Sidharth Gupta, together with Kadam Jeet Jain and Rahul Chaudhary, is the founder of Treebo Hotels. The tree of them developed it in 2015 with an aim to organize the sector of budget hotels. Currently, there are 7,000 rooms available from 300 different properties. It operates head to head with huge companies such asMakeMyTrip and Oyo. Recently, the company was able to receive a funding of $34 million from Karst Peak Capital and Ward Ferry Management – both investment companies based in Hong Kong. Aside from budget hotels in India, there is also best value hotel in Sukhumvit, and these are the most in demand for tourists.
Gupta shared more regarding Treebo and how the idea came to him. He admitted that he always wanted to be an entrepreneur since he was a student. When he familiarized himself with India’s startup industry, he saw that it is essential to start a business that is based in technology. It took him 15 years before he took the risk. They arrived at the concept of budget hotel after two months of deliberation.
He admitted that at the beginning of 2015, there was not much competition in the market. A lot of players started to enter the market at the end of the same year. Gupta and his friends felt that the players before them are not able to provide solution to the problem because they do the basics only – listing and classifying.
They recognized that the available list does not filter the quality of hotels thus poor ones are highlighted. They provided a solution by choosing only professional brands to ensure that the accommodation is of quality. It took them a while before they were able to find hotels that are willing to start a partnership. Trust was eventually built after they offered minimum revenue to partner establishments. The minimum guarantee was a burden for their personal pockets at the beginning but as they learned about the business, they were able to generate more.