Fractional ownership platform HotelYaari raises Rs 18 crore from Alios Ventures, ET RealEstate

September 15, 2023

HotelYaari, a fractional ownership platform for holiday homes and hotel suites, has raised $2.17 million (Rs 18 crore) in seed funding from Alios Ventures. The complete investment will be disbursed in three equal tranches in the next three quarters.

“The investment will be used to further develop the platform and hire more personnel to cater to the demand for fractional ownership of holiday homes and hotel suites,” said Janardan Tiwari, founder and CEO of the platform.

HotelYaari is a tech-driven marketplace for hotel rooms and holiday homes, offering individuals an opportunity to own a suite within a 4 or 5-star hotel and resort by investing as little as Rs 5 lakh.

Tiwari, who also founded Bengaluru-based edtech company DataTrained, started HotelYaari in May 2023. The platform allows individuals to invest in their own holiday homes and hotel suites, a concept similar to startups such as Pacasso in the United States and Kocomo in Mexico, which both allow customers to own shares of property without having to actually purchase it outright. The startup allows them access at a fraction of the cost, making it an attractive option for those who don’t have the resources or ability to purchase an entire holiday home or hotel suite.

Sebi has proposed to regulate all online platforms that offer fractional ownership of real estate assets.

The market size of second homes and retirement villas was $1.394 billion in 2021 and is set to cross $4 billion by 2026. The industry is growing at a CAGR of 23.6% and is set to further accelerate in the future post-Covid-19.

  • Published On Sep 15, 2023 at 09:20 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link

Abhay Singh

Web Developer

Leave a Comment