Tapping The Budget Segment in The Hospitality Industry
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They are the 35 boldest entrepreneurs of India who are changing the game in various industries and together they represent the optimism, inventiveness and boldness of India's millennial entrepreneurs. They have not just questioned the conventional wisdom but answered it with their fiery and risky business undertakings. They have inspired every young Indian to not shy away from breaking the status quo, rewriting the rules and transforming the world.
Entrepreneur Magazine is glad to present Sidharth Gupta, Founder, Treebo Hotels who made it to our 35 under 35 special.
Started at a time when the nearest competitor was “demonstrating gravity defying growth and seemed to have found a business model that was unstoppable, unbeatable”, says Sidharth Gupta. Treebo had a tough time in the initial phase to validate its model of business that did not rely on unrealistic discounts and freebies to the customers.
What differentiates Treebo from hotel aggregators is the fact that the in-room inventory is completely owned by the company, giving them larger control on the properties. Today, Treebo has become the third largest hotel chain and the largest budget hotel brand in India with 230+ properties and an inventory of 5600+ rooms in 45+ cities, getting a total of $ 23 million as investments, which is just a fraction of what the nearest competition has raised and spent. Also, it enjoys a rate of 75-80 per cent occupancy that is above the market average by 20-30 per cent.
(This article was first published in the February issue of Entrepreneur Magazine. To subscribe, click here)