Holiday home operator Elivaas plans new funding round; targets 1,200 villas

Holiday home operator Elivaas is evaluating its next round of fundraising for its further expansion plans as demand for managed Villa has surged.

The firm operates 670 villas currently and plans to take the number to 1,200 by the end of this year.

“India's growing appetite for second homes is increasingly creating opportunities beyond traditional real estate appreciation. A new category of professionally managed villa operators is attempting to convert leisure homes into income-generating hospitality assets, creating what industry participants believe could become a distinct alternative real estate segment,” said Ritwik Khare, Founder & CEO of Elivaas.


The company is currently operating at an annualised revenue run rate of approximately Rs 200 crore and has raised around $18 million across three funding rounds led by Peak XV Partners, 3one4 Capital and Vertex Ventures.

Unlike traditional hotel operators that own or lease large assets, Elivaas partners with individual property owners and manages villas, holiday homes and boutique properties, offering hospitality services, distribution, technology and property oversight.

“The broader trend is being driven by both demand and supply side factors. On the demand side, travellers are increasingly opting for private villas and holiday homes, particularly for family vacations, celebrations, group travel and experiential stays. On the supply side, affluent investors are buying second homes in destinations such as Goa, Uttarakhand, Himachal Pradesh, Rajasthan and Kerala, while seeking professional operators who can generate revenue from these assets when not in personal use,” Khare said.

According to the company, villa demand has been growing significantly faster than traditional hotel demand, while the supply of leisure homes continues to expand rapidly across key destinations.

The company said that professionally managed holiday homes could emerge as a meaningful hospitality and real estate category, similar to the evolution of branded residences and serviced apartments globally.

With international expansion planned in markets such as Dubai and Sri Lanka, Elivaas is betting that Indian travellers will increasingly seek the same villa-led travel experiences both within India and overseas.

“We have case studies where occupancy has grown 50-100% after joining a managed platform because of our multi distribution strategy. Any destinations within a 3-5-hour driving distance from feeder markets or short-haul flights continue to be attractive,” Khare said.

Places like Alibaug, Lonavala, Mussourie, Kasauli, Karjat, Udaipur continue to grow and NRIs are emerging as a significant investor segment, viewing managed holiday homes as a way to maintain an India-based asset while generating income remotely.