Vietnam’s luxstay raises $6 million on “shark tank” to battle airbnb

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One of the most business reality television programs in the world is Shark Tank, the TV program that see’s budding entrepreneurs present their ideas to lớn the “Sharks” in the tank -- five titans of industry who made their own dreams a reality và turned their ideas into lucrative empires. The contestants try to lớn convince any one of the sharks to invest money in their idea. When more than one of the sharks decides that they want a piece of the action, a bidding war can erupt, driving up the price of the investment.

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In one of the most recent episodes of Shark Tank Vietphái mạnh, Steven Nguyen, the CEO of Luxstay, which provides temporary homestays & experiences to lớn travelers, convinced three of the ‘sharks” to lớn invest $2 million USD, each, in his company, raising a total of $6 million USD. In his presentation, Nguyen said that the company had two quality advantages: Vietnam’s booming real estate market which provides opportunities lớn involve sầu new owners in the temporary housing business and Luxstay’s first mover advantage, being the first company of its kind in Vietphái nam.

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Some of Shark Tank Vietnam’s judges in a quảng bá photo from the show
Nguyen also said that, “We have sầu witnessed a huge market dem& for short-term stays.

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Luxstay has not only met the accommodation needs of pleasure và business visitors, but also created a new dem& for corporate accommodation và events, which is a nibít market that no other players have exploited here. The segment could reach a minimum scale of 10-20% of the total accommodation market spending, worth of some $15 billion in 2025.”According lớn Luxstay, the company is building a network of partners và is providing solutions lớn help them manage their rental properties in a sufficient and effective manner. The company has focused on Vietnam’s main cities but is now adding properties across the country inlớn its network. According to market research company AirDNA, there are 50,000 active homestay listings in Vietphái mạnh, in the size of entire homes, private rooms (also called homestays), or shared rooms. Both global vacation rental companies lượt thích Airbnb & local businesses like Luxstay are growing fast lớn meet the demand for home sharing in Vietphái mạnh, becoming an integral part of the tourism industry and allowing travelers khổng lồ visit all regions of the country.

 


Chuyên mục: Tin Tức

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