Treebo Hospitality FY24 revenue climbs 23%; loss widens by 15%
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The company’s expenses grew at a similar pace, increasing to Rs 144 crore from Rs 118 crore, according to financial documents sourced from Tofler.
Revenue from accommodation services, including property management and related offerings, accounted for over 95% of Treebo's total operating revenue. This segment grew 23% to Rs 104.4 crore in FY24, up from Rs 84.9 crore in FY23. The remaining income was generated from product sales and subscription fees.
THV has been actively expanding its portfolio. On December 4, ETreported that THV launched a new premium hotel brand, Medalio. This launch followed the opening of Park Inn & Suites by Radisson Thrissur, the first property under its master franchise partnership with Radisson Hotel Group.
Founded by Sidharth Gupta, Rahul Chaudhary, and Kadam Jeet Jain, Treebo raised $16 million in June 2021 in a funding round led by French hospitality major Accor. Other investors in Treebo’s cap table include Elevation Capital, Z47 (formerly Matrix Partners India), and Bertelsmann India Investments, according to Tracxn.
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