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BidYourStay
Bidyourstay a unique auction-based travel accommodation platform started by 2 IIM Lucknow alumni secures funding from Turninideas ventures
GURGAON, HARYANA, INDIA, November 8, 2024 /EINPresswire / -- BidYourStay Shakes Up the Hotel
industry with Transparent Real-Time Bidding, Secures
investment from TurningIdeas Ventures
The hospitality industry is about to witness a major disruption with the entry of BidYourStay, a revolutionary platform that is changing the way people
book their accommodations. With its transparent, real-time bidding model, BidYourStay is set to challenge the traditional booking process and provide travellers with a more efficient and cost-effective option.
BidYourStay allows users to bid for their desired hotel and homestay rooms in real-time, giving them the power to set their own prices and negotiate directly with property owners. This transparent approach eliminates the need for middlemen and hidden fees, providing a fair and competitive marketplace for both travellers and hosts. This innovative model has already gained traction among travellers, with a significant increase in bookings and positive reviews.
In a major boost to its growth and expansion plans, BidYourStay has secured a significant investment from TurningIdeas Ventures, a leading angel investing firm. This investment will enable BidYourStay to further enhance its platform and reach more customers globally. The partnership with TurningIdeas Ventures is a testament to the potential of BidYourStay and its disruptive business model.
BidYourStay's CEO, Hitanshu Goyal, expressed his excitement about the investment and the future of the platform. He stated,“We are thrilled to have TurningIdeas Ventures on board as our partner. Their expertise and resources will help us take BidYourStay to the next level and continue to revolutionise the travel booking industry. We are committed to providing travellers with a transparent and hassle-free experience, and this investment will enable us to do so on a larger scale.”
“With the backing of TurningIdeas Ventures, we are now poised to deliver a seamless experience that brings real value to both travellers and BnB operators.” added Harshal Gupta, co-founder of Bidyourstay
Hitanshu and Harshals' journey started as IIM Lucknow roommates, they started operating BnB's in Goa and listed them on Airbnb, they quickly realised that 7 out of 10 travellers were interested in booking a property offline to negotiate on the price, their research into the behaviour led to the inception of Bidyourstay
Survey Insight: The Market's Demand for Change
BidYourStay, has recently conducted a survey of over 500 industry professionals to gain insight into the current state of the market. The results of the survey have revealed a significant shift in the industry's demand for change.
Over half (57%) of hotel owners, especially those running smaller chains with 1-5 locations, are wary of the financial impact that real-time bidding could have on their revenue. Yet, they recognize it as a necessary step forward to stay competitive as homestay options continue to grow. The survey highlights a key point of tension in the industry: How can other accommodation providers meet rising demands for transparency while safeguarding profitability?
BidYourStay is set to make a mark in the hospitality industry with its transparent and innovative approach. With the support of TurningIdeas Ventures, the platform is poised for rapid growth and is expected to disrupt the traditional booking process. Travellers can now bid goodbye to hidden fees and inflated prices, thanks to BidYourStay's game-changing model.
Hitanshu Goyal
BidYourStay
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