A large amount of money is usually spent on accommodations when travelling so vacationers end up staying on cheap hotels with very poor room service. This is what encouraged Vaibhav Aggarwal and Adarsh Manpuria, the founders of FabHotels to put up a chain of affordable hotels that provide excellent service. It was founded in 2014 and its headquarters is in Gurugram.
FabHotels is a three-star budget hotel in India operating in more than 50 cities in India and with over 450 hotels. Some of the popular cities where you can find a chain of FabHotels are Bangalore, Mumbai, Goa, Chennai, New Delhi, Hyderabad and Pune. With the help of RB Investments, Qualcomm Ventures, Accel Partners and Mohandas Pai’s Aarin Capital, it was able to raise funds for up to $8 million. In the second series of their funding in 2017, they were able to receive $25 million from Accel Partners and Goldman Sachs.
Fabhotels operates through franchising arrangements and plans to double their inventory to 20,000 rooms by the end of 2019 and to make their presence to an additional 20 cities in India. The company is also trying out with other sub brands like Fab Escape, FabHotels Prime and Fab Express. 2019 is surely an exciting year for the company with all their experiments and expansions plans.
