Hospitality and resort management startup V Resorts (Bliss Inns Pvt Ltd.) has raised $4 million funds from Mumbai based Seedfund and Singapore based RB Investments.
The fresh funding will be spent on company’s expansion in India as well as abroad.
V Resorts is a new age travel solutions company that provides standardised premium experiences in the leisure travel space. It operates on the business model of aggregating existing properties and managing the operations of the properties on a revenue share basis.
People in the cities are stressed and are looking for new experiences. These concepts existed before but this startup came in to make the experience more professional. That’s a code this company claims to work by. Each resort is a self-contained destination by itself.
“We are looking at doubling our inventory by the end of this year and are geared towards a three -fold growth in the company,” said Aditi Balbir, CEO, V Resorts.
V Resorts was founded in 2011 and pivoted in 2014 is a hospitality management with a focus on small resorts in off-beat locales.
V Resorts currently manages over 70 resorts across 15 states in the country. Now the startup is increasing its footprint to over 1,000 locations in India in the next two years. It also plans international expansion with a keen interest in Southeast Asian markets after this funding
The firm will also invest on its consumer and operator interfaces, Balbir said. “Our competitors are aggregators who solve the problem of discovery,” she added. “The travel space is flooded with such aggregators but no player is currently targeting the problem of on-ground experience.”
Shailesh Vikram Singh, executive director at Seedfund said, “Focus on the consumer and experiential holidays will give them leverage on pricing and the brand.”
V Resorts competes with the likes of Stay Simple, which has raised Rs 5 crore in initial funding from the family office of Shalini and Sudhir Sethi and Praveen Someshwar, Vedanta Wakeup and Mist Hotels and Resorts.