According to a report on livemint, the hotel booking industry is to be valued at more than $3 billion by 2020. The report also says that as much as 80% of the total bookings done ars through giants such as MakeMyTrip, OYO, ClearTrip, and Yatra.
There is one problem that is not yet solved in hotel booking market; it’s a feature for people to book hourly/short stays in a hotel and also to book it for more than a month in a discount deal.
There was another typical Indian society problem, and that was for unmarried couples unable to find the rooms. The reports and statistics show that the majority of the people are in the 30+age group and still have the traditional mindset, it also happens to be the general mindset of the society.
The problem given an opportunity for Sumit Anand , Amardeep , and Karan Mago, they founded LuvStay in September’16 to provide rooms for unmarried couples, localities, and for short stays. The rooms were attained with top-notch features and secured arrangements.
The legendary tale of starting up for the founders was laid in an evening when they were in a comfort zone sipping their cup of tea and seeing an unmarried couple unable to find a place to stay.
The founders asked the couple about the reason to not find a hotel, and it was them being unmarried.
This was not the only case they encountered. As the time passed by, they saw couples finding tough to find a budget hotel and also people with layover between travel to find hotels for short stays.
In an exclusive interview with the founders, they stated that ‘ It aims to expand across India in Tier 1/2/3 cities and also wants to get known for the top source for budget stays in the country. It also aims to expand its services in other categories such as kiosks, cab facility, gifts, etc.’.
The report livemint is accumulated by Deutsche Bank.