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Technology-based hotel startup Treebo plans to expand its franchisee business model to rope in about 500 hotels across 60 cities in India by mid-2017.
The firm currently has nearly 125 properties in 25 cities, Siddharh Gupta, co-founder, said.
Treebo, India’s first and only start-up in hotel industry, is “not a hotel aggregator” but a franchisee-based budget hotel brand which gets 18-20% of tariff as its share, he said.
Treebo is a tech-enabled, asset-light brand offering cent per cent quality guarantee to travelers by offering clean and fresh rooms, prompt service, free wi-fi and complementary breakfast.
The company, which launched its operations in June 2015, had announced its Series A investment of USD 6 million (Rs.40 crore) by leading Indian venture capital funds SAIF Partners and Matrix Partners.
India’s hospitality sector is estimated to be worth USD 20 billion with one million rooms, of which 70% fall in budget category. “We are successfully competing with OYO Rooms, Ginger Hotels, Ibis, Lemon Tree and Sarovar Hotels, among others, thanks to our franchisee model and quality services,” Gupta said.
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