Luxury Villa rental start-up has raised Rs 40 crore led by DGS Consumer Partners with participation from Capri Global and CA Holdings. Co-Founder Amit Damani said that the start-up was valued at Rs 220 crore after the funding round.
The start-up partners with luxury villa owners and provides them with manpower, operational expertise and marketing through app and website. “We take the entire property as a management contract and we are responsible for the entire management and marketing of these properties,” said Damani. It operates about 500 villas pan-India and provides and entire experience to customers by taking care of food, house-keeping, and other services. This is different from Airbnb which does not operate or manage homestays.
The investment will aid the brand expand its footprint across the country to over 2,500 villas, The company’s key customer base is people who travel in groups and the average ticket size is about Rs 25,000. StayVista’s business model is to charge a commission of about 30% on the total ticket size. Last year the company made a revenue of about Rs 100 crore and aims to generate Rs 1,000 crore in 3-4 years. By partnering with StayVista, property owners can get a yield of 8% compared to the 2-3% yield of the real-estate market generates.
