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<ul><li><keyword id="7355473" type="UNKNOWN" weightage="20" keywordseo="OYO-Life">Oyo Life</keyword> currently operates 40,000 beds across 9 cities. </li><li>By 2019 end, it aims to have 100,000 beds.</li><li>OYO has also claimed that it is now the largest ‘long-term’ coliving space. </li></ul>OYO Life has set ambitious target of adding more than twice its beds by the end of the year. It means the co-living venture of OYO will expand from its current 40,000 beds to 100,000. “We expect the co-living market to continue to grow further and we are geared to provide over 100,000 beds by 2019-end,” said Rohit Kapoor, CEO of new real estate businesses at OYO. OYO now claims to be the largest ‘long-term’ coliving space. It currently has an occupancy of 85-90%. “Originally targeted at young professionals and first jobbers, we have been seeing interesting case studies of customers across various stages of life ranging from students, couples, right up to families and senior citizens across diverse income groups, choosing OYO LIFE as their preferred option,” said Kapoor. In September, it also partnered with IIT Delhi and Plaksha University to manage over 500 beds. Oyo claims to provide students with amenities such as surveillance and security, Wi-Fi and food. The prices start at ₹6,500 and goes up to ₹12,999 per bed, per month. According to a report Student Accommodation Provider Association of India (SAPFI) and CBRE, the student housing sector will attract as much as $700 million investment and add 600,000 beds by 2023.

Oyo’s co-living venture wants to expand twice over in two months

<ul><li>China's push for rental housing startups ended up pushing local rentals through the roof, according to a Wharton University report. </li><li>OYO, <keyword id="2766908" type="PERSON" weightage="20" keywordseo="Nestaway">Nestaway</keyword>, <keyword id="3844186" type="PERSON" weightage="20" keywordseo="CoHo">CoHo</keyword> and <keyword id="136437" type="COMPANY" weightage="20" keywordseo="Lemon-Tree-Hotels">Lemon Tree Hotels</keyword> are working on similar models in India. </li><li>The report recommends mortgage trusts as a solution to keep rents under check and still allow co-living to be a viable business model.</li></ul>India's largest budget hotel chain is ready to kick off it's new venture, Hamstede, where private equity major Warburg Pincus will be a majority shareholder. "The board (of Lemon Tree Hotels) has approved an initial investment of $5 million," Chairman and Managing Director Patanjali Keswani told Business Insider. The company will have a 30% stake in Hamstede. And it's not the only one. A whole host of startups like OYO, CoHo, and Nestaway are growing fast. Consulting firm PwC has pegged the market for urban residential housing at $13.5 billion. Delhi-based CoHo had estimated the <a href="https://yourstory.com/2016/05/coho/" data-type="tilCustomLink" target="_blank">co-living market in India at $10 billion</a> in 2016. The model that Hamstede is built on is derived from the successes of three Chinese companies offering co-living spaces Mofang, Nova, and Zirooms, and another startup based in Hong Kong Weave. Warburg Pincus is an investor all these companies and all these firms played a part in the rental housing boom in China in recent years. The Chinese experience with co-living has an ominous sign for Indian tenants. President Xi Jinping pushed for the rental housing boom <a href="https://www.reuters.com/article/us-china-economy-houseprices-rent-analys/how-chinas-plan-to-develop-rental-housing-backfired-idUSKCN1LU0JA" data-type="tilCustomLink">but it backfired</a>. Despite the increased supply of homes, rents in China’s major cities soared in the double-digits. While the companies' valuations spiked, accommodation became unaffordable for many students and young professionals. In some cities, rents increased by as much as 30% between 2017 and 2018, according to <a href="http://d1c25a6gwz7q5e.cloudfront.net/reports/2019-03-08-E-House-Poly-FINAL.pdf" data-type="tilCustomLink" target="_blank">a study by Wharton University</a> released in March 2019. How co-living business works "Today if you live in Mumbai, and you work in Lower Parel, you cannot afford an apartment there. Your apartment will be in Borivali and travelling two hours one way everyday. I will put up a co-living space very close to Lower Parel but the trade-off is I will give you a far more compact living area, where you spend the night. The common area will be very social, where youngsters can hang in the evening, with a living room and an open kitchen and so on," Lemon Tree Hotels' Chairman Patanjali Keswani said explaining the model to Business Insider. However, in China, the rush build capacity home-owners borrowed heavily and companies bid generously for land parcels. The excess cost was passed on to the tenants, the Wharton study showed-- an important lesson as Indian startups chase the same opportunity. Big money is chasing these new co-living ventures. Not just Warburg Pincus, Tiger Global, and Singapore sovereign wealth fund GIC are all invested in the idea in different countries. As India opens up to co-living, tenants will be looking for affordability, particularly in big cities like Mumbai where rents are already beyond many people's reach. The solution The Wharton study recommends securitisation as a possible solution to keep both the rents and the financial pressure on companies low. Companies can raise money against the rents receivable and distribute the income as as dividends to shareholders. In formal terms, this will be a real estate investment trust. Both Mofang and Zirooms have raised money using this route in China, but retail investors are not allowed to invest in these securities yet, according to the report. If the experiment helps in cooling the Chinese property market, both owned and rental, this can become a new avenue for financing high-cost co-living projects without adding burden on the tenants. An idea Indian companies can borrow too. SEE ALSO: <a href="https://www.businessinsider.in/from-pgs-to-co-living-spaces-how-student-accommodation-is-changing-in-india/articleshow/65201577.cms" data-type="tilCustomLink" target="_blank">From PGs to co-living spaces: How student accommodation is changing in India</a>

China's experience with co-living should be a warning for tenants as well as companies in India

News Corp-backed real estate classifieds portal <keyword id="1960231" type="COMPANY" weightage="20" keywordseo="Housing-com">Housing.com</keyword> on Monday announced its entry in co-living segment, and has tied up with <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> and <keyword id="2366577" type="PERSON" weightage="20" keywordseo="zolo">Zolo</keyword> as well as unorganised players for listing around 5 lakh beds on its platform. Housing.com, part of Singapore-based Elara Technologies that also owns PropTiger.com and Makaan, also released a report on co-living which highlighted that the market size of this segment is estimated to double at Rs 2 lakh crore by 2023. "We are entering into co-living segment which is a big growth area. We have launched an exclusive section for co-living on our Housing.com. As of now, it will work as search and discovery platform, but direct bookings on our platform will be enabled later," Housing.com CEO Dhruv Agarwala told reporters here. 
 Housing.com, which is also backed by Softbank, Accel and SAIF Partners, has tied up with OYO Life and Zolo to promote their co-living spaces on its platform. 
 At present, the classifieds platform has around 5 lakh beds across major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Pune, Hyderabad, Ahmedabad and Chandigarh, Agarwala said . 
 Out of the 5 lakh beds, around 50,000 beds are from OYO and Zolo. 
 "We plan to scale up this listing to a million beds by the end of 2020," he said. 
 Asked about revenue model, Agarwala said it could be through advertising and the co-living segment would become a significant revenue generator for Housing.com in coming years. 
 "The way in which the concept of co-working is changing how traditional commercial work spaces operate in India, co-living is transforming traditional renting. The change is driven by a highly mobile millennial workforce and a growing student population with a new mindset," Agarwala said. 
 Recently, US-based News Corp and its Australian group firm REA made fresh investment of around USD 70 million (Rs 500 crore) in Elara Technologies, sources had said. 
 With this fresh funding, Elara has raised USD 175 million (about Rs 1,250 crore) so far from investors.
 Elara Technologies first set up PropTiger.com in 2011 and then acquired Makaan.com in May 2015.
 In a major consolidation in the Indian online real estate business, Elara acquired Housing.com in January 2017, a start-up founded in 2012 by around a dozen IIT graduates.
 While PropTiger helps developers in selling flats available in the primary market, Makaan.com largely deals in buy-sell of re-sale properties.
 Housing.com is a classified platform for developers, brokers and homeowners with over one million listings. 
 Elara has 23 offices across India and 1,800 employees. MJH RVK

NewsCorp owned Housing.com partners with Oyo and Zolo

<ul><li>Indian hotel aggregator <keyword id="2870818" type="PERSON" weightage="20" keywordseo="FabHotels">FabHotels</keyword> is raising ₹540 million from <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>, according to the filings sourced by paper.vc. </li><li>FabHotels was launched by Adarsh Manpuria in 2014, just a year after OYO. </li><li>The hotel chain falls in budget hotel range.</li></ul>FabHotels, the Indian hospitality chain, is reportedly raising funds worth ₹540 million in a round led by Goldman Sachs, according to the filings sourced by paper.vc. The hospitality chain which mainly works on a franchisee model, has its presence in over 40 Indian cities with more than 500 <keyword id="6368036" type="UNKNOWN" weightage="20" keywordseo="hotels">hotels</keyword>. The service which falls under budget hotels, competes with the likes of Indian hospitality unicorn <keyword id="2550719" type="PERSON" weightage="20" keywordseo="OYO-Rooms">OYO Rooms</keyword>, and Treebo Hotels. "There appears to be a renewed interest in this sector and we believe that's a good thing. Oyo is over-capitalized for India and appears to be, for all practical purposes, focussed on China,” said paper.vc founder Vivek Durai. FabHotels was launched by Adarsh Manpuria in 2014, just a year after OYO had come into being. The funding comes at the right time as according to <a href="https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/fabhotels-plans-to-double-inventory-by-2019/articleshow/67063277.cms">reports</a>, FabHotels was looking to expand its reach and double its inventory to 20,000 rooms, by 2019. The hotel chain last raised a funding of $25 million in Series B round led by Goldman Sachs, and also saw participation from its existing investors Accel Partners. There were also reports that Treebo Hotels and FabHotels were holding early talks regarding a merger. See Also: <a href="https://www.businessinsider.in/oyo-acquires-amsterdam-based-leisure-group-from-axel-springer-for-415-million/articleshow/69138768.cms">OYO's $415 million acquisition of Amsterdam-based holiday home chain part of plan to become the world's largest hotel company</a> <a href="https://www.businessinsider.in/china-coliving-increased-rents-and-indian-startups-like-nestaway-coho-and-lemon-tree-hotels-hamstede-should-be-wary-of-it/articleshow/68668281.cms">China's experience with co-living should be a warning for tenants as well as companies in India</a>

FabHotels could take on OYO with a new investment

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">Oyo</keyword> wants to have 1 million <keyword id="18966" type="ORGANIZATION" weightage="20" keywordseo="Hotel">hotel</keyword> rooms in the next one-and-a-half years. </li><li>The hospitality unicorn had recently appointed <keyword id="229263" type="PERSON" weightage="20" keywordseo="Aditya-Ghosh">Aditya Ghosh</keyword>, former <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">Indigo</keyword> president, as its CEO of South Asia operations. </li><li>The company is focusing on international growth with plans to further enter into the European, Chinese, Malaysian and Indonesian markets. </li></ul>In 2013, a scrawny 20-year-old from Odisha set out to start a portal from where you could book hotel rooms online. Cut to 2019 and the 25-year-old <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> is the founder of India’s unicorn startup <keyword id="2550719" type="PERSON" weightage="20" keywordseo="OYO-Rooms">Oyo Rooms</keyword>. It also has Aditya Ghosh, the former president of Indigo Airlines, on board and together, they intend to make Oyo the biggest <keyword id="150849" type="ORGANIZATION" weightage="20" keywordseo="hotel-chain">hotel chain</keyword> in the world. Oyo Rooms is already the largest hotel chain in South Asia. “We will have one million rooms inventory into our fold in the near distant future. I think, it should happen in a year and a half,” Ghosh told the news agency PTI on January 15. Ghosh is the CEO, South Asia operations. A million rooms will be about double its existing network of 450,000. Over the years, Oyo has put up its red-and-white logo in almost every other budget hotel in the country and has gone from being just an aggregator for hotel bookings to owning properties including Oyo Townhouse (budget hotels) and Oyo Living (coliving rental spaces). While Oyo had marked its first international debut in 2018 with Dubai, it has been focusing more on China, Europe, Malaysia and Indonesia. Agarwal has brought in Ghosh to drive the fast developing South Asia operations. In fact, the company’s fast expansion into the Chinese market saw it become one of the top 10 hotel chains in China in just one year of operations. Oyo Rooms <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/oyo-manages-more-rooms-in-china-than-in-india/articleshow/66725906.cms">reportedly</a> manages more hotels in China than in India. Oyo also has its eyes in Japan, taking stock of the large number of people that’s going to visit the country for the <a href="https://www.dnaindia.com/business/report-oyo-hotels-eyes-biggest-hotel-chain-tag-to-double-global-footprint-2707996">2020 Olympics</a>. The hospitality startup had turned into a unicorn in<a href="https://inc42.com/buzz/oyo-appoints-top-level-execs-to-drive-international-growth/"> 2018</a> after it received a funding of $800 million at a valuation of $5 billion. It has found backing from top investors like Softbank Group, Sequoia Capital, Lightspeed India among others. It has the money, it has the drive, and it certainly has room to grow fast and large. See Also: <a href="https://www.businessinsider.in/oyo-rooms-is-the-most-valuable-hotel-chain-in-south-asia-after-softbank-investment/articleshow/65964564.cms">OYO Rooms is the most valuable “hotel chain” in South Asia after Softbank investment</a> <a href="https://www.businessinsider.in/this-24-year-old-dropped-out-of-college-won-funding-from-peter-thiel-then-raised-480-million-for-his-startup/articleshow/65910683.cms">This 24-year-old dropped out of college, won funding from Peter Thiel, then raised $480 million for his startup</a> <a href="https://www.businessinsider.in/this-24-year-old-dropped-out-of-college-won-funding-from-peter-thiel-then-raised-480-million-for-his-startup/articleshow/65910683.cms">This SoftBank-funded startup was founded by a 24-year-old to glam up budget hotels, and it's just launched in the UK</a>

A 6-year-old Indian startup wants to be world’s biggest hotel chain

New Delhi, Feb 27 () Shared economy in India is poised to become a USD 2 billion industry by the end of the year, a report by Maple Capital Advisors said on Thursday. Also, such services attracted about USD 3.5 billion worth of private equity, and USD 262 million in mergers and acquisitions (M&amp;A) between 2015-19, the report titled 'Shared Economy - India Story' said. The sector, predominantly driven by shared mobility, co-working, co-living and furniture rentals, is pegged to be an about USD 2 billion industry in the organised-end and growing in double digits, it said. In 2019, the segment was estimated to be about USD 1.5 billion in size in India. Shared economy includes segments like co-working (Awfis, WeWork India), co-living (Stanza Living, OYO Life, Oxford Caps), shared mobility (Uber, Ola, Shuttl) and furniture rental (Furlenco, Rentomojo.) "High mobile penetration, high millennial concentration, and an aspirational population, Asia has highest willingness to use shared assets. India mirrors Asia trends in these aspects and is thus, poised for high growth and adoption of shared services," it added. Maple Capital Advisors Managing Director Pankaj Karna said India is at the cusp of a shared economy revolution. "We are already witnessing phenomenal growth in this segment with both international companies and home-grown start-ups vying for market share. Even as the space is nascent over USD 3.7 billion has been invested in this space," he said. Karna added that this is expected to accelerate on the back of compelling demand and unit economics. SR ABM

You Searched For "oyo coliving" and got 6 results

Oyo’s co-living venture wants to expand twice over in two months

Sanchita Dash

China's experience with co-living should be a warning for tenants as well as companies in India

Sriram Iyer

NewsCorp owned Housing.com partners with Oyo and Zolo

PTI

FabHotels could take on OYO with a new investment

Sanchita Dash

A 6-year-old Indian startup wants to be world’s biggest hotel chain

Sanchita Dash

Shared economy in India to be USD 2 bn industry by 2020-end: Maple Capital

PTI

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