FabHotels

FabHotels is a network of 3 star budget hotels in India, having its headquarters in Gurugram.[2][3][4][5] It currently operates in more than 50+ cities of India with 450+ Hotels, including major cities like Mumbai, New Delhi, Chennai, Bangalore, Kolkata, Hyderabad, Visakhapatnam and Coimbatore.[1] Its operations began in 2014.

FabHotels
IndustryHospitality
Founded2014
FounderVaibhav Aggarwal
Adarsh Manpuria
Headquarters
Gurugram
,
India
Area served
India
Key people
Vaibhav Aggarwal (Co-Founder)
Adarsh Manpuria (Co-Founder)
RevenueRs 20.9 crore ($3.2 million) (FY16)[1]
Number of employees
450+
Websitewww.fabhotels.com

History

FabHotels was founded in 2014 by Vaibhav Aggarwal, an alumnus of IIT Guwahati and Wharton School of the University of Pennsylvania and Adarsh Manpuria, also alumnus of Wharton School of the University of Pennsylvania.[5]

Funding

In 2016, FabHotels raised a funding of $8 million from Accel Partners, RB Investments, Mohandas Pai’s Aarin Capital and Qualcomm Ventures.[6][7][8]

In 2017, FabHotels received a funding of $25 million in a Series B funding from Goldman Sachs. Accel Partners also participated in this round.[9][10][2]

See also

References
  1. "The $700 million bet on Treebo and FabHotels". The Ken. 10 December 2017.
  2. Chaturvedi, Anumeha (27 July 2017). "FabHotels secures $25 million Series B funding led by Goldman Sachs Investment Partners". The Economic Times.
  3. Ranjan Bakshi, Sameer (24 May 2017). "Fabhotels FY16 loss up to Rs 13 cr". The Financial Express (India).
  4. "Online budget hotel brands bet on corporate travel". The Economic Times. 10 August 2016.
  5. "Indian Budget Hotel Chain - FabHotels - Is Expanding Rapidly". Forbes. 30 August 2016.
  6. "FabHotels gears up for expansion". The Economic Times. 13 July 2017.
  7. Mishra, Aparna (29 June 2016). "FabHotels Raises $8 Mn From Accel Partners And Others". INC24.
  8. K Tiwari, Ashish (27 July 2017). "Goldman checks into FabHotels with $25 million cash". Daily News and Analysis.
  9. Kothiyal, Kavya (26 July 2017). "FabHotels raises $25 million from Goldman Sachs, Accel Partners". Mint.
  10. "FabHotels raises $25 mn, eyes pan India expansion". The Hindu. 27 July 2017.
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