Stanza Living invests $10 million in managed apartments segment; to launch 1.2 lakh rooms by 2026

Stanza said that its managed apartments are aimed at targeting singles, young couples and small families who wish rent a room or a full apartment. (Representative image: MoneyControl)

Managed accommodation company Stanza Living said on June 2 that it has made its debut in the managed apartment segment with an initial inventory of 5,000 rooms and an investment of $10 million. The company launched the customised apartments in six cities - Delhi, NCR (Gurugram), Bangalore, Hyderabad, Pune and Chennai. The company plans to grow this new portfolio to 1,20,000 rooms by 2026.

The managed apartment segment market is valued at $9.8 billion and Stanza Living aims to grow into this segment apart from its existing managed accommodation businesses for students and young working professionals, said the company.

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Sahil Ludhani, Senior Vice President, Revenue and Growth, Stanza Living said, “We are excited to foray into a high-potential category like managed apartments. We have always focused on understanding the nuanced needs of diverse consumers and deploying intelligent technology to craft their living experiences. With this vertical, we will continue to set new benchmarks in consumer experience.”

The company said that its managed apartments are aimed at targeting singles, young couples and small families who wish rent a room or a full apartment.

Stanza Living offers dedicated solutions for students and working professionals and has an inventory of over 75,000 beds across 23 cities in India.