Mumbai (Maharashtra) [India], June 23: Talking of the trend that has been taken up with cordiality by the millennials in almost all the major cities across the country, co-living is a fresh solution to the age-old issue of affordable housing. It is not just an ideal way to sustain your personal as well as professional growth outside of your workplace, it is a perfect way for like-minded people to live and work together. Hive Hostel is a world-class accommodation with high-end amenities and services to cater to all the needs of the students. The mission behind Hive is to build a community that offers to single millennials who often either move to study or work three requisites that are essential for their holistic growth i.e., interaction, safety, and flexibility. In simpler words, it’s just a place that is more than just an accommodation.
Initiated by a group of 6 friends back in 2018 with an investment of INR 200,000 with one property in Mumbai having 40 beds- to now, with an overall generated revenue of INR 4 Crores in 2021 with 15 properties onboard across Mumbai, Delhi, Noida, Greater Noida and Dehradun having approximately 1500 beds; Hive Hostels has proved to be the rapidly growing company in the span of 2 and a half years. With increasing popularity, Hive Hostels projected revenue lifts to 90 Crores in the next year i.e., 2022. They also plan to expand more in the coming years to over 20 major cities PAN India and also a few international destinations like Singapore, Dublin, etc. with the benchmark of 20,000 beds. The expected revenue counts up to 200 Crores by the year 2024.
The facilities that Hive Hostels are offering range from pre-furnished and decorated rooms to keyless and cashless campus with high-speed wi-fi. For residents to network and establish synergies, they have communal amenities such as social areas, co-working spaces, rooftop terraces, entertainment zones, and gaming corners. The idea here was to provide an atmosphere for sharing knowledge and experiences which cover a major portion of our youth. They are also providing professional cleaning services, laundry facilities, fitness zones, and fresh meals round the clock. The regular disinfection and sanitization facilities have been prioritized and in lieu of the same, measures for the complete safety of the students have been taken care of.
In the words of Bharat Agarwal, CEO and Founder, The Hive Hostels, “Hive is not just a modern form of housing where the students share a living space, it is a new take on an already existing idea, imagined and brought into reality by a millennial generation that values things like openness, social networking, and collaboration. We are glad to have achieved such a high figure in this period and will surely continue to grow and offer our best services across the world.”
Vijay Singh
