Budget hospitality chain, Treebo Hotels plans to have 1,500 properties in 150 cities, constituting over 35,000-40,000 rooms by 2018. The hospitality brand, which became operational from June 2015, has 200 properties in 40 cities with over 5,200 rooms, at present. Besides deepening its footprint in the cities with existing presence the firm looks to foray into newer places like Northeast and Jammu & Kashmir. The company had raised $ 23 million from SAIF Partners, Matrix Partners India and Bertelsmann India Investments for funding the expansion. In July this year, it raised $ 17 million in a Series B funding round led by Bertelsmann India Investments (BII), along with existing investors, SAIF Partners and Matrix Partners India. The Bangalore-based hospitality brand, which operates in asset light model, emphasizes on tight quality control. The company at present is focused on expansion in the country, but going forward it plans to expand overseas into emerging economies having similar potential like Africa, Latin America, the Middle East and South East Asia. The company also plans to raise its headcount from 400 to 1,000-1,200 by 2018, in line with the expansion.
Home Urban Infrastructure News Realty News Treebo Hotels targets 1,500 properties in 150 cities by 2018