The Hive Hostels, a premium student accommodation provider looks to add 3,000 beds by the end of FY2025 with an investment of ₹10 crore.
Currently, the company is present in over 10 cities across India, The Hive Hostels operates 20 properties with more than 5,000 beds.
The company has also onboarded Crib, a property management software platform to fully digitalise its business operations, financial systems, and management processes. This collaboration will enhance the hostel’s operational efficiency as it moves for an IPO, according to a company release.
“Crib’s innovative technology aligns perfectly with our vision for excellence. The launch of Aurus - Luxury Student Residences, supported by Crib’s platform, positions us to set new benchmarks in luxury student living and operational efficiency”, said Rohan Gupta, Chief Marketing Officer of The Hive Hostels.
Recently, the student housing provider completed its pre-IPO funding round, raising Rs 11.5 crore. The company plans to go public in the second half of next year.