Staybazar, an online market place for various alternate stay options, announced the expansion to tier 2 and 3 cities and towns across India providing a unique experience for both business, casual & lifestyle travelers by adding new locations at Ujjain, Vadodara, Bhopal, Indore and Rajkot. The company is targeting at 3000 total property listing by end of 2015.
Staybazar differentiates from other online travel marketplaces by going beyond traditional hotels and offering much wider options of stay for the demanding travelers including home stays, service apartments, guest houses, theme stays and resorts etc. “There is an increasing demand from corporates beyond traditional business hotels when they travel. We are in the process of revolutionizing the way India stays while they travel,” said Mr Prem Kumar, CEO at Staybazar.
Staybazar is already offering 1421 properties across India. “Presently beyond the large cities alternate stay market is a largely untapped and unorganized sector. Many potential travelers hesitate to travel to the smaller towns in the country and wish for an organized player who can offer secure, cost-effective and amiable stay. Our strength is our unique and detailed process through our virtual offices across the country to pick and choose the best stays for our customers,” Prem Kumar added.
The travel and tourism industry is one of the fastest growing industries in Indian. The domestic market is estimated to be $ 17 billion in 2014 according to a study by Government of India. The market share of online holiday booking in India has been increasing progressively and is growing at around 20% year-on-year. While the travel industry was growing at fast pace, the alternate accommodation properties where left behind due lack of visibility. When most alternate stay properties were operating at very low occupancy rates, shortage of hotel rooms in India were driving hotel prices high and forcing travelers to re-schedule their plans. All these factors drove StayBazar to build an online market place for various alternate stay options for individual, family and corporate customers.