Japanese venture capital “Genesia Ventures” has announced the completion of its investment in the online rental platform Luxstay (www.luxstay.net), a 6-month-old startup from Singapore and maintaining massive operation in Southeast Asia including Vietnam.
Luxstay’s platform allows customers to rent short-term villas, apartments and high-end homestays owned by local citizens along with 24/7 support service. The apartments on Luxstay are fully equipped with facilities, which allow guests to enjoy their stay as being at home – from cooking meals in the kitchen and company gathering in the living room. While staying, customers could have the feeling like their own home with indigenous cultures, which will fit for the customers who expect to have more enjoyable experience while traveling and working. Luxstay aims at the quality products equivalent to 4-5 star but the cost is up to 50% cheaper than hotels. Additionally, Luxstay’s portfolio of homes includes several “one – of – a – kind, extraordinary luxury” villas, owned by billionaires and celebrities, make many customers “hungry” for the once – in – a – lifetime experience.
In order to achieve so, Luxstay operates under “sharing economy” model, by connecting with rich homeowners and making their homes more attractive and ready for guests at any time. Luxstay is considered as “Airbnb in the premium segmentation” of Southeast Asia. However, there are significant differences comparing to homes on Airbnb such as only finest homes in greatest places with full modern equipment can be available on Luxstay. The team staff will carefully inspect each homes before being accepted to Luxstay Host system (a large portion of proposed cooperative apartments are rejected). When working with Luxstay, the professional team will ensure that your home is fully equipped for personal use and cleaned up to the high standard before guests’ arrival and after departure. Luxstay’s photographers will provide the best images without compromising the accuracy of individual homes. Luxstay’s website is like a catalog of beautiful homes that make visitors have desire to experience staying and they can instantly book and smoothly pay online.
The authentication process of Luxstay creates peace of mind for customers. After 6 months of operation, Luxstay’s product portfolio is available in eight major cities, serving hundreds of reservations each day. Luxstay especially chooses Vietnam and Thailand as the markets of starting point for their activities since they have tremendous growth in tourism but are not popular in the model of short-term rental.
Luxstay’s next three years goal is becoming the largest short-term rental platform base in Southeast Asia. Genesia Ventures quickly decides to take on the model and Luxstay’s operations team will rapidly grow and become a regional unicorn startup.