The platform goStops will put the raised funding in expanding its presence across the country by doubling its bed capacity in the next one year. It will also utilise the financials to boost its product offerings through investments in technology and training, add new revenue streams, strengthen its marketing, and build a team to handle the next phase of growth.
Pallavi Agarwal, Co-founder and CEO, goStops, said, “Currently, short-stay options (hotels, guest houses etc) available within the budget of the youths are of poor, unpredictable quality, and not youth-friendly. We aim to solve this problem by offering traveller hostels which are of high-quality, affordable, social, and experiential.”
While, presently, goStops claims to be serviceable in 13 cities with about 800 beds capacity.
The working of the platform involves the leasing, managing, and franchising real estate assets to design, transform, market, sell, and operate youth hostels under its brand in locations where the youth travels for business or leisure.
“Growing number of youth prefer community living (fostering growth of co-living and co-working) and they are willing to share rooms and facilities for greater quality accommodation. Thus, goStops plans to cater to the rapidly growing aspirational demands of the youth in this category,” the founder added.
Interestingly, the hostels of goStops are equipped with facilities such as a mini theatre, foosball, pool table, aesthetically designed work and lounge space, etc., in the common areas and many activities to socialise and explore a destination with other fellow travellers.