Published On: Mon, Oct 9th, 2017

Dormant assets can now reap profits: Vista Rooms

Founders - Amit Damani, Ankita Sheth & Pranav MaheshwariBy Accommodation Times Bureau

Mumbai, 9th October 2017: Vista Rooms, South Asia’s largest chain of branded stays, is proving fruitful to second home builders and homeowners. And how? With only 4 properties at the time of launch in August 2015, Vista Rooms spread its services to 500 properties in India in January 2016, and, further spread out to 800 properties in India and Sri Lanka in April 2016. Now, Vista Rooms has entered into alternative stay segment with over 100 villas across India and Sri Lanka. This massive growth has resulted in home real estate builders and homeowners create value out of their dormant assets along with earning 4X maintenance costs and gaining regular maintenance on their properties.

 Vista Rooms franchises its brand, offering complete turnkey solutions in areas of sales, technology, operations and regulations. Most of the times, homeowners face challenges in providing their property on rent or to caretakers, as they fear misuse of their properties. Homeowners also have to shell out additional money for customer management, maintenance of the property along with spending on sales and marketing procedures.

 Therefore, in order to make the entire process hassle-free for owners and help them earn safe returns on their properties, Vista Rooms has undertaken constant monitoring of the properties and the caretakers along with regular audits and training programs at each and every property. Vista Rooms guarantees complete KYC of the guests and minimises maintenance costs for owners. With 24×7 customer service, check-in requests and management, listing and profiling of all the properties across all major channels, Vista Rooms delivers dynamic pricing, based on competitor rates and market demand to enable owners to get more bookings.

 Commenting on the launch Ankita Sheth, Co-Founder of Vista Rooms, said, “At Vista Rooms, our aim is to tap unused properties and transform them into well-serviced homes that deliver a hotel-like experience in the comfort and privacy of a home. While travelling in big groups, families often have to undergo problems with respect to locating reliable, trustworthy and value for money accommodations that are suited for a private get together. In order to help such travellers make the most of their journeys, Vista Rooms has tied up with homeowners and real estate builders in several parts of South Asia. The alternative stays market is growing, and, is expected to cross over USD 1.2 bn. We are excited to bring hotel-level standards to this segment and boost our business.”

 So far, Vista Rooms has raised a little over $1 mn in pre-Series A funding from investors including Rajan Anandan, Singularity Holdings, Singapore Angel Network and Artha India Ventures. In India, Vista Rooms has tied up with 60 villas and apartments in Maharashtra at popular destinations such as Lonavala, Alibaug, Karjat and Mahabaleshwar. The focus is on strengthening its foothold in Maharashtra along with expanding its network in tourist spots such as Goa, Coorg, Shimla and Manali. Vista Rooms further envisions establishing a bigger and stronger network and coming up with 200 properties across all key weekend getaway spots near Tier 1 cities in the next one year.

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