The company will use new funds for expansion, marketing, and technology investments
Treeboo Hotels founders
Treebo Hotels, an India-based online hotel booking platform, has recently raised US$16.67 million in a funding led by Bertelsmann India Investments, according to a report by Economic Times. Also participating were existing investors, Matrix Partners India and SAIF Partners.
The hotel booking platform plans to expand its network to 12,000 rooms across 450 properties within a year.
Treebo aggregates smaller hotels with 10-50 rooms that include standard amenities in rooms, such as TV, air-conditioning, complimentary breakfast and wifi. Treebo will only work with a hotel if the company is able to sell full inventory of hotel rooms.
Travellers can expect to find budget hotel rooms within the price range of US$14.89 to US$44.67, with average booking rate at US$29.78. On average, the company manages to reach 75 per cent occupancy rate with its current network of 3,000 rooms.
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“Over the last one year, they have maintained razor sharp focus on delivering a great guest experience, and have extensively deployed technology in all parts of their operations to accomplish this objective,” said Pankaj Makkar, MD of Bertelsmann, in the report.
Founded in 2015, Treebo Hotels derives its name from ‘Bo Tree’, the fig tree under which Gautama Buddha attained enlightenment. The company currently has presence in 22 cities in India.
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