The Hive Hostels plans to expand its student accommodations by adding 3,000 beds by FY 2025 with an INR 10 crore investment. To streamline operations and prepare for its upcoming IPO, the company has partnered with Crib, a leading property management software platform. Operating across 10 cities with 20 properties, The Hive recently raised INR 11.5 crore in a pre-IPO funding round. The company is also launching Aurus-Luxury Student Residences, offering 450 premium beds, with plans for 1,000 more. Crib's technology will enhance operational efficiency, supporting The Hive's growth and focus on high-end student housing.
The Hive Hostels, a leading provider of premium student accommodations, will expand its footprint by adding 3,000 beds by the end of FY 2025, investing INR 10 crore. To streamline its operations, the company has partnered with Crib, India's premier property management software platform. This collaboration aims to fully digitise The Hive Hostels' business operations, financial systems, and management processes, enhancing efficiency as the company prepares for its upcoming IPO.
Operating in over 10 cities across India, The Hive Hostels manages 20 properties, offering more than 5,000 beds. Following a successful pre-IPO funding round that raised INR 11.5 crore, the company has outlined its plans to go public in the second half of the next year. This move highlights the company's growth trajectory and rising market confidence, paving the way for further expansion. In line with its commitment to providing top-tier student accommodations, The Hive Hostels is launching Aurus-Luxury Student Residences, a new venture offering 450 premium beds.
This initiative represents a significant upgrade in student housing, combining luxury with functionality. The residences will feature well-designed living spaces, high-end amenities, and a focus on comfort and convenience for students. Looking ahead, the company plans to expand the Aurus brand with an additional 1,000 beds in the upcoming session, catering to the growing demand for upscale student accommodation. The move aligns with The Hive Hostels' broader strategy to elevate its premium offerings while maintaining its leadership position in the market.
The Hive Hostels' partnership with Crib marks a crucial step toward enhancing its operational capabilities. Crib, backed by prominent industry figures like Kunal Shah, Vijay Shekhar Sharma, and Ghazal Alagh, provides cutting-edge property management solutions to over 2,000 co-living operators and hostel owners across India. These operators manage more than 4,000 properties, housing over 200,000 beds and generating rental income exceeding INR 3,000 crore annually.
Crib's advanced technology will allow The Hive Hostels to optimise its property management, reducing operational complexities and improving efficiency. Through this partnership, Crib will enable The Hive Hostels to focus on delivering top-notch real estate and hospitality experiences to its residents while seamlessly managing the backend operations.
Shaifali Jain, Co-Founder and Chief Product Officer of Crib, highlighted the significance of the collaboration, expressing enthusiasm about supporting The Hive Hostels in reshaping the future of student housing in India. Crib's mission, she noted, is to empower operators to concentrate on providing top-tier accommodations while Crib takes care of the technical and operational demands.
Rohan Gupta, Chief Marketing Officer of The Hive Hostels, echoed this sentiment, stating that the partnership with Crib aligns perfectly with their vision of excellence. He further emphasised that Crib's innovative technology will play a key role in the successful launch and expansion of Aurus, setting new benchmarks for luxury students living in India.
The partnership between The Hive Hostels and Crib marks a pivotal step in revolutionising student accommodations, enhancing both luxury and efficiency. This collaboration positions them to meet growing demand while setting new standards in the industry.
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