As per a report on a reputed daily, the hotel industry ranging from budget to premium hotels is stated to be worth more than $100 billion and is expected to grow at a rate of 5% in minimum every year. The growth is to be complemented by hundreds of startups and revolutionized business models which give a variety of choices with the different price range.
In a country as big as India, you would see startups being formed to target different tier based cities, and the same is in the Hotel Industry in India. Some startups form hotel based renting chains only in tier 2 and tier 3, and the majority of them do it exclusively in tier 1 cities.
Going ahead with the theme of startups in the hotel industry, Today we will be taking you through a story of a startup led three founders who made the wave in the hotel industry with the help of cumulative experience of 20+ years of working in the same industry.
The startup is named as Bag2Bag which was founded by Alok Mishra, Gaurav Garg, and Anurag Tiwari in 2017. There have been startups who are renting hotel space on a daily basis, but nearly none of them do it on an hourly basis, and then there is Bag2Bag which allows you to book a hotel room for one hour as well. So, if you have a short layover or if you are looking to spend half a day far from the city to refresh then you can always go to Bag2Bag.
The story of Bag2Bag started from the days of the college of the founders when they had to travel to different cities where the boards were set up to give exams, connect to train and the layover to go their hometown. The pains of paying hefty hotel while being on limited budget constraint made the founder’s group up and think in depth about the solution.
The original idea was a tad different but with proper research about the market and to create a model of 24×7 functional organization, they started up to solve the problem of middle-class people paying high prices for hotels in tier 1 cities.
They worked up a model which would benefit both the customers and the hotel owner as the latter will have an increase in occupancy and cash inflow thereby giving the flexibility to choose hotels on an hourly basis on layovers or for special occasions. A customer can even rent hour based space in 5 and 4-star hotels subject to availability.
They are currently having a 60% of the occupancy fulfilled and subjected to grow at the rapid pace shortly. There is a team of 10 people led by three founders whose profile will be displayed below.
Founder Profile :
Name : Alok Mishra
Qualification :MBA from UCLA and a Hons. Engineering Degree
Experience :10+ Years of Corporate Experience in Software Engeneering.
Name : Anurag Tiwari
Qualification :Btech in Electronics and communications
Experience :5+ Years at Hewlett Packard as Subject Matter Expert.
Name : Gaurav Garg
Qualification :B.Tech in Information Technology
Experience :5+ Years in Cisco as Software Engineer