SaffronStays Crosses The 1000-Keys Milestone, Driving Growth in India's Luxury Vacation Home Market
by EVENTFAQS Bureau Industry Watch | November 14, 2024 | News
SaffronStays
SaffronStays, a curated network of luxury vacation homes across India, has reached 1,250 rooms under management, marking strong growth with a 45% CAGR over four years and Rs 66 crore in revenue for FY 2024. This milestone reflects a shift toward private, unique stays, with demand for alternative accommodations outpacing hotel supply by 25–30%. With plans to expand to 5,000 rooms and Rs 500 crore in revenue over five years, the company aims to raise $5–7 million to fuel growth in key regions like Rajasthan and Goa.
SaffronStays' focus on premiumization, technology, and AI has driven profitability for six consecutive quarters. The Signature series, launched two years ago, now represents 30% of its portfolio, catering to families and groups seeking meaningful celebrations in private settings. SaffronStays capitalizes on India's expanding second-home market, where modern villas meet the rising demand for weekend escapes, milestone gatherings, and passive income for landowners.
Devendra Parulekar, Founder, SaffronStays said, “We expect to cross the Rs 100 crore annual revenue milestone in FY25, with a healthy profit margin, reaching the 400-home mark. With the deep adoption of technology, world-class processes, and industry-leading talent, the company has achieved operating leverage, where incremental growth in homes and revenues now adds to the bottom line, while costs grow at a much lower rate.”
With plans to expand to 5,000 rooms and Rs 500 crore in revenue over five years, the company aims to raise $5–7 million to fuel growth in key regions like Rajasthan and Goa.