Resort aggregator V Resorts raises $4 million in Series A round
Plans to increase footprints in over 1000 locations in India in the next two years.
June 27, 2017 / 12:56 PM IST
V Resorts, an asset-light resort chain raised USD 4 million in its Series A funding from Seedfund and RB Investments.
Founded in 2011 by Aditi Balbir, former CFO of Bliss Inns, V Resorts aggregates and takes over the management and operations of boutique resorts.
“The travel space is flooded with such aggregators but no player is currently targeting the problem of on-ground experience,” said Balbir.
Currently managing around 70 resorts across 15 states in India, the company plans to increase footprints to over 1000 locations in India in the next two years.
“South East Asia is amongst the favourite overseas destinations with Indians, so it’s a prudent decision to focus our initial expansion efforts there,” said Balbir.
“In this challenging ecosystem, V Resorts has a differentiated business model that allows for high profitability with occupancy increase. And given the high capital efficiency, the model can be scaled quickly”, said Harshavardhan Bothra, RB Investments Pte Ltd.
Executive Director Shailesh Vikram Singh, Seedfund who invested in V Resorts in its initial phase said, “This is indeed exciting times for the travel leisure segment. Our strategy will be to build travel choices even to the most inaccessible places and create profitable businesses with the involvement of the local community.”