India-headquartered private vacation home network SaffronStays hopes to have 600 properties on its platform by 2020 as part of an international expansion that will include Dubai, according to co-founder Davendra Parulekar.
At the moment, SaffronStays has 100 villas across 40 Indian destinations. By the end of 2020, it is aiming for 600, including 100 in international markets.
“We will follow the India traveller and go where he goes,” Parulekar told the Times of India. “For the time being, we are looking at exotic destinations like Bali, Sri Lanka, Dubai and London are our target locations and planning to expand in these countries within a span of two years.”
As part of the expansion plans, the company plans to onboard heritage homes, farmstays, luxury stays and villas that can cater to larger groups and events.
“We will invest in onboarding top quality private estates and vacation homes,” Parulekar added. “Much of this investment will go towards hiring the right staff, training them, deploying the right technology to manage and operate these homes.”
Additionally, the company is looking for additional funding, following an earlier pre-series Round A funding round from Sixth Sense Ventures.
“We are looking a raising round of funds soon,” he said. “We plan to raise $20 to $30 million over the next two years.”
SaffronStays doesn't own the properties on its platform, but curates boutique homes and partners exclusively to manage the hospitality operations, branding, marketing and reservations, Parulekar said in 2017.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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