Elivaas, an Indian startup that focuses on tech-driven luxury villa and apartment management, has recently secured $5 million in funding, with a goal of redefining luxury travel. Founded by industry veterans Ritwik Khare and Karan Miglani, Elivaas is quickly expanding in India where the luxury vacation rental market is still in its early stages. With its sister brand, Alaya Stays, catering to premium apartments, the company has seen rapid growth, currently managing over 140 properties in major leisure destinations like Goa, Delhi NCR, Himachal Pradesh, Maharashtra, and Rajasthan.
The new funding is expected to further accelerate this growth, with plans to expand across major leisure destinations in India by 2025 and eventually into international markets such as Bali, Dubai, and Bangkok. With a focus on providing private, spacious villas with amenities like private swimming pools and concierge services, Elivaas is targeting the new Indian traveler who is seeking more personalized and luxurious experiences. The company’s properties have been designed with the post-Covid consumer behavior in mind, with an increased demand for group travel, weekend getaways, and road trips.
Elivaas differentiates itself by implementing technology to enhance property management and guest experiences. With a homeowners’ app that has had over 98% adoption among property owners, the company aims to provide transparency for property owners to monitor, maintain, and monetize their properties. Elivaas also plans to launch a housekeepers’ app to maintain consistent service quality across its properties and is working on developing a traveler-facing app to improve the guest experience. In addition to technology, sustainability is a core value for Elivaas, with a commitment to reduce its environmental footprint by investing in energy-efficient properties and minimizing plastic use.
Although Elivaas is primarily focused on the Indian traveler, the company has global ambitions and plans to expand into international markets within a five-hour flight from India. Starting with Dubai, which has seen significant real estate investment from Indians in recent years, the company aims to tap into the mature market while offering tailored experiences for Indian and global travelers. With plans to enter markets like Alibaug in Maharashtra and Coorg in south India by the end of the fiscal year, Elivaas is positioning itself as a leader in the luxury travel sector.
As the Indian short-term rental industry is predicted to grow into a $3 billion market by 2033, driven by new brands, a shortage of hotels, and changing preferences, Elivaas is well-positioned to capture a significant share of this market. With a focus on providing upscale alternatives to traditional hotels, the company’s luxury properties offer a level of personalized service and exclusivity that resonates with the evolving tastes of Indian travelers. By integrating technology, sustainability practices, and a customer-centric approach, Elivaas is setting a new standard for luxury travel and redefining the possibilities within the hospitality industry in India and beyond.
