Prashant Shivan, a New Delhi-based HR consultant, was excitedly looking forward to his annual college reunion in December last year. Five of his friends and their families from India and across the globe were planning to holiday together in Kodagu (earlier Coorg). There was only one glitch. One couple had recently adopted a dog and now they needed a place that could not only accommodate the large group but also their furry friend.
“Earlier, we generally just booked hotels but since this time my friends were going to travel with their dog, we decided to check out a villa as an option,” he recalls. Shivan and his friends booked the Pollibetta Bungalow in Kodagu through amã Stays & Trails, a premium homestay offering by The Indian Hotels Company Ltd (IHCL), which also owns the Taj group of hotels. The luxurious heritage bungalow surrounded by coffee plantations came with an in-house chef and housekeeping staff and at approximately Rs 45,000 a night, which was quite reasonable when the cost was split amongst the friends.
Similarly, when earlier this year New Delhi-based accessories designer Natasha Arora wanted to celebrate her 40th birthday in Goa with her girl gang, her first preference was a villa. “The space and the privacy one gets in a villa is incomparable. We can party till late and have the swimming pool all to ourselves instead of sharing it with several others in a hotel,” says Arora. She booked a three-bedroom villa in Parra from StayVista that came with its own private pool.
Welcome to #villacations, a trend that started after the Covid-19 pandemic where guests felt safer staying in independent villas rather than crowded hotels, and that trend has stayed because of its ease and comfort. Arora puts it best when she says: “Once you have gone the villa route, you don’t go back.”
Little wonder, that the Indian branded rental villa market is growing at a scorching pace. In 2023, the market was estimated at $329.6 million and is expected to grow at a CAGR of 33.2% in the years to come with the segment slated to reach $1.38 billion by 2028, according to a report by real estate firm Axon Developers.
“I think the minute there is a group of five people and above, they start thinking of a place that is conducive for spending quality time together. You want your living room to sit and chat, your private pool, your lawns, etc. So, it has moved from fear during the pandemic to the functionality of an environment that makes it easier for them to spend time together,” says Amit Damani, Co-founder of StayVista. Founded in 2015 as Vista Rooms by Damani along with Ankita Sheth and Pranav Maheshwari, StayVista currently has more than 850 villas in its portfolio across India and it aims to have over 1,000 properties in the next six months.
Damani says another trend is that while before the pandemic people travelled for only one or two nights, it has gone up to two to three nights now. “A lot of people are still working in a hybrid model, so it is easier for them to extend their weekend,” he says. Damani adds that while earlier a StayVista villa was typically occupied for five to six nights in a month, this has increased to double digits. “We now have villas that are occupied for 12-15 nights in a month,” he says.
And where is it that people are travelling? “Our most popular destinations include Goa, Lonavala, Darjeeling, Munnar, Kodagu, Alibag, Shimla, Kodaikanal, and Coonoor. Additionally, destinations near metro cities such as Bengaluru, Kolkata, and Mumbai are also highly sought after,” says Sumit Bazaz, Vice President, amã Stays & Trails, IHCL. amã Stays & Trails has 203 bungalows in its portfolio across offbeat locations in over 15 states in India.
“Our guests travel in groups that include families, friends, corporate teams, board members, retreat participants, and expatriates. Their stays are often for a variety of occasions such as staycations, celebrations, team bonding sessions, discreet discussions, or simply to unwind and relax,” says Bazaz.
Lohono Stays, which launched just before the pandemic in 2019 with 20 villas, has expanded to over 300 villas in India, and to international destinations such as Phuket and Koh Samui in Thailand, Maldives, and Sri Lanka. It is also looking to expand into Europe with potential locations in Italy, Greece, and the South of France. “We have grown at 65% CAGR over five years. The company reported sales of about Rs 700 crore in FY24, up from Rs 530 crore in FY23,” says Nibhrant Shah, Founder and CEO of Lohono Stays.
For Mumbai-based corporate lawyer Sharmila Shah, it is the space that villas provide that makes them most attractive. “In Mumbai we are so constrained for space that that is what we look forward to when on vacation. A villa rental provides me with the option of a home that I can only dream of,” she says with a smile.
Whether it is your need for space, privacy, flexible timings, customised meals (including Maggi), or a feel of a home away from home—complete with your furry friend by your side—renting a villa seems like an ideal vacation choice.
@smitabw
