India: Housr, which says it is India’s fastest growing managed accommodation platform, has acquired Bengaluru coliving player StayAbode.
The acquisition enables Housr to expand its presence in India’s Southern territories, along with its IPs including brand and tech stack. The deal will add more than 20 properties with 1200+ beds to Housr’s inventory, in all the prime hubs of the city including Koramangla, HSR layout, Indiranagar, Marathalli, and Electronic City.
The company has recently ventured into a new vertical of managed rental homes under the brand name Housr Homes, designed to cater to the housing needs of working couples and small families. Through Coliving and Homes, Housr is aiming to scale to 100+ properties and 12,000+ beds across India, by expanding its property portfolio in existing cities and moving into new ones by March 2023.
Deepak Anand, co-founder and CEO of Housr, said: “This acquisition is in line with Housr’s vision to grow rapidly by dint of superior and standardised resident experience across our pan India portfolio of now more than 50 properties. Our broader aim, as always, is to fill the need for luxury co-living in India with a world-class, one-of-its-kind product.”
“Acquiring StayAbode is an important stepping stone to our plans for scaling Housr massively in 2022. Housr’s entry into Bangalore significantly extends the scope of our mission, which is to seamlessly meet the housing needs of India’s new-age working professionals,” added co-founder Kalpesh Mehta.
A StayAbode statement said: “The concept of coliving is still germinating in India. Handing over the baton to one of India’s leading coliving players puts us on a better collective footing to popularise managed accommodation amongst a skeptical Indian audience.”
