located near to the work location across all metro cities in India (max 5 Km distance) to assure the corporate employees complete their projects within their time limit with no traffic/time hassles.

    PAJASA envisions to be alternatives to guest houses that the companies take on a monthly rental basis, which invariably increases their fixed costs. PAJASA works to reduce companies’ fixed costs to variable cost by providing the pay-as-per-usage facility. By facilitating such a shift, it helps in cutting down the hotel cost by around 40% to firms/organizations.

    PAJASA follows a step-by-step process to ensure smooth functioning and a hassle-free experience for its clients. First, the PAJASA team surveys a property at a given location and signs a contract with the owner. The pictures of the property along with the details are then put on their application and website. Once, the company administration requests a booking for their guests through mail or the application, the team checks the best accommodation available near the  work location (a maximum of 5 km in metros); and checks availability.  The system, then, generates a booking. A confirmation voucher is sent to the guests and the company administration as well. The guests can check all the details and the location through software and apps like Google Maps. Pajasa also has a 24×7 support number, which is available for any escalations.

    PAJASA Apartments are currently available in Mumbai, New Delhi, Hyderabad, Chennai, Bangalore, Pune, Gurugram, and Noida.

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    PAJASA Apartments – Founders and Team

    Paras Sangwan and Arpit Awasthi co-founded PAJASA Apartments in 2014.

    Founders of Pajasa Apartments

    Paras Sangwan

    Paras Sangwan is currently the CEO of PAJASA Apartments. He looks after the Business (sales) division of the company. Paras did his Post Graduate Diploma in Foreign Trade from Savitribai Phule, Pune University after completing his Post Graduate Diploma in Business Management from IIeBM College. Paras Sangwan, who also heads PAJASA Agro, as the CEO, previously served as the Business Development Manager at PAJASA Apartments. Prior to founding this firm, Sangwan was a Business Development Executive at Advent Infosoft and then a Marketing Manager at Lake Bloom Residency.  

    Passionate about starting his own business, Paras participated in an inter-college B-Plan competition and secured 2nd position there. He came to Mumbai to find an idea to fulfill his dream. Before starting his own venture, Paras worked in a serviced apartment company, where he got to learn a lot about the functioning of the sector and the gaps exiting in the sector.

    Arpit Awasthi

    Arpit Awasthi was the Founder-CTO at PAJASA Apartments and used to handle the technology domain of the startup before leaving the company in August 2020. Awasthi was a BSc Mathematics student at PPN Degree College, Kanpur, but he dropped out of his college education. Arpit eventually obtained a BTech in Electronics and Communications Engineering. After serving as a freelance Video Production Specialist, Awasthi served Accenture, before moving on to the entrepreneurial way where he founded Edge N Roots, where he remained the Founder for over 12 years. He joined Pajasa Apartments in the meanwhile in February 2017 and was known as the Co-founder and CTO at PAJASA Apartments. He is currently serving as a Technical Analyst at Coforge.      

    Paras met Arpit in a PG in Mumbai; then, Arpit was working in Accenture and have been working on web technologies. Arpit already created a company at his engineering days, keen to do something new. Paras shared his idea to him and asked him to be the co-founder of PAJASA Apartments as CTO. Paras, after that, left his job in March 2014 and opened a small three sitting office at Powai Plaza. As Arpit was working in a company, they had only weekends to work to develop the technology.

    Currently, PAJASA Apartments has a dedicated team of 8+ members, including a core developer, digital expert, accounting professional, content writer, sales manager, and photographer.

    How was PAJASA Apartments Started?

    As a General Manager in the hospitality sector, Paras realized that most of the clients looked for service apartments instead of hotels for long stays as these were cost-effective. However, in the absence of a one-point contact for service apartment owners and corporate clients, company administrations either had to book apartments through several vendors or ended up booking hotels.

    This left Paras thinking about ways of decreasing hotel costs for companies and removing their fixed cost by eliminating the guest house concept.

    Most service apartment owners generally have properties in one or two areas. So for every location, the administration of a company has to find many service apartment vendors, which is a tedious task

    Paras shared the concept with Arpit, his flatmate, who worked with Accenture as a team leader and had a good knowledge of web technologies. With an investment of 5 lakh and two employees, they founded PAJASA Apartments (PAJAS in Sanskrit means growth) in 2014.

    The day we deployed our first cloud application, we had breakfast (Idli) at 4:30 am Monday morning near IIT Powai (Maddu Mess) – says Arpit recalling the early days of the startup.

    PAJASA Apartments – Mission

    PAJASA Apartments’ mission statement is “YOUR SECOND HOME IN EVERY CITY”.

    PAJASA came from the Sanskrit word “PAJAS”, which refers to the goddess Laxmi, and resembles growth.

    PAJASA Apartments Logo

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    PAJASA Apartments – Business Model and Revenue Model

    PAJASA Apartments is the only serviced apartment aggregator company in India, working exclusively with corporates to maintain a high-class standard of corporate stay. None of the OTAs (Online Travel Agency) have created filters for the apartment category like 1 BHK/2 BHK to date on their website.

    PAJASA Apartments has a B2B business model, which is simple yet effective. It works on a margin basis from apartment owners to corporate. It fixes tariffs with apartment owners as well as corporate for the contracted period in the beginning. This tariff remains the same throughout the contracted period and does not vary with season or stay duration, unlike other stay formats. Once a contract is signed with PAJASA Apartments, a company sends PAJASA a booking request for their guest with details either from mail or PAJASAs’ application. PAJASA technology eventually creates a ticket for the request and checks apartment availability. There is a manual check system in place, and the same ensures the best apartment is provided to the guest. Then, the system creates a booking and sends the relevant voucher and SMS to the guests and the admins.

    PAJASA Apartments has a mechanism in place that shows monthly invoices, and similarly, they provide their clients with one invoice for a month that creates value addition to the clients.

    PAJASA Apartments – Growth

    PAJASA Apartments has seen some growth. Operating exclusively in the hospitality industry that truly focuses on the serviced apartments section focusing on the businesses and their operations in India, it has surely got the early bird advantage for the same. Billed as “Your Second Home”, PAJASA Apartments now offers serviced apartments in 8 top Indian cities, and the top locations within them, which includes, Worli (Mumbai), Powai (Mumbai), Cyber City (Gurgaon), Viman Nagar (Pune), T Nagar (Chennai) and more.

    PAJASA Apartments also includes some premium companies as their clients, which includes Google, Tata, Nokia, Amazon, Accenture, L&T, HDFC Bank, Samsung, Domino’s, Muthoot Finance, and more. The company also boasts of being covered by some of the leading media companies like The Hindu, TechStory, YourStory, KnowStartup, Inventiva, and more.

    PAJASA Apartments has worked on SEO and their first 300+ clients came through SEO itself. As of now, PAJASA Apartments has achieved an RMV (Room Booking Value) of INR 7 Cr till Nov 2019. Here’s a brief section pointing the growth highlights of PAJAS Apartments:

    • Total room night boked till date is 25,000+
    • Yearly growth has last been estimated to be over 200%
    • Corporate Client added is 300+
    • 200+ locations added in the top 10 cities in India for the company
    • 5000 room keys listed on the website

    PAJASA Apartments – Startup Challenges

    Serviced Apartment is a very new concept in India, and each city has its own rule for serviced apartments. While in Mumbai, all serviced apartments add electricity bills to their regular tariff, in Delhi, the apartment owners are charged extra for the electricity consumed. To manage these hassles, the company created its own set of rules, and based on it, it signs contracts with serviced apartment owners across India.

    Generally, serviced apartments are considered between BnB and Hotels in stay classification, so most cities have their own format. The PAJASA team is trying to achieve a balanced standard for its corporate clients to enjoy their stay with all world-class amenities in their budget. PAJASA Apartments team ensures that all amenities and services are made available irrespective of location.

    Another challenge for PAJASA was to organize apartments starting from stay inquiry of the corporates and businesses, to bookings, guest stay, billings, and feedback flow to enable apartment owners to manage their apartment without any hassle. To overcome such a challenge, they have created a full online web application that will help the whole process, from onboarding a corporate or a serviced apartment inventory to creating bookings/Invoices/Reports, easy and fully automatic. They strive to make booking management easy for corporate as well as apartment owners.

    Serviced apartments are very different than hotels, so it is not possible to seek any inspiration from any hotel application to manage bookings. PAJASA has, therefore, created its own web application from scratch and regularly updates it on a scenario basis and new use cases, which are very different from the Hotel Industry.

    PAJASA Apartments – Awards & Recognitions

    Some of the recognitions received by the company are:

    • It was appointed as a panelist in the “Food and Hospitality Trade Show”
    • It won the “Innovative Software Platform for Service Apartment” award in the Technology category, at the India International Hospitality Expo.

    PAJASA Apartments – Competitors

    PAJASA Apartments do not have any direct competitor. Though there are many indirect competitors working in this area, no one is working specifically on serviced apartments for corporates. As said by Paras, even none of the OTAs (Online Travel Agency) have created filters for apartment categories like 1 BHK/2 BHK to date on their website.

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    –

    PAJASA Apartments – Future Plans

    PAJASA is currently looking to increase the total list of rooms that are there listed on their website, and also expand their clients. There is also a plan to increase the team size, and make the booking process fully automated. However, as said by Arpit, the company prefers organic growth and is not looking for investors just yet. Though the company is currently working exclusively with corporates, in the future the team wants to establish PAJASA Apartments as a pre-eminent global service apartment company – the first choice of guests, team members, and corporates.

    As short-term corporate projects/assignments are increasing day by day and company resources need a homely stay for their short duration to stay with family, the services provided by PAJASA Apartments have immense potential to grow and accrue profits.

    FAQs

    What is PAJASA Apartments?

    PAJASA Apartments is a Mumbai-based startup operating in the serviced apartment segment, which enables companies and professionals to book fully furnished, quality rooms for their short/long or extended stays.  

    Where is the PAJASA Apartments headquarters?

    The PAJASA Apartments headquarters is in Mumbai, Maharashtra, India.

    Who is the Founder of PAJASA Apartments?

    PAJASA Apartments has been founded by Paras Sangwan and Arpit Awasthi, where Arpit has left his role while Paras is still serving as the Founder and CEO of the company.

    What is the PAJASA Apartments’ mission?

    PAJASA Apartments operates with a mission statement that says “YOUR SECOND HOME IN EVERY CITY”.

  • Ekostay- Providing Extravagant Yet Affordable Homestay

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by EKOSTAY.

    The hospitality sector has been hit hard during Covid. Despite the negative impacts, Indian tourism and hospitality are expected to earn US$ 50.9 billion by 2028. The demands for good service hotels are high and their charges are equally sky touching. People in India wants good service quality at an affordable rate. Value for money is highly important for citizens in India. In hospitality industry, quality service and customer satisfaction play irreplaceable roles. Ekostay is a vacation homestay venture based out of Mumbai. It offers the widest range of Homestay options and provides an extravagant yet affordable experience across India.

    Read to know the success story of Ekostay, its founders, the startup idea, business model, and growth.

    Ekostay – Company Highlights

    Startup Name Ekostay
    Headquarters Mumbai
    Sector Hospitality
    Founders Varun Arora, Husain Khatumdi, Sohail Mirchandani, Zishan Khan
    Founded 2018
    Website ekostay.com

    Ekostay – About
    Ekostay – Industry
    Ekostay – Founders and Team
    Ekostay – Idea and Startup Story
    Ekostay – Name, Tagline, and Logo
    Ekostay – USP
    Ekostay – Business Model & Revenue Model
    Ekostay – Customer Acquisition
    Ekostay – Challenges Faced
    Ekostay – Marketing
    Ekostay – Growth
    Ekostay – Competitors
    Ekostay – Recognition and Achievements
    Ekostay – Future Plans

    About Ekostay 

    Ekostay – About

    EKOSTAY provides the best alternate homestay accommodation service to their cliental pan India.

    Their mission is to empower guests through the provision of luxurious quality homes at an affordable price. Ekostay aims to achieve this by providing a customer-centric approach in design and marketing of properties. They are committed to achieving excellence in all that they do and continue to go beyond the expectations of stakeholders and work with homeowners to take away the hassle of hosting, improve the management of their property, and give an additional source of revenue and give the best experience to their clients.

    The team hopes to make Ekostay, the dominant firm in the alternative housing industry by changing the way homes are hosted in India. To provide guests the finest of local experiences to compliment vast variety of services and make their stay in India genuinely unforgettable. The team continues to focus on creating a large and devoted homeowner consumer base and providing them with an experience that is far superior to a standard homestay.

    Ekostay – Industry

    EKOSTAY belongs to the Alternative Accommodation Industry and Ekostay cater to mass economical market. With dynamic strategy they target Tier 1, Tier 2 and Tier 3 cities studying the demographics and purchase behaviour of the consumers. By analysing the predicted trends against the historic data compiled by analysts, consumer preferences, and choices they provide a range of Homestay experiences, from premium designer villas to affordable luxury properties. They provide homestay experiences that are personalised to the needs of the customers, and they work with the homestay providers to redesign their properties with a customer-centric approach. The alternative accommodation industry is booming. This means that there are more homestays available than ever before, providing a cost-effective and unique holiday experience. But finding the right homestay can be a challenge. There are so many choices, each with their own unique style, theme, offering, and EKOSTAY strives to provide the very best to every individual customer by handpicking properties in the best locations.

    Ekostay – Founders and Team

    Founded in 2018 by the Entrepreneurial Fantastic Four- Varun Arora , Husain Khatumdi, Sohail Mirchandani & Zishan Khan, with a vision to tailor the needs of the holiday goers on experiencing a cozy & private stay of a home away from home.

    Varun Arora - Co-founder of Ekostay
    Varun Arora – Co-founder of Ekostay

    Varun Arora the Chief Executive Officer & Co-Founder thrives on exploring new avenues that can help elevate his organisation to the next level. A graduate in Mass Media from Mumbai University, he started his career in the marketing field, where he learnt the skills of strategizing and implementing online & offline creative marketing strategies as he leads the Social media and Business Development team at EKOSTAY.

    Husain Khatumdi - Co-founder of Ekostay
    Husain Khatumdi – Co-founder of Ekostay

    Husain Khatumdi the Managing Director & Co-Founder, A graduate from Cass Business School, London with an entrepreneurship diploma from Queensland University of Technology, Australia, Designing, crunching numbers, strategizing, and putting plans into action are some of skills that define him. As the leader of EKOSTAY’s sales team, Husain’s experience rests in defining, measuring, and delivering key performance indicators (KPIs) across all verticals.

    Sohail Mirchandani - Co-founder of Ekostay
    Sohail Mirchandani – Co-founder of Ekostay

    Sohail Mirchandani the Chief Operating Officer & Co-Founder while heading the Finance department at EKOSTAY defines and manages the brand’s vision, ensuring that the company sticks to its core of having a great backend strategy and team, mastering the art of budgeting and analytical competence, and acing interpersonal relations to ensure that every client at Ekostay receives a personal touch and has the best homestay experience possible.

    Zishan Khan the Chief Acquisition Officer & Co-Founder A pharmacy graduate with a strong desire to remodel and transform run-down properties. Staying loyal to the brand’s goal, he takes a genuine interest in exploring new places, seeking and acquiring holiday properties.

    Ekostay – Idea and Startup Story

    Founded in 2018 by Husain Khatumdi, Sohail Mirchandani, Varun Arora, and Zishan Khan, the Entrepreneurial Fantastic Four, with a mission to cater the needs of vacation seekers on experiencing a pleasant and private stay of a vacation home. EKOSTAY currently has over 125+ properties spread over 15 cities to choose from. There is a lack of inexpensive hotel rooms in India, according to surveys. While the demand for such hotels is growing, developing hotels requires a large upfront investment that most consumers cannot afford. Homestays allow people to become micro-entrepreneurs by utilising already-existing houses. This enables local residents to generate revenue in rural regions and new locations with little or no investment. It also aids in the development of local communities and their financial independence.

    When you start your search for a vacation home on your computer, their sales and marketing staff is already working hard to ensure that EKOSTAY appears as one of your top search possibilities. After you’ve chosen Ekostay, they make the decision to make your stay as restorative and engaging as the location. Their city managers offer a smooth and quick check-in so you can bond and make memories in a delightful domicile. Their trained caretakers will be on hand to assist you throughout the day while you relax on the private lawns or relax in the private pools.

    Ekostay Logo
    Ekostay Logo

    Ekostay represents economical stay. In the uncertain time of the Covid 19 pandemic and sudden lockdowns in different parts of India they aim to provide comfortable and premium and isolated stays at an affordable price to all the guests that maintains a level of sanitation and hygiene at all properties throughout India. Their tagline “Think of a staycation, Think EKOSTAY” is because they try their best to personalise every staycation to cater to the needs of guests and provide them with utmost luxury and comfort which amalgamates into an unforgettable experience and whenever guests think of a staycation they immediately think of EKOSTAY.

    Ekostay – USP

    One of the strongest USPs of a homestay is the customised services it can offer to its guests. Their USP is that they cater to the masses and work towards making the homestay experience perfect and flexible according to the needs and demands of every individual guest. The first step to providing a Homestay experience is to redesign the properties to accommodate Homestay guests. Furthermore, keep in mind that your guests’ experiences are made up of numerous little, detailed moments, none of which should be overlooked. One can gain loyalty and favourable reviews by capturing those moments and feedback and reflecting those in their properties and hospitality. They have renovated properties, made pools for homestays, which is a great opportunity for homestay owners to renovate their properties to accommodate the guests. This not only provides homestay owners with a new revenue stream, but also gives the guests an opportunity to experience the best of the best in EKOSTAY properties.

    Ekostay – Business Model & Revenue Model

    The business revenue model at EKOSTAY is flexible and accommodates the needs/demands of the homeowners. Over 75% of Ekostay company is based on a fixed rental model, in which they lease a home and then sublease it to visitors for short trips. The remaining 20% operates on a revenue-sharing model, in which they form an exclusive partnership with a homeowner and divide earnings with them in a mutually agreed-upon set ratio. They don’t take on properties over which they don’t have complete control, thus all of the properties listed under EKOSTAY’s name are handled solely by us. They have been profitable since the beginning, and they intend to stay that way.

    Ekostay – Customer Acquisition

    As the case is with any startup, they started getting customers through networking and word of mouth. The customers gave Ekostay positive feedback and revisited the properties along with recommending the properties to their friends and family. Along with that EKOSTAY started advertising the properties on social media platforms which also attracted a lot of enquiries which got converted in loyal customers.

    At EKOSTAY, team has implemented various strategies that helped to attract and retain customers. EKOSTAY Annual Membership as well as various offers on festive occasions has helped them retain quite a few loyal customers. Targeted ads on various social media platforms along with positive feedback by happy and satisfied guests also attracts potential new customers. They are also rigorous with social media advertisements and posts about the newly launched properties in exciting new locations India which also gets them feedback and traction from guests who have stayed at EKOSTAY properties in the past as well as potential new customers.

    Ekostay – Challenges Faced

    The most challenging part was the pandemic of Covid 19 and various lockdowns that followed after uncertain intervals. Ekostay had a lot of rental properties in inventory and no guests as all domestic travel were at a halt to stop the pandemic from getting worse. As and when the restrictions got lifted, encouraging customers to visit their isolated villas and properties by reducing base price was a strategy they implemented to get the business up and running. Their top priority since then has been the safety of the guests visiting the property and for that EKOSTAY has implemented and maintained a code of sanitation and hygiene at every individual property. To prevent any further losses they introduced force majeure clauses in the contracts so that they do not lose capital due to events like the pandemic which are unforeseeable and out of control. Since the pandemic has eventually subsided, they hope situations like this never arise and the alternative accommodation industry can serve their guests with a comfortable stay.

    Ekostay – Marketing

    In these difficult times, social media has become one of the most efficient way to advertise. To effectively promote its property, the hospitality industry has to have a strong and active presence on social media. In these changing times, social media is not only a powerful but also an excellent marketing approach. Using social media to spread the word is the most Successful marketing campaign. Collaborating with influencers and providing them free stays in their villas was one of the strategies they adopted which got them quite a fair share of enquiries from viewers who then visited their properties for a getaway. As the word suggests influencers have a lot of engagement on their media platforms and people do obtain heavy amount of information from such presence and they used that platform in a positive way to socialise the brand EKOSTAY. With everyone moving online, now is the opportunity for them to embrace digital and increase the visibility of the property and brand. The simplest method to accomplish this is to partner with a Ekostay that will renovate your house, take several photos of the place, the view, and the facilities, post it on the internet, and handle your visitors and provide isolated, luxurious and affordable stays at premium properties with their own pools and lawns to the guests.

    Ekostay – Growth

    The company has had exponential growth over the span of the last three years despite of the effects of pandemic on the economy. Their clientele has responded positively regarding hygiene and their quality staycation at their properties. They are working towards acquiring and launching new properties at exciting new locations for a premium and affordable getaway for guests. They soon aim to expand business internationally to serve guests with extravagant getaways.

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    Ekostay – Competitors

    The alternative accommodation sector is a major disruptor in the hotel industry, and it is becoming increasingly institutionalised, with sophisticated revenue management but like every other industry they also have a fair share of competition to look out as well to learn from. Their competitors, to name a couple, Vista rooms and Saffron stays are also quite well known in the alternative accommodation industry which is noteworthy. Furthermore, in any sector, competition is always escalating, and having been in the game longer than the newcomers provide them an advantage over them since Ekostay have built a brand with a comparatively elevated recall value over the years, which they still require.

    Ekostay – Recognition and Achievements

    EKOSTAY received the ‘Iconic Most Premium Staycation Getaway” in October 2021 by one of India’s most esteemed print brand Mid-day. Receiving a prestigious award has made their efforts in the last few years’ worth it. Ekostay getting recognised at a renowned platform gave them an opportunity to gain more visibility and establish trust among potential customers which boosts them to do better every day and provide a premium stay at an affordable price to all their valuable guests.

    Ekostay – Future Plans

    They have quite a few new avenues and ventures to look forward to but considering the looming threat of the pandemic and the fragile state of the economy the workflow is comparatively slow. They are continuously expanding inventory for their guests in new territories pan India in beautiful and scenic locations by handpicking the most luxurious and premium properties and renovating them according to their aesthetics to ensure the best experience to the guests. Their aim is to expand business internationally in the coming years to host and serve guests on a multinational platform at Ekostay.

    They are committed to providing the best of Homestay experience by creating a personalised experience for each and every home-stay guest, regardless of their preference. They collaborate with their hosts to remove the hassle of hosting, to better manage their property and in turn provide them with an alternate source of income.

    FAQs

    Who are the founders of Ekostay?

    Varun Arora, Husain Khatumdi, Sohail Mirchandani, and Zishan Khan are the founders of Ekostay.

    When was Ekostay founded?

    Ekostay was founded in 2018.

    Ekostay serves in which cities?

    Ekostay serves in more than 15 cities in India.

    Who are the competitors of Ekostay?

    Some of the competitors of Ekostay are:

    • Vista rooms
    • Saffron stays

  • OYO Vs Airbnb – Competitors in Hospitality Industry of India

    A traveller, a tourist and a first-time backpacker. These three have something in common despite their differences in experience. They all want a peaceful night to stay after having a long walk to someone’s dream place or to a normal visit or a trip. The business of giving people home or a place to stay dates back to AD 707.

    The hospitality business is one of the indestructible industries wherein famous chains have generations of families leading, in particular, the empire built by people through hospitality. Hotels are the face of this industry. There are buildings that provide people with a place to stay with the utmost comfort. They make people feel cosy in corners not owned by them, yet have rights over them.

    The hotel industry was once owned by the owners with no regulatory bodies on the top of their heads. They had their own business model. But the new generation turned the system into a marketplace that involved filters of the various layers. The whole system was immediately converted into a well-oiled machine. A new system that sided with the huge Indian population.

    This huge system turnover was brought by a 22-year-old Indian Boy named Ritesh Agarwal.

    Current Status of Hotel and Tourism Industry
    OYO Vs Airbnb – Experience in Industry
    OYO Vs Airbnb – Front-end
    OYO Vs Airbnb – Places to Stay
    OYO Vs Airbnb – Stay Duration
    OYO Vs Airbnb – Business Model
    OYO Vs Airbnb – Revenue Model
    OYO Vs Airbnb – Customer Relationship Management (CRM)
    OYO Vs Airbnb – Marketing Strategy
    OYO Vs Airbnb – Social Media
    Conclusion
    FAQs

    Which is better – Airbnb or OYO?

    Current Status of Hotel and Tourism Industry

    The Tourism and Hotel Industry in India is one of the main drivers of growth among the services sector of the country. The tourism industry in India has significant potential as it has rich & diverse culture, historical heritage, a vast range of ecology, and flora and fauna. Indian is known for its geographical diversity, attractive beaches throughout the coastline, 27 world heritage sites, 10 biogeographic zones, 80 national parks and more than 441 sanctuaries.

    According to reports, over 39 million jobs were created in the tourism sector which equates to over 8% of the total employment in India. By 2029, the country’s tourism sector is expected to grow 6.7% to reach $488 billion, which will account for 9.2% of the country total economy. The industry has slowed down due to the Covid-19 pandemic in 2020 and 2021, as the country had many lockdowns and restrictions on travel.

    As per the Federation of Hotel & Restaurant Association of India (FHRAI), the Indian hotel industry had a loss of approximately $17.82 billion in revenue due to the ongoing pandemic. Despite taking a hit, the industry is looking to come back up with the help of schemes and opportunities provided by the government. The Indian Government is providing free loans to the MSMEs to help them deal with the crisis and revive the tourism sector.

    It is also planning to tap into a staycation, which is an emerging trend where people stay at luxurious hotels to revive themselves of stress in a peaceful getaway. With many upcoming developments, the international tourist arrivals are expected to reach 30.5 billion and generate revenue of over $59 billion by 2028. OYO and Airbnb have in many ways helped the industry grow especially in 2020 and 2021, as domestic tourists are expected to drive the growth post-pandemic.

    OYO Vs Airbnb – Experience in Industry

    Ritesh Agarwal, Founder & CEO of OYO Rooms
    Ritesh Agarwal, Founder & CEO of OYO Rooms

    When it comes to trust, experienced companies are trusted more.

    Ritesh Agarwal, the founder of OYO, formed the most famous chain of leased and franchised hotel chains. We Indians often refer to it as a place to look for the best deals for hotels, The Oyo Rooms. Oyo Rooms started 7 years ago with a bunch of hotels. The company has now expanded globally with thousands of hotels and vacation homes. Oyo Rooms was started in the year 2013.

    Ritesh is the second youngest self-made billionaire in the world.

    Airbnb's Founders
    Airbnb’s Founders

    Airbnb was conceived years ago by two roommates who rented out an air mattress in their living room. This turned their whole apartment into a bed and breakfast. This was done to sustain the high-priced living in San Francisco. This gave the company its name Airbedandbreakfast. Airbnb was started in 2008.

    So the winner here is, Airbnb, which has a lot of experience.

    Both the companies share a common goal, i.e. to provide accommodations, a safe place and comfortable corners to people. Yet both the companies have a very different working business model.

    Oyo is often believed to be India’s answer to Airbnb. This article will take you through the different business models and things that are uncommon between the two companies.

    OYO Vs Airbnb – Front-end

    OYO Rooms
    OYO Rooms

    OYO, as people know, is a website where one can go through various filters and find a hotel. But this is the front-end of how the Oyo company is. Oyo is a marketplace for only hotels.

    Airbnb
    Airbnb

    However, Airbnb is a marketplace that helps a traveller find an abode of his type. It can be for lodging, primarily homestays and homestays. It also lets the provider of the property fix a price. This helps both sides as well as Airbnb. The company has recently started offering experiences too.

    This shows a more varied and real-world applied concept. So, Airbnb has a better front-end.

    OYO Vs Airbnb – Places to Stay

    OYO Online Booking
    OYO Online Booking

    Oyo used to get hotels and book a majority of the rooms for a definite time. It then standardizes the room according to the Oyo standards. Later, list the hotels on its website with huge and heavy discounts. The whole business model used to work by acquiring clusters of hotels for a definite time. Standardizing them and making them proper before listing.

    Airbnb Online Booking
    Airbnb Online Booking

    Airbnb is based on the sharing economy. It makes owners share the property or rooms they own with travellers who in turn share money with the owners. It is believed to be the most successful business that works on sharing economy. A two-faced system that works for the public.

    OYO Vs Airbnb – Stay Duration

    Oyo works on hotel stays, so an individual can stay there for a good amount of time. Oyo rooms have no particular rule about leaving a room after a set date. The whole system is similar to how one can stay in a hotel. But in Airbnb, there is a 90-day rule. This rule was introduced in 2017. This rule is only for areas in London. The listings in that area cannot be occupied for more than 90 days.

    This makes Airbnb not suitable for very long.

    Oyo had 5,855 hotels in its network in the year 2016 with an inventory of over 68 thousand rooms. If compared to today it has a portfolio of more than 35 thousand hotels and 125 thousand vacation homes. It has over 1.2 million rooms across 80 countries and 800 cities.

    But, the founder and CEO of Oyo – Ritesh Agarwal made an announcement in the year 2017 that the company had evolved its Oyo business model to 100% franchise, managing, or operating. He also mentioned that his company would no longer go for hotel aggregation and will shift towards becoming a proper full-scale hospitality company. The CEO stated that this change in business model will reduce operational costs. Hence, improve service.

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    OYO Vs Airbnb – Business Model

    Oyo changed its business model to the Franchise model in the year 2017. The company earlier used to take up some rooms on lease and would sell them to customers. This model involves partnering with many hotels and asking them to operate as a franchise. Then selling their rooms to all the customers at competitive prices.

    Airbnb, known for not owning any of the properties. Yet known for having a business that does work on providing shelter. All the company does is providing a platform. A platform on which all the people can rent out properties they own or spare rooms to guests. The property prices are set by the owner themselves. But the company intervenes when it comes to the collection of money.

    The Business model of Airbnb is a multi-sided marketplace that connects all the travellers with the host and experience providers. The company makes money from the fees that come from bookings from stays and experiences. Airbnb’s model is exponential when it comes to growth.

    Airbnb has a better business model in terms of customer comfort and reach.

    Airbnb’s business model is quite simple yet very innovative which often dubs it as the world’s fastest-growing travel site.

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    OYO Vs Airbnb – Revenue Model

    Oyo charges around 22% of commissions. This has to be paid every month by the hotels’ owners. However, commissions may vary as per the services and features offered. Oyo also charges a commission out of the room reservation fee according to their services chosen.

    Airbnb makes all the money through commissions. It charges a 3% commission on every booking from hosts and between 6 – 12% from guests. Unlike Oyo, Airbnb takes reviews and feedback from both ends. Be it the host or the guest, this makes it a proper marketplace.

    Airbnb seems to have an upper hand at everything, making it a proper place to visit before actually vising one.

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    OYO Vs Airbnb – Customer Relationship Management (CRM)

    Customer Relationship Management (CRM) is a tool that lets a company store customer and prospect contact information. It also helps the company identify sales opportunities, record service issues, and manage marketing campaigns. Depending on what type of CRM a company has, they can get basic information about their prospective customer and interact with them. CRM helps the company in better analyzing and understanding their customers, which will help them offer better and more efficient customer service. Airbnb and OYO have very different CRM strategies.

    CRM of OYO

    The CRM that OYO uses is Blueshifts Programmatic CRM, which has helped the company to become a leader in 1:1 customer engagement across all marketing channels. With Blueshift’s precise recommendations and targeted triggers, OYO has been able to achieve 5X higher bookings from email and mobile channels. The company also has a mobile-first approach which has helped it to expand in over 500 cities across ten countries.

    CRM of Airbnb

    The CRM that Airbnb uses is Twilio, which helps connect with hosts. How it works is, when a traveller makes a reservation through Airbnb, the host has 32 hours to respond to a booking request and this is possible because of its CRM. There is systematic mobile communication between hosts and travellers using a text message. The host can also decide whether they want to accept or deny the customer. The company also uses Hootsuite social media management, which helps them monitor their follower’s growth and social CRM. The system also helps the company to find certain keywords that can eventually be used in campaigns.

    OYO Vs Airbnb – Marketing Strategy

    OYO – Marketing Strategy

    Oyo is known to use the 360-degree marketing method as it implies having a presence on all forms of digital and traditional media. They also have their unique room strategy which helps in attracting more customers with lower room prices in comparison to the base price of the hotel. Besides that OYO has made many successful multimedia marketing campaigns such as #AurKyaChahiye. It also shares location-based posts, promotional posts, which helps people to browse destinations to travel, check for new offers & discounts and encourage them to book OYO.

    Airbnb – Marketing Strategy

    Airbnb on the other hand uses the marketing approach to building and maintaining a strong community among its users. It also mainly targets long term loyalty from both the guests and hosts. The main marketing strategy of the company is to take your business in front of your potential guest and turn them into bookers. The customers who previously enjoyed their stay with Airbnb places are sent an email encouraging them to list their own property. Airbnb India aims to make its guests feel welcome, its app did the same, as it has a unified interface on Android and iOS platforms.

    OYO Vs Airbnb – Social Media

    OYO on Social Media

    Over the years the company has leveraged the power of social media as it has been able to retain its ranking and stay ahead of OYO competitors in the market. OYO currently has over 169k followers on Instagram and 65.4k followers on Twitter, with actor Sonu Sood as its current brand ambassador. On all the social media platforms, the company promotes itself as being a brand that offers two types of services which are promoting tourist spaces and a safe space to spend time with your loved ones in your own city. OYO also uploads many ad campaigns like ‘Fir Badhega India’ and ‘Sanitised Stays’ that helps in engaging with their customers especially during the COVID-19 pandemic.

    Airbnb on Social Media

    Airbnb has a different approach to social media marketing as it heavily relies on awareness generating strategy. The company also uses travel influencers to further promote the platform as it does its social media relies on user-generated content (UGC). So far the company has over 4.9 million followers on Instagram and 733k followers on Twitter. It also has over 6.3 million photos using #airbnb on Instagram which shows us how widespread the company is. Airbnb also heavily invests in video marketing as a part of telling its brand story, it currently has more than 500 videos generating over 100 million views on YouTube.

    Conclusion

    In a nutshell, Airbnb and Oyo share the same kind of services, i.e. hospitality service. Moreover, Airbnb is a website for people to list, find and rent lodging whereas Oyo is a chain of budget and premium rooms partnering with different hotels. Oyo is all about providing a customer experience within a stipulated budget range while Airbnb doesn’t control the customer experience as such.

    FAQs

    What is the difference between Airbnb and Oyo?

    OYO has more hotel rooms whereas Airbnb has more residential plots. In Airbnb, the apartment may have been misinterpreted, not so in the case of OYO as an audit is done every week.

    Are OYO Rooms similar to Airbnb?

    OYO’s business model is kind of similar to that of Airbnb, i.e. they are an online aggregator of budget hotels. Bookings for these rooms would be made via the website and the mobile app of OYO Rooms. However, the main focus is always is the quality of service provided.

    How to give your property to OYO Rooms?

    For OYO Rooms registration, you can write an email to partner@oyorooms.com or give a call to this number +91 70530 70530.

    Is OYO successful?

    OYO Rooms has been one of the most successful startups in India being the country’s largest budget hotel chain. It focuses on standardizing the hotels in the non-branded hospitality sector.

    Is Airbnb better than Oyo?

    OYO is better in terms of privacy and security. OYO assures quality service while Airbnb doesn’t guarantee anything from their end.

  • 6 proven startup strategies for entrepreneurs in the hospitality space

    This article is contributed by Sohail Mirchandani, Chief Operating Officer & Co-Founder, Ekostay, a homestay venture.

    Despite the setbacks, the hospitality and tourism industry is only projected to grow by leaps and bounds by the year 2029. For aspiring start-up owners, this is the motivation they were looking for. Because as intimidating it is to launch a start-up, it is even more of a challenge in the post-COVID era – knowing the industry can dip due to factors beyond its control. The journey will be a lot less daunting and more exciting if you know how to navigate the paths beforehand. These six proven startup strategies will help you turn your startup into a lasting success:

    1. Understanding your industry/ sector

    The first step before starting your entrepreneurial journey is to do exhaustive research of the industry or sector your start-up belongs to. For the hospitality space, this involves keeping up with the present and future movements in the local and foreign markets that are shaping it continually. For instance, understanding the growth predictions for hospitality and travel amidst the local and international markets can help you analyze customer demand and scope for penetration in the existing market. Another instance would be the rising demand for staycations and staycation packages post-COVID along with mandatory sanitization and a heightened need for adherence to safety/ cleanliness protocols.

    Also Read: Travel and Tourism Industry Trends in 2021: Post-Pandemic

    2. Learning from your competitors

    A core part of research also involves analyzing what your competitors are up to. Competitors aren’t rivals; they are your inspirators. You can take competitor research as a personal fuel to motivate you to carve your start-up goals and find your niche. Understanding what the major hospitality players are doing, specializing in, and preparing for will give you excellent insight into what the market is missing and how you can fill the gaps in what is lacking. That way, you can even gauge your core demographic and market your unique selling point better. For instance, travelers are on the lookout for luxury-like yet affordable staycations – something which top hoteliers might not be able to offer to meet their financial margins – but a start-up like you could fuse the two and rake huge profits.

    3. Building presence through marketing and social media

    At present, nothing reaches prospective customers more effectively than digital marketing and social media. As a startup, it is crucial to build a strong social media and digital presence to garner the maximum number of customers. Ensure that before you launch your website, you have registered on all the popular social media apps as well like Instagram, Facebook, and Twitter. Once you are operating, you can develop daily or weekly posts that engage with your key demographic. Make sure to grow your reach organically and resort to paid adverts rarely. Not many users appreciate being bombarded with or shown sponsored posts.

    4. Listening to your customers

    Listening to what your core clientele wants is a marker of trustworthiness and reliability – two qualities that you must establish as a start-up. For your startup venture to be a success, people need to know that you are listening to them and coming up with ways to serve their needs. One of the best ways you can tap into your customer’s mind is through social media. Social media applications enable customers to reach you directly and engage with them in numerous ways – including chat, email, call, direct message (DM), tags, and comments. So, if there is any negative feedback or complaint, use it as constructive criticism to change/ upgrade to what works best for the customer. Acknowledging this feedbacks will also make you adaptable and establish your business/ company as a people-first organization.

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    5. Being ready to adapt

    Reiterating on the point above, being ready to adapt is one of the most vital essentials of transforming from a hopeful startup to a successful large-scale venture. The world we live in today is hyperdynamic and constantly evolving. Just last year, no one would have predicted how the coronavirus would take our world by storm. And while the hospitality sector took one of the biggest hits, it still found a way to get back on its feet and adapt to people’s changing needs. So, if you cling on too tight to your old ways, you run the risk of becoming inflexible and losing out on revenue/ profits in the long run.

    6. Re-investing any money earned into the start-up

    Those who save a penny today earn a penny later. Saving whatever income you earn from your start-up helps you stay prepared against emergencies that require your immediate attention. Resist the urge to spend away from your earnings or profits on your personal desires at least for a few years from your launch. Re-invest that money into your startup and see the scope of returns multiply within the next few years. Focus on the aspects of the business that need financial assistance and improvement. Sow to reap more and grow beyond expected margins.

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    To Conclude –

    The hospitality industry is an exciting space, especially for spirited entrepreneurs. Before COVID-19 hit, the hospitality space was thriving and ever agile. It is no secret then that the impact of COVID-19 left several leading players, let alone young start-up owners struggling to stay afloat. However, with almost everyone vaccinated and the resumption of local and international travel, the hospitality sector is seeing a bigger, better, and wiser revival. Now is the perfect time to strap on your entrepreneurial gear and kick-start (forgive the pun) your start-up journey with these six proven-to-work strategies!

  • Airbnb- Personalizing accomodations in your budget!

    The idea of welcoming a couple of strangers into your home is scary. And so it letting yourself stay in a strange home is. But almost a decade ago, some brilliant minds saw an entrepreneurial opportunity in this and launched Airbnb. These brilliant minds are none other than Brian Joseph Chesky, Joseph Gebbia, and Nathan Blecharczyk who launched Airbnb in 2008.

    Airbnb Highlights

    Company Name Airbnb
    Headquarter San Francisco
    Sector Hospitality, Travel Accomodation
    CEO Brian Joseph Chesky
    Founded 2008
    Website airbnb.co.in

    Airbnb – About and How it works
    Airbnb – USP and Innovation
    Airbnb – Founders and Team
    Airbnb – How did it start?
    Airbnb – Startup Launch
    Airbnb – Business Model and Revenue Model
    Airbnb – Competitors
    Airbnb – Funding and Investors
    Airbnb – Growth
    Airbnb – FAQs

    Airbnb – About and How it works

    Airbnb is nothing but an accommodation marketplace that provides access to over 6 million unique places to stay comfortably and at their leisure in nearly 100,000 cities and 191 countries. Interestingly, Airbnb also offers access to local communities and interests through more than 30,000 activities run by hosts across over 1,000 markets around the world so that you can be a traveler and not just a tourist. It entered India in 2016. Since its inception in India, the company has around 45,000 listings with Goa being it’s a most popular network with 6000 listings.

    So all in all, one can safely say that Airbnb is an online marketplace that connects locals who want to rent out their house to immigrants who are looking for accommodations in the local area.

    Airbnb – USP and Innovation

    There are quite a few unique selling factors of Airbnb including a combination of factors, but the highlights are primarily the financial ones.

    • The guests who come through Airbnb get good value accommodation with a wide array of price points that the user can choose from. This ranges from a few pounds a night to hundreds and thousands with often such prime locations where a hotel would cost infinitely more than Airbnb accommodations.
    • Airbnb hosts can cash in more on spare space that they have available in their homes. So it’s a win-win for the guests and the hosts and also for the platform, Airbnb.

    Airbnb – Founders and Team

    • Brian Joseph Chesky, CEO – Brian is a very known American technology entrepreneur and also the co-founder and CEO of Airbnb. Chesky was named one of Time’s “100 Most Influential People of 2015”. Chesky attended the Rhode Island School of Design and received his Bachelor of Fine Arts in Industrial Design. Post that, Chesky worked as an industrial designer and strategist at 3DID, Inc. in Los Angeles. And then he went on to co-found Airbnb with his fellow co-founders.
    • Joseph Gebbia, CPO – Joseph is one of the finest designers and Internet entrepreneurs around the globe. Joseph has quite a few recognitions on board like he was listed in BusinessWeek’s Top 20 Best Young Tech Entrepreneurs in the year 2009, followed by being named in Inc. Magazine’s Thirty Under Thirty in 2010, and in 2013, he was named in Fortune Magazine’s Forty-under-Forty.
    • Nathan Blecharczyk – Nate is an American billionaire businessman. He is the co-founder and chief strategy officer of Airbnb. Also, he is the chairman of Airbnb China. Nate is a Harvard Graduate and was working as an engineer at OPNET Technologies before co-founding Airbnb.

    Airbnb – How did it start?

    In case you’re wondering how Airbnb actually started? This is how it did. The Airbnb story is full of determination and adventure. All of it started in 2007 when Airbnb founders Brian Chesky and Joe Gebbia had just moved from New York. They were legit surviving without employment and were having serious trouble paying their rents. So to overcome this situation, they were looking for a way to earn some extra cash. And it’s during this time that the co-founders noticed that all hotel rooms in the city were booked because there were a lot of visitors coming to the local Industrial Design conference.

    The young and talented minds saw an opportunity here and following that, they bought a few airbeds and quickly curated and put up a site called “Air Bed and Breakfast.” Their idea was quite basic and it was all about offering visitors a place to sleep and a lush breakfast in the morning. This freshly turned entrepreneur duo charged $80 to the visitors for each night.

    And it quite turned out that their idea succeeded and the first Airbnb guests were born. And they were a 30-year-old Indian man, a 35-year-old woman from Boston and a 45-year-old father from Utah sleeping on their floor. And that’s how Airbnb was born.

    Airbnb – Startup Launch

    Airbnb started in 2008. But it came to India almost after 8 years of its inception, i.e., in 2016. Soon after Airbnb’s launch in India, it announced a strategic partnership with India’s largest media conglomerate, The Times Group. This association was done in order to expand Airbnb’s operations in the country and build a more channeled and a localized network. It had just been a year after this collaboration that Airbnb launched a travel category called Trips. This was initially available in Delhi and then later expanded to Goa.

    In June 108, Airbnb launched ‘Experiences’ in its ‘Trips’ category to offer its travelers the chance to explore unique destinations by providing them with handcrafted activities powered by locals.

    “We have offered Experiences in New Delhi and Goa and the product is doing quite well. It grew over sixfold last year, and will continue to grow at a very fast rate,” said Nate.

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    Airbnb – Business Model and Revenue Model

    This is how the business model of Airbnb works. Airbnb is an online marketplace, which lets its users rent out their properties or spare rooms to guests. In this process, Airbnb takes 3% commission of every booking from the hosts, and between 6% to 12% from the guests.

    Airbnb offers a plethora of criteria to list for or search property in a particular destination. These criteria range from locating or renting a shared room to a complete house, to having a lavish swimming pool to having basics like TV and washing machines. There are pictures of the property listed on the site, and both the hosts and the guests get a full map listing.

    Airbnb – Competitors

    Though the concept is new and recently gained all its popularity, Airbnb still faces tough competition in India. Its main rival in terms of market standing in the country is a homegrown hospital chain namely, Oyo Hotels and Homes. Though both are different in how they run and operate, they still cross paths as both of their end customers are the same. Oyo mainly operates as a full-stack fulfillment-led model where it normally acquires the entire hotels and homes on a franchise-based or leasing model and then goes on to renovate the same. Whereas on the other hand, Airbnb focuses majorly on the homestay accommodations.

    Airbnb – Funding and Investors

    Airbnb has received an all-round of $4.4 billion in funding over the years and currently is being valued at $35 billion.

    • In January 2009, in just one year of its inception, Airbnb received $20,000 in venture funding from Y Combinator.
    • The next funding round came in April 2009, when Airbnb raised $600,000 from Sequoia Capital, with renowned participants like Youniversity Ventures partners Jawed Karim, Keith Rabois, and Kevin Hartz.
    • This was followed by funding round in November 2010, where the company raised $7.2 million in Series A funding led by Greylock Partners and Sequoia Capital.
    • Then came the mega funding year, July 2011, when the company went on to raise $112 million in financing round which was led by Andreessen Horowitz. Other investors who participated in this funding round were Digital Sky Technologies, General Catalyst Partners, and A-Grade Investments partners Ashton Kutcher and Guy Oseary.
    • In April 2014, Airbnb again closed an investment of $450 million by TPG Capital. Right around the same time, it acquired additional funding by Andreessen Horowitz, Sequoia Capital, Dragoneer Investment Group, T. Rowe Price and Sherpa Capital.
    • Then came the June 2015 funding, when Airbnb raised $1.5 billion in Series E funding. This round was led by General Atlantic, and there was also some huge participation from Hillhouse Capital Group, Tiger Management, Kleiner Perkins Caufield & Byers, GGV Capital, China Broadband Capital, and Horizons Ventures.
    • In September 2016, the company raised a grand amount of $555.5 million in a funding round led by Google Capital and Technology Crossover Ventures.
    • And then again a year later, in March 2017, the company raised $1 billion in funding, which brought its total funding to more than $3 billion and at this point in time Airbnb was valued at $31 billion.
    • It’s latest funding round happened in September 2018, where it came to raise $25.92 million from two undisclosed investors.

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    Airbnb – Growth

    • Airbnb India hosts collectively earned more than to $28 million (over Rs 190 crore) till date
    • The Indian hosts have welcomed more than 800,000 guests
    • Guests in India, through Airbnb, spent $61 daily, on an average
    • Airbnb has seen a steady rise in popularity in India over the years and the number of listings is increasing at an increasing rate of 150%
    • Airbnb’s business in India has doubled over the years
    • On average, 1.8 million Indian have used Airbnb in its 4 years of operations in India
    • Airbnb India recently signed a strategic partnership with its main competitor, OYO Rooms. One of the prospects of this association include listing OYO’s properties on Airbnb
    • Airbnb recently introduced ‘Plus Homes’ in India, where the company is featuring homes with high ratings.
    • Globally, Airbnb has over 2 million listings
    • And is currently active in over 190 countries and 34,000 cities.
    • Airbnb hosts, throughout the world, have hosted over 40 million guests.
    • The company is worth an estimated 35 billion

    Airbnb – FAQs

    What is Airbnb?

    Airbnb is an online marketplace that connects locals who want to rent out their house to immigrants who are looking for accommodations in the local area.

    How does Airbnb work?

    Booking is made through Airbnb where the traveller pays the amount mentioned by the host and some additional money as transaction charges. The host approves the booking. Traveller stays there and finally, Airbnb pays the amount to the host after deducting their commission.

    Who are the competitors of Airbnb?

    Airbnb competitors in India:-

    • HomeToGo
    • FlipKey
    • OneFineStay
    • Vrbo
    • HouseTrip

    What are the rules for an Airbnb?

    Some common house rules examples that many Airbnb hosts include in their listing pages:

    • No loud noise after 11 pm
    • No food or drinks in bedrooms
    • No parties or events
    • No smoking
    • No pets / Pets allowed

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  • BroEat! – India’s first WhatsApp based eCommerce Platform!

    The food delivery segment will not be the same, even after the lockdowns lift — largely because of the startups which have innovated to adapt to physical distancing and hygiene upgrades. One of the startups front lining this change is BroEat!.

    It is India’s first Whatsapp based home-delivery platform to discover menus & order food directly from your favorite local restaurants & support the community! The idea is to make sure restaurants, home chefs, and small businesses earn the margins they deserve and help save jobs.

    Read this article to know everything about BroEat!, what it does, how was it started, services, founders, business model, pricing, plans, and achievements.

    BroEat! – Company Highlights

    Startup Name BroEat!
    Headquarter Mumbai, India
    Sector Hospitality
    Founders Karan Tanna & Pawan Shahri
    Founded 2020
    Website broeat.com
    Contact Email ready@broeat.com

    BroEat! – Vision and Mission
    BroEat! – Target Market Size
    How was BroEat! Started?
    BroEat! – Product/Services
    BroEat! – Founders and Team
    BroEat! – Name, Tagline, and Logo
    BroEat! – Business Model and Revenue Model
    BroEat! – Startup Launch
    BroEat! – Recognition and Achievements
    BroEat! – FAQs

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    BroEat! – Vision and Mission

    The company’s vision is to build a platform that the Indian F&B industry can depend on with transparency, open business practices & sustainable methods.
    Its mission is to help this platform scale to a PAN India level where all the restaurants in India can benefit from this and grow their home-delivery business most sustainably.

    “Our core belief is that by providing sustainable tech solutions to the F&B industry will help them not only thrive and become profitable and more sustainable but also help them save jobs”, says BroEat co-founder Karan Tanna.

    BroEat! – Target Market Size

    As per a recent survey, the Indian online food delivery market size is USD 2.9 Billion. The entire business is largely shared between 2 major market players right now. BroEat! will be the only third platform with a countrywide presence and the first-ever WhatsApp based platform in India.

    In the next 5 years, the home delivery industry is going to gain major share and might become equal to the dining out industry as more and more people find great convenience in ordering in. This boom will encourage bigger brands in the home delivery segment and we might see more home-grown brands scaling up to 2000+ outlets which currently are only done by the likes of Domino’s & McDonalds.

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    StartupTalkyRishabh Rathi

    How was BroEat! Started?

    Being in the restaurant business himself, BroEat co-founder Pawan Shahri, soon into the lockdown, figured out that the home-delivery business is going to be a major chunk of the revenues to be make. To ensure that the module is sustainable, they had to figure a way out to increase the margins there and avoid their dependability on aggregators who charge 25-28% commission per order.

    It was about time that the industry needed a platform that had reduced commissions, and was transparent with consumer data. Also, keeping the services unbundled is necessary for the restaurants to be able to take up more responsibility. Soon the co-founders got sketching on base structure and started seeking various stakeholders in the industry from different business categories. When Karan and Pawan realized that this was a unanimous pain point, they decided to jump into it and take it head on.

    “Our conversations with our colleagues from the industry and a deep understanding of the business had validated our idea. We also got in touch with many people to understand a consumer point of view”, says Pawan Shahri, co-founder of BroEat.

    During the pandemic, it is only in a human to understand the pain of local business and to do their bit to help and support them. The consumer sentiment helped them drive this further and that’s the motive to run the platform.

    BroEat! – Product/Services

    BroEat! is the first-ever WhatsApp based platform in the online home delivery space. Since WhatsApp is easier to use, it is a more approachable platform, and the consumer need not download any apps. BroEat! helps restaurants earn the margins they deserve as the startup charges a bare minimum platform fee starting INR 5/- per order. This brings down the overall expense a brand might have to as low as 5-6% per order.

    Karan and Pawan are trying to craft business for a new type of supply chain to make sure the consumers get the experience and service they need. Simultaneously not hitting the pockets of the merchant partners and restaurants. When anyone orders from BroEat!, they help restaurants make deserving margins, which helps them save jobs & sustain the business. That supply chain going forward supports a lot of local workers and vendors in the restaurant network.

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    BroEat! – Founders and Team

    Karan Tanna and Pawan Shahri are the Founders of BroEat!.

    Pawan and Karan - Founders of Bro Eat!
    Pawan(right) and Karan(left) – Founders of Bro Eat!

    Karan Tanna – Karan founded the nationwide Ghost Kitchens chain, a frontrunner in the dark kitchens segment, and his Yellow Tie Hospitality manages a host of F&B franchises, working with over 200 restaurants Karan featured on Forbes 30 Under 30, Entrepreneur 35 Under 35 & also was a part of the GQ’s most influential young Indian’s list.

    Pawan Shahri – Pawan’s portfolio includes some of Mumbai’s more intimate, popular casual dining restaurants like Butterfly High, London Taxi, The Bigg Small Cafe + Bar & Oi Lat-Am Kitchen & Bar. Currently, 26, his journey started at the age of 16 running one of the most successful experiential marketing firms in the F&B business,

    Both the co-founders were friends and industry colleagues who often shared their expertise in their various fields. The current company size varies between 8-10, but they have an expansion plan of 100+ employees. Karan looks more into operations & the tech front and Pawan look into marketing, brand positioning & building a strong consumer connect for the platform.

    BroEat! – Name, Tagline, and Logo

    BroEat! Logo
    BroEat! Logo

    The name BroEat! Was born out of a conversation between Karan & Pawan that stuck along. Rather than a story, it was a night of brainstorming and pushing one to the other to eat. It clicked and stuck on.

    BroEat! – Business Model and Revenue Model

    The BroEat business model is tier pricing model. The charges for order generation platform fee are:

    • INR 5/- upto an order value of INR 300/-
    • INR 10/- upto an order value of INR 1000/-
    • INR 20/- upto an order value of 2000/-
    • INR 30/- for an order value above INR 3000/-

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    BroEat! – Startup Launch

    As social media has a stronghold in today’s world, the company is in a continuous process of building a strong social media presence. Also with the founders having 10+ years of experience in the hospitality sector, word-of-mouth publicity holds a major hand in getting the restaurants on-board. The platform goes live in a week and the founders are quite certain that their marketing activities will get them the desired results.

    BroEat! – Recognition and Achievements

    BroEat! has been featured with Forbes, The Hindu, The Economic Times, and many more as India’s first Whatsapp based e-commerce platform to discover menus & order food directly from your favorite local restaurants & support the community!

    BroEat! – FAQs

    What is BroEat?

    India’s first Whatsapp based home-delivery platform to discover menus & order food directly from your favorite local restaurants & support the community!

    How do you order from BroEat?

    The process is simple. You need to add the BroEat business account number as a contact, you reach out with a simple ‘hello’ via WhatsApp and you are sent a link to their platform. You can then proceed as with a normal food order and make your payment. Then you are redirected to WhatsApp where you receive confirmation messages, receipt, and delivery updates.

    When was BroEat founded?

    BroEat was founded in 2020 amidst the lockdown.

    Who are the Founders of BroEat?

    Karan Tanna and Pawan Shahri are the Co-Founders of BroEat.

  • Aiosell Technologies – Taking the Hospitality Industry to the Next Level!

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Just when we thought the hospitality industry couldn’t get any better and automized, Siddharth Goenka launched Aiosell Technologies in 2019. This venture is all about automated pricing & revenue management for hotels, combined with an all-in-one integrated hotel marketing platform.

    The hotel industry is still using archaic systems with static prices and independent systems that do not integrate well with each other and leaves money on the table. Aiosell aims to solve the vision of maximizing revenues for the hotel industry, using automation, AI, and integrated technology systems. The owners of the Aiosell are hotel owners themselves, and hence this company was born out of a need in their own business. When they realized, there wasn’t a suitable alternative available in the market solving these issues, they decided to build a technology solution.

    Aiosell Technologies – Company Highlights

    Startup Name Aiosell Technologies
    Headquarters Bangalore
    Sector IT
    Founders Siddharth Goenka
    Founded 2019
    Parent Organization Aiosell Technologies Private Limited
    Website aiosell.com

    About Aiosell Technologies and how it works
    Aiosell Technologies – Target Market Size
    Aiosell Technologies – Founders and Team
    Aiosell Technologies – How did it start?
    Aiosell Technologies – Name, Tagline, and Logo
    Aiosell Technologies – Startup Launch
    Aiosell Technologies – Business Model and Revenue Model
    Aiosell Technologies – Startup Challenges
    Aiosell Technologies – Funding and Investors
    Aiosell Technologies – Growth

    About Aiosell Technologies and how it works

    The product of Aiosell uses several automation and AI algorithms to change prices in real-time to ensure the hotel gets the maximum business. When the demand is high, the price increases and vice versa. The system uses many other unique parameters to adjust these prices, including occupancy, demand, seasons, weekday, booking window, dates, etc.  

    The USP of the product is to use all these products in a very simple, easy to use method to automate dynamic pricing and simplify revenue management. The product also integrates all aspects of hotel marketing together to give a one-stop-shop marketing product for hotels.

    The product started off using a simple pricing automation tool. Today, it includes all technology components of the hotel industry including Rate Shopper, Reviews Manager, Website & Booking Engine, Analytics & Reports, Travel Agent portal, etc. This pivot was made because the team realized that many hotels could not only use one aspect of hotel marketing, it needed to integrate all these aspects to give the best results.

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    Aiosell Technologies – Target Market Size

    Aiosell’s target market consists of independent and chain hotels of all sizes (5 stars, 3 stars, 1 star) and home-stays & apartments that use online channels to get bookings for the hospitality industry.  

    There are about 6 million hotels only in the organized segment. Adding the unorganized segment and home-stays, this number can go above 10 million. Over the years, this number will only grow with more alternate accommodation being added to the supply.  

    “Since this is a highly fragmented market, our market share targets will be less than 1% of the market, which is a sizable opportunity for a B2B business,” said Siddharth Goenka, founder of Aiosell.  

    Aiosell Technologies – Founders and Team

    Siddharth Goenka is the Founder & CEO of Aiosell Technologies.

    Owner Aiosell Technologies
    Siddharth Goenka – Founder, Aiosell Technologies

    He is a Software Engineer from Purdue University and an MBA from the Indian School of Business, Hyderabad. He has previously worked in Microsoft as Software Developer and in Accenture as Management Consultant. Then, he went to join his family business and conceived Octave Hotels, a business hotel chain that grew to 7 hotels in 3 years. Siddharth brings a mix of software development, hotel owner, and marketing professional experience which is key to Aiosell.

    Team of Aiosell Technologies
    Team of Aiosell Technologies

    The co-founder of Aiosell Technologies is Smriti Singh, whom Siddharth met because her husband was Siddharth’s boarding school friend. She is IHM, Bangalore graduate and was ex Revenue Manager at ITC hotels.  

    Siddharth looks after the overall product development, vision, and overall growth of the business. Smriti looks after client satisfaction and success. The team comprises 15 members, the average age of the team is 23 years. The culture at Aiosell is very young, energetic, flexible, and innovation-driven.

    Hiring funda at this company is based on two pillars – attitude/potential, and honesty/ethics. Competence is given some weight but not very weightage, as that can be developed in other two qualities are present.

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    Aiosell Technologies – How did it start?

    “Since we were in the hospitality industry, this was a need that was glaringly visible in the industry. The industry was rapidly changing with an increase in internet bookings/smartphone usage and changing customer behavior.” Added Siddharth Goenka, owner of Aiosell Technologies.

    They were first trying this idea out manually using excel sheets, and when they succeeded, the team decided to make an automated product around it. For one year, they ran the concept manually with a service-led model, and when they were confident of the benefits involved, they changed it to a product-based approach.

    The initial people they spoke to were friends and family in the hotel industry, who were new to the online business and had not wrapped their heads around increasing their hotel revenues digitally.

    AIOSELL – AIO means all in one, and also a pun on artificial intelligence ‘o’ttomation. The name and logo for this B2B company were formed based on some initial research and brand name availability.

    Aiosell Logo

    Aiosell Technologies – Startup Launch

    At Aiosell, product first – marketing second is the approach, rather than the other way. Make the product so unique and desirable, that it starts selling itself. Aiosell has several partnerships with other technology companies and revenue management companies, who provide complimentary services or products to its offering.

    The company has formed revenue-sharing arrangements with these companies to grow. The team has now also started attracting leads through traditional product marketing channels like Google, Facebook, Linkedin, and Youtube.

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    Aiosell Technologies – Business Model and Revenue Model

    The business model of Aiosell is SaaS/subscription-based. The listings at Aiosell are priced anywhere between $5 to $10 per room per month. Like in any Saas model, margins are more than 30%, and currently, it has got the business organically without burning a lot of cash.

    Aiosell Technologies – Startup Challenges

    One major challenge that Aiosell faced was to convince a large chain of hotels to try and use the product. This was accomplished by offering them free trials and personal attention by the founder, Siddhart Goenka. It was also followed by ensuring all their requirements kept getting back into the product development cycle so that the customer was satisfied. Word of mouth references from happy customers is the most relevant marketing channel to grow the business.

    Aiosell Technologies – Funding and Investors

    In June 2019, Aisoell technologies raised an amount of INR 10,00,000 through an early stage self-funded round.

    Aiosell Technologies – Growth

    • 150+ hotels located in 10+ countries and 100+ cities
    • Revenue generation- $20,000 per month ($250,000 per year)
    • Profit margins are as high as 20%.
    • Customers across India, Thailand, Malaysia, Singapore, Philippines, Russia, Kenya, Belarus, Greece, USA, and Canada.

    Aiosell Technologies – Future Plans

    “We want to grow to 500 hotels in 1 year and 5000 hotels in 3 years.” Concluded Siddharth Goenka while talking about his future plan.