The brand is riding the wave of travellers opting for renting private homes to minimise contact and plans expansions in other markets soon as well as targeting a doubled revenue by the end of 2023 fiscal.
Vista Rooms, a home-grown private vacation home rental brand is now all set to expand its services in Dubai by launching 10 premium properties in the heart of Dubai. The properties are located in Jumeirah, Burj, Downtown, and Marina. Dubai, popularly referred to as the ‘home away from home for Indian tourists’ is not only conveniently located but also easily accessible with respect to relaxed visa policies. Every year, over two million Indian tourists visit Dubai representing over 12 per cent of the total number of tourists visiting Dubai annually. After the first lockdown, a surge in the number of Indian tourists traveling to Dubai was recorded, and higher demand is expected this year with events such as the IPL, T-20 Cricket World Cup, and the Dubai World Expo.
“We are always trying to stay close to our consumers and understand their travel interests and patterns. One out of eight guests indicated their desire to travel to Dubai in the next 12 months. As a response to this consumer feedback, we decided to open our first international market in Dubai,” says Vista Rooms co-founder Ankita Sheth. Despite early jitters, the vacation rental market appears to have undergone an inflection point, since the pandemic with greater awareness and desire amongst travellers to stay in private homes. “We are on a course to cross Rs 100 crore annual revenue, and hoping to double it by 2023 fiscal, and moving to the International market is a natural progression of what we had aimed for a long time. Dubai gives us a feeling of ‘home away from home’ for discerning Indian travellers. Eventually, we will be moving on to countries like Singapore, Sri Lanka, Maldives, and Thailand,” she adds.
Vista Rooms, which was created in 2015 by Ankita Sheth, Pranav Maheswari and Amit Damani, manages a growing portfolio of more than 500 boutique holiday homes, backed by Google India head Rajan Anandan, Freshworks CEO Girish Mathrubootham and The Singapore Angel Network. Many investors, including seed-stage investor Artha India Ventures, Singularity Holdings, and online investment platform LetsVenture contributed to a pre-series: A funding of just over Rs five crore ($776,000) in 2017. In December 2015, Vista received roughly Rs 1.5 crore in early funding from a group of investors. Vista Rooms has raised Rs 10 crore in funding from DSG Consumer Partners, CA Holdings, Artha India Ventures, and Everest Flavours founder Anand Ladsariya for the year 2021.