Qik Stay, a Delhi-based budget hotel branding and aggregator startup is planning to add around 800 hotels and expand to 50 new cities across the country this year. The company currently has over 200 hotels with an inventory of around 3,000 rooms in 50 cities.
Founded in June 2015 by Jasveer Singh along with a group of hospitality experts, the company was earlier known as ZoZo Stay, and has now re-branded as QiK Stay. It wants to provide premium quality hotels at affordable prices, and a unique standardized experience with ease of booking.
“We are planning to add 800 hotels and expand our presence in 50 more cities by the end of 2016,” QiK Stay Founder and CEO Jasveer Singh told PTI.
Asked about the locations the company is looking at for expansion, Singh said,
“It will be mainly in smaller cities, leisure and religious destinations.”
Apart from strengthening its presence in metros and big cities, the company will focus on tier-II and tier-III cities for expansion, Singh added. The company is also looking at raising funds for its expansion plans. “We are planning to raise up to $8 million (nearly Rs 54.22 crore) in coming two to three months. It will be through Venture Capital (VC) funding,” he added but did not disclose the name of the probable investors.
As part of the growth strategy, the company is also planning to hire around 100 people, mainly in the business development segment.
Download the Qik Stay android app from here: