Leading co-living player Housr acquires StayAbode, enters Bangalore market

Bengaluru, June 27, 2022: Managed accommodation platform, Housr on Monday announced the acquisition of Stayabode. With this acquisition, Housr will expand its presence in India’s Southern territories, along with its IPs including brand and tech stack. A press release issued by the company says that, the accession will add more than 20 properties with 1200+ beds to Housr’s inventory, in all the prime hubs of the city including Koramangla, HSR layout, Indiranagar, Marathalli, and Electronic City.

The acquisition is a part of the larger Housr plan, aimed at 12k beds by March 2023 with a combination of Housr Co-living & Housr Homes (rental managed homes). The price point will range from INR 14k- 24k for twin sharing and INR 25k-50k for single occupancy in Housr co-living.

The brand has recently ventured into a new vertical of managed rental homes under the brand name Housr Homes, designed to cater to the housing needs of working couples and small families. 

Deepak Anand, Co-Founder and CEO, Housr, said, “This acquisition is in line with Housr’s vision to grow rapidly by dint of superior and standardised resident experience across our pan India portfolio of now more than 50 properties. Our broader aim, as always, is to fill the need for luxury co-living in India with a world-class, one-of-its-kind product”.

“Acquiring StayAbode is an important stepping stone to our plans for scaling Housr massively in 2022. Housr’s entry into Bangalore significantly extends the scope of our mission, which is to seamlessly meet the housing needs of India’s new-age working professionals.”, added Kalpesh Mehta, Co-Founder, Housr. 

Team StayAbode says “The concept of co-living is still germinating in India. Handing over the baton to one of India’s leading co-living players puts us on a better collective footing to popularise managed accommodation amongst a skeptical Indian audience.”

Advertisement

Advertisements