Leading Co-living player Housr acquires StayAbode, enters Bangalore market
Jun 28, 2022
Bengaluru (Karnataka) [India] June 28 (ANI/NewsVoir): In keeping with the company's aggressive expansion plans for 2022, Housr, India's fastest growing managed accommodation platform, has today announced the acquisition of StayAbode, an ace player operating in the Bengaluru Co-living market since 2016. With this acquisition, Housr will expand and fortify its presence in India's Southern territories, along with its IPs including brand and tech stack. The accession will add more than 20 properties with 1200+ beds to Housr's fast-growing inventory, in all the prime hubs of the city including Koramangala, HSR Layout, Indiranagar, Marathahalli, and Electronic City.
The acquisition is a part of the larger Housr plan, aimed at 12k beds by March 2023 with a combination of Housr Co-living and Housr Homes (rental managed homes). The price point will range from INR 14k-24k for twin sharing and INR 25k-50k for single occupancy in Housr Co-living.
The brand 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 Co-living and Homes, Housr is targeting to scale to 100+ properties and 12,000+ beds pan India, by expanding its property portfolio in the existing cities and gaining entry into new geographies by March 2023.
Speaking on the acquisition and expansion, Deepak Anand, Co-founder and CEO, 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 Kalpesh Mehta, Co-founder, Housr.
Team StayAbode says, "The concept of Co-living is still germinating in India. Handing over the baton to one of India's leading Co-living players puts us on a better collective footing to popularise managed accommodation amongst a skeptical Indian audience."
Housr properties have been home to a diverse group of entrepreneurs, innovators, change-makers and those seeking world-class lifestyles. The properties consist of exceptionally designed rooms with modern aesthetics, small, tight-knit communities of welcoming residents, and equipped community areas to unwind. Recognizing the need for luxury-centric living spaces that are conducive to the needs of today's technologically-savvy professionals, the company offers in-house amenity packages that address essential lifestyle needs, from meals to housekeeping and laundry, all under one roof.
Founded in 2018 by industry veterans Deepak Anand and Kalpesh Mehta, Housr is a leading managed accommodation platform in India. Currently, the company's operations are spread across two verticals, namely, Housr Co-living and Housr Homes. Together they make up for a vast portfolio of luxury-centric properties including fully-furnished rooms, studio spaces, as well as complete 1, 2, and 3 BHKs, all designed to meet the unique living needs of modern, tech-forward working individuals, couples, and families. Housr's business presence is currently spread across 5 Indian cities and continues to rapidly expand by the day, with a growth goal of 100+ properties and 12,000+ occupied beds by March 2023.
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