[Funding alert] Hospitality startup Vista Rooms raises Rs 10 cr led by DSG Consumer Partners
Mumbai-based hospitality brand, Vista Rooms, on Wednesday announced that it has raised Rs 10 crore in funding led by DSG Consumer Partners. Other investors including CA Holdings, Artha India Ventures and Anand Ladsariya also participated in this round.
Speaking about the raise, Ankita Sheth, Co-Founder of Vista Rooms said,
“We have seen an exciting secular shift in traveller behaviour: homestays are becoming the vacation of choice, encouraged by WFH and online school. As people become comfortable with the concept of staycations, we have seen our customers return for more bookings in new locations and homes. This sudden but lasting lifestyle change is an opportunity for Vista that is already leading to exponential growth."
The startup typically caters to family getaways, friends’ reunions and corporate off-sites. The startup today operates a network of luxury holiday homes, with ‘premium’ and ‘comfort’ being the key USPs of its chain of 400 deluxe properties spread across more than 30 cities in India and Sri Lanka.
On the avenues where the funds will be allocated, Ankita Sheth said, " We are currently at a major growth stage, and the funds will enable us to accelerate our pace. We will scale our network of properties to over 1000 within the next 18-24 months. The growth enabled by the funding will be fourfold - launching new locations, building out the team, improving technology and furthering brand awareness.”
Founded in 2015, by avid travellers Ankita Sheth, Pranav Maheshwari, and Amit Damani, Vista Rooms had previously raised over Rs 5 crore from investors Rajan Anandan, Artha India Ventures, Singapore Angel Network and Singularity Ventures.
Commenting on the investment, DSG Consumer Partners’ Managing Director, Deepak Shahdadpuri said,
"Vista is the category leader in the vacation rental segment in India, achieving this distinction with very little capital raised. The team has also shown resilience through the pandemic and has come out a lot stronger. The company has a clear focus on curating and delivering excellent guest experiences which is reflected in their direct business and repeat guests."
"The vacation rental segment addresses a clear pain point for both travellers and homeowners. This segment is poised for massive growth and Vista is well-positioned to capitalise on this with its market leadership," added Deepak.
“As a homeowner, I’ve seen the team’s commitment towards property management and I’m confident of their growth in this segment. Moreover, with the Work from Anywhere culture spreading now, I think we’ve got the timing in our favour too,”stated Rajeev Mehrotra, CA Holding Director.
Rajeev who is a homeowner and his property is being managed by Vista took the partnership further and turned investor recently.
Edited by Anju Narayanan