Treebo Hotels raised $16 million in series D round led by Accor. The company takes over existing hotel properties and transforms them into hostels with 70% rooms being converted into dorms and common areas along with few private rooms. Hotel superhero helps hotels in property management, point of sale, and other solutions for effective operations. “We will deploy a considerable portion of the funds raised in building and rolling our Hotel SuperHero. We were within striking distance of EBIDTA profitability when the pandemic hit, but we hope to be profitable by June 2022," said Sidharth Gupta, Co-founder of Treebo Hotels.

Source: Mint July 20, 2021 13:50 UTC