Treebo, a high tech-enabled asset -light budget hotel chain raised $34 million capital from Hong-Kong based investors and venture capital firms. This amount, as said by a co-founder Sidharth Gupta, is going to be put to enhance customer experience, build a stronger brand, strengthen its technology and expand in newer cities. Their existing hotel chains like Ginger Hotels and Lemon Tree weren’t truly budget as their average price per night was Rs.3500. Keeping in mind the needs of a budget traveller who doesn’t want to spend above Rs. 2000 for a comfortable stay, the company is aiming to add more value for money additions to its infrastructure. This largest budget hotel chain with over 400 properties, 10,000 rooms across 85 cities, plans to double this network size over the next 12-18 months. They recently added a premium category offering ‘Treebo Select’ for travellers looking for service quality, amenities and experience of a 4-star hotel; 50 more properties will be added under this brand by end of this year.
Source: Business World