Treebo Hotels
{{Short description|Indian Hotel Chain}}
{{Advert|date=March 2021}}
{{Use dmy dates|date=November 2018}}
{{Use Indian English|date=November 2018}}
{{Infobox organization
| logo = Treebo-Logo-2 (1) (1).png
| logo_size =
| headquarters = Bengaluru
| services = Hotels
| name = Treebo Hotels
| founder = {{hlist|Sidharth Gupta|Rahul Chaudhary|Kadam Jeet Jain}}
| founding_location = India
| staff = 500+ employees
| website = {{url|https://www.treebo.com}}
}}
Treebo Hotels is an Indian hotel chain that operates on a franchising model.{{cite web|title = 800+ Properties, 80+ Cities, 3 Years: Why Treebo Credits Its Success To 'DNA Of Guest Service'|url = https://inc42.com/startups/treebo-growth-story/|accessdate = 2016-11-10}}{{Cite web|title = These online budget hotel startups swear by the full inventory model'|url = http://economictimes.indiatimes.com/small-biz/startups/these-online-budget-hotel-startups-swear-by-the-full-inventory-model/articleshow/54499679.cms|accessdate = 2016-09-25}} As of October 2023, Treebo Hotel owns over 1000 hotels in 120 cities throughout India.{{Cite web|title = Expect gross booking value to rise five-fold in two years, says Treebo Hotels’ Gupta|url = http://techcircle.vccircle.com/2017/02/14/expect-gross-booking-value-to-rise-five-fold-in-two-years-says-treebo-hotels-gupta/|accessdate = 2017-02-14}}{{Cite web|title = Most people running hotels are not career hoteliers or professionals, but businessmen, says Sidharth Gupta, co-founder of Treebo Hotels'|url = http://mybigplunge.com/story-tellers/in-conversation/most-people-running-hotels-are-not-career-hoteliers-or-professionals-but-businessmen-says-sidharth-gupta-co-founder-of-treebo-hotels/|accessdate = 2016-09-12}}{{Cite web|title = Treebo Hotels eyes 1,500 properties in 150 cities by 2018|url = http://www.business-standard.com/article/pti-stories/treebo-hotels-eyes-1-500-properties-in-150-cities-by-2018-116112700187_1.html|accessdate = 2016-09-12}}
History
Treebo Hotels was founded in June 2015 as Zipotel by the IIT Roorkee graduates Sidharth Gupta, Rahul Chaudhary and Kadam Jeet Jain.{{Cite web|title = India’s Treebo Hotels raises $17 million for its budget hotel network'|url = https://techcrunch.com/2016/07/22/indias-treebo-hotels-raises-17-million-for-its-budget-hotel-network/|accessdate = 2016-07-22}}{{Cite web|title = Saif & Matrix Invests $6 Mn In Ex-Myntra Executive Tech Enabled Hotel Chain Startup Treebo'|url = https://inc42.com/flash-feed/treebo-funding/|accessdate = 2015-06-23}} Treebo Hotels won the award for the "Best Budget Hotel" category in the Lonely Planet Travel and Lifestyle Leadership Awards 2017.{{Cite web|url=https://www.internationalnewsandviews.com/treebo-wins-the-best-budget-hotel-award-at-lonely-planet-travel-and-lifestyle-leadership-awards/|title=TREEBO wins the ‘best budget hotel’ award at lonely planet travel and lifestyle leadership awards|website=www.internationalnewsandviews.com|language=en|access-date=2020-01-13}}
In July 2016, Treebo raised a $17 million round of investment.{{Cite web|title = Treebo Hotels raises Rs 112 crore in new funding round|url = http://economictimes.indiatimes.com/small-biz/money/treebo-hotels-raises-rs-112-crore-in-new-funding-round/articleshow/53328368.cms|accessdate = 2016-07-22}} In August 2017, Treebo raised an additional investment round of $34 million.{{cite web|url=https://inc42.com/buzz/treebo-hotels-funding-budget-hotel/|title=Budget Hotel Chain Treebo Hotels Raises $34 Mn In Series C Funding|website=Inc42.com|date=30 August 2017|author=Meha Agarwal|accessdate=20 December 2019}} As of now, Treebo has raised $57 million and is backed by SAIF Partners and Matrix India Partners as investors. In May 2018, Treebo made its first acquisition of the online events discovery platform Events High.{{cite web|url=https://inc42.com/buzz/treebo-hotels-made-its-acquisition-debut-with-events-high/|title=Treebo Hotels Makes Its Acquisition Debut With Events High|website=Inc42.com|date=31 May 2018|author=Meha Agarwal|accessdate=20 December 2019}} In November 2018, Treebo launched three sub-brands (Trip, Trend, Tryst) as part of its new branding strategy.{{cite web|url=https://www.thehindubusinessline.com/companies/treebo-hotels-hospitality-brands-sidharth-gupta/article25557839.ece#|title=Treebo launches 3 sub-brands for hotel portfolio, replaces company’s logo|date=21 November 2018|website=Thehindubusinessline.com|accessdate=20 December 2019}} Treebo Trip Hotels offer basic comforts, Treebo Trend Hotels are the major chunk of properties, and Treebo Tryst Hotels are the premium Treebo properties.{{Cite web |title=The Story Behind Our New Branding - Treebo Blog |url=https://www.treebo.com/blog/the-story-behind-our-new-branding/ |access-date=2020-01-13 |website=Treebo Hotels}}
In 2018, online travel agency MakeMyTrip dropped Treebo from their listings which led to a major hit on their revenues. They had to lay off 70-80 employees.{{Cite web|url=https://tech.economictimes.indiatimes.com/news/internet/treebo-lays-off-70-80-employees/65097721|title=Treebo lays off 70-80 employees - ETtech|last=www.ETtech.com|website=ETtech.com|language=en|access-date=2018-09-01}} Treebo Hotel's losses jumped to ₹115 Crore ($13.8 million USD) in 2018.{{Cite web |last=www.entrackr.com |title=Treebo performance in FY18: Losses jumped to Rs 115 Cr while revenue stood at Rs 47 Cr |url=https://entrackr.com/2018/10/treebo-hotels-losses-revenue-fy18/ |access-date=2018-10-29 |website=Entrackr |language=en}} But from August 2018, the company has managed to slash its cash burn by over 80 per cent and according to its Registrar of Companies (RoC) filings, Treebo aims to double its revenue growth and attain profitability by 2021. For this, Treebo added another source of income, Hotel Management CMS SuperHero, a SaaS platform to cater to hotels that are not Treebo branded, remove minimum guarantee for hotel owners, and as part of minimizing the cash burn. In July 2019, 100-120 employees were laid off following a failed fourth round of investment.{{cite web|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/treebo-fires-120-employees-blames-failed-funding/articleshow/70185218.cms|title=Treebo fires 120 employees, blames failed funding|website=Indiatimes.com|date=12 June 2019|author=Aditi Shrivastava|accessdate=20 December 2019}} The Hotel Superhero model that launched in August 2019 has over 300 properties across the country.
In October 2020, Treebo Hotels raised $6 million in its Series C funding round from its existing investors as bridge financing to continue its survival.{{cite news |last1=Gooptu |first1=Biswarup |title=Treebo Hotels raises $6 million in funding led by existing investors |url=https://tech.economictimes.indiatimes.com/news/startups/treebo-hotels-raises-6-million-in-funding-led-by-existing-investors/78551379 |publisher=The Economic Times |date=October 8, 2020}}
Treebo Hotels is headquartered in Bengaluru, India.{{Cite web |title=Treebo Hotels: Improving customer experience by using technology |url=http://www.moneycontrol.com/video/features/treebo-hotels-improving-customer-experience-by-using-technology_8095701.html |accessdate=2016-07-22}} It is aiming to be a budget hotel brand as opposed to competing aggregators and networks like OYO Rooms.{{Cite web|title = We are not an aggregator, we are a budget hotel brand: Sidharth Gupta'|url = http://www.dnaindia.com/money/interview-we-are-not-an-aggregator-we-are-a-budget-hotel-brand-sidharth-gupta-2125547|accessdate = 2015-09-16}}