Budget-hotel chain Treebo revealed its plans of adding more properties to its existing portfolio. With over 350 properties, Treebo is one of the very few companies that are taking on the likes of OYO and FabHotels.
RupTub (that owns Treebo) Co-Founder Siddharth Gupta said, ‘franchising is our core business model. As we continue to grow, we are also looking to manage few properties. Currently, we are working on how to improve customer experience. We are planning to add 500+ properties to our existing 350+ properties in the coming 12 months’.
‘Treebo’ is entering into the mid-to-premium segments this year, competing with its, OYO rooms. This move is primarily aimed at corporate customers.
‘Unlike 2017, this year (2018) is going to be a lot different for us. We are trying to expand our geographic reach, by stepping into 50-70 cities and towns this year. We feel a lot more confident about our foundational capabilities’, concluded Siddharth Gupta.
According to Tofler, Treebo reported a loss of Rs 73.74 crores, with total revenues of Rs 20.56 crores.