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Hospitality startups garner investor interest as leisure travel shows strong rec

Backpacker hostel brand GoStops, for instance, raised $1 million in pre-series A round led by IAN and Yuj, the family office of Xander Group founder Sid Yog. Treebo Hotels raised $16 million in series D round led by Accor.

Pankaj Parwanda, co-founder, GoStops said that the demand recovery curve has become stronger after the second lockdown for hospitality sector. India saw a severe second covid 19 wave in April and May leading to restrictions and curfews in several states. According to him, the world has learned how to deal with covid with a ready playbook which states that people tend to travel when the positivity rate is low and they stay home when it is high. This trend is driven by younger segment — the Gen Z and millennials — who are mobile and have no attachment in the city life. Similarly, the luxury segment is witnessing revenge travel.

“Players catering to this segment are witnessing investor interest as…

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