Online vacation rental platform HeyHolidays has raised $1 million in funding from Hampton Capital. The company stated that the funds will be used for expanding global footprint with an increase in demand shown by its Indian outbound travellers.
HeyHolidays will focus on increasing its Indian base to cater to growing demand of international travellers visiting India by adding unique listings in holiday destinations, religious locations and heritage places.
The company was launched in India in late 2016 by Kenny Blatt, Stan Dong and Nitesh Shetty. It uses the idea of sharing economy to offer short-term accommodations from urban cities to resort destinations to its customers.
The Bengaluru based startup has over 200,000 listings across India, Southeast Asia, Europe including Greece, France, Germany, Austria, United Kingdom, Spain, Italy, Denmark and Sweden, Cuba and the United States. Its Virtual Front Desk TM handles individual and group requests to help select and negotiate accommodations with its hosts as well as plan that special trip, holiday or honeymoon.
“India was our first choice for the market’s sheer potential. For the past year, we listened to what our guests were asking for and helped better curate our hosts’ offerings. We are currently operational in the major cities of India (over 100 destinations) and across 100+ countries,” said Kenny.
In January 2018, HeyBnb renamed itself to HeyHolidays to “expand its scope of business and better serve its guests as well as hosts”.
A recent report by BCG stated that the Indian passenger travel market is projected to grow at 11-11.5 per cent to $48 Billion by 2020 with the biggest contributor, air travel, expected to grow at 15 per cent to $30 billion.