Mumbai, Oct 23 (PTI) SaffronStays, which is mainlyoperational in locations around Mumbai, Pune, Goa, is lookingto expand to most parts of the country.
Currently, SaffronStays is operational around Mumbai,Pune, Goa and a few locations in Uttarakhand, Rajasthan andTamil Nadu and plans are afoot to rapidly expand to most partsof the country, the micro-hospitality company said in arelease issued here.
Currently, they have 28 homes and plan to onboard 40exclusive homes (over 200 rooms) by the end of December, 2017.
SaffronStays presently has properties in Bhugaon,Murud, Alibaug, Kihim, Dapoli, Mulshi, Matheran, Panchgani,Karjat, Khopoli, Gholvad, Kamshet, Lavasa, Panvel, Goa,Kodaikanal, Ooty Gwaldham and Jaipur.
The goal is to have over 2,000 homes managed andbranded by SaffronStays in the next 5-7 years, it said.
Started in 2015, SaffronStays has clocked over amillion USD in revenues and hosted over 6,000 families fromMumbai and Pune.
"We wish to be the dominant managed vacation rentalscompany for the discerning Indian traveller. We aim to offerhand-crafted Indian hospitality and now that we haveunderstood all the operational problems associated with themodel and ways to overcome them, we think it is time to raisefunds to scale up the business.
"We are looking to raise 20 million USD, to fund theseexpansion plans," SaffronStays co-founder Devendra Parulekarsaid.
He said, a large part of the funds raised will beinvested in technology, expanding network of exclusive homesacross the world and also establishing the brand. PTI SMRMT.
This is unedited, unformatted feed from the Press Trust of India wire.