India-based co-living platform Zolostays has opened Hotel Z Triloha in Bellandur, Bengaluru, its first hotel in the country, The Economic Times (ET) reported.
With this launch, the brand has entered the luxury hotel space in India.
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The hotel’s location is home to tech parks including Embassy Tech Village, RMZ Ecoworld and Cessna Tech Park, along with major corporations such as Myntra, ADOBE and LinkedIn.
Hotel Z Triloha comprises 57 guest rooms and various amenities including a fitness centre, as well as event spaces such as conference rooms and theatre rooms.
ZoloStays co-founder and CEO Nikhil Sikri was quoted by the ET saying: “Our entry into the luxury segment with this launch in Bangalore marks a significant milestone in our expansion plans. Our expansion strategy is built on extensive market research and a deep understanding of local culture and regulations, coupled with an unwavering commitment to excellence.”
Sikri added that Zolostays intends to see a two-fold increase in its property count by the end of the year amid a spike in booking and occupancy.
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By GlobalDataIt is backed by Investcorp, Nexus Venture Partners, Trifecta Capital, IDFC Alternatives and Mirae Assets.
The start-up, which claims to be the country’s largest co-living brand, has garnered around $90m. Its next investment round is expected this year and will support its expansion goals.
