New Delhi, September 15, 2023 – HotelYaari, a pioneering fractional ownership startup focused on holiday homes, has announced a significant boost to its expansion plans with the successful raising of INR 18 Crores (approximately $2.18 million) in a seed funding round led by Alios Ventures. The funding will be disbursed in three tranches over the next three quarters, offering a substantial lifeline to the emerging platform.
Founded in May 2023 by Janardan Tiwari, HotelYaari has quickly gained attention in India’s hospitality industry. It operates as a tech-driven platform that empowers users to own holiday homes and hotel suites in renowned four or five-star properties for as little as INR 5 Lakhs, making luxury vacations more accessible to a broader audience.
Fractional ownership has been gaining traction globally, and HotelYaari’s model closely resembles concepts employed by startups like Pacasso in the United States and Kocomo in Mexico. The fundamental idea revolves around allowing customers to own a fraction of a property without purchasing the entire asset, catering to the growing demand for affordable luxury experiences.
Janardan Tiwari, the Founder and CEO of HotelYaari Ecommerce Private Limited, expressed his enthusiasm about the funding round, stating, “This is a major milestone for the company as it continues to expand its reach and establish itself as a leading player in the hospitality industry. The investment will further develop the platform and hire more personnel to cater to the demand for fractional ownership of holiday homes and hotel suites.”
HotelYaari aims to tackle the barriers that have traditionally hindered Indians from participating in fractional ownership in the real estate sector. These barriers include high prices, complex processes, and lengthy compliance requirements. By offering a simplified and accessible approach to the right, the startup is positioning itself to capture a significant share of the Indian market.
According to a report by Knight Frank, the Indian fractional ownership market is poised for impressive growth, with estimates projecting a market size of $8.9 billion by 2025, up from $5.4 billion in 2020. This growth potential further underscores the opportunity that HotelYaari is poised to capitalize on.
The successful seed funding round with Alios Ventures signifies a significant milestone for HotelYaari and the growing investor confidence in India’s emerging fractional ownership sector. As the startup expands its platform and broadens its reach, it appears set to redefine how Indians experience luxury vacations and fractional ownership in the years to come.
