Cottage Industry

Luxury vacation home rental company SaffronStays is eyeing aggressive growth, looking to replicate its model in south India and seeking $7 mn investment

- Pankti Mehta Kadakia

Picture this: a long May weekend, a breezy summer getaway and a royal home that dates back to 1865, overlooking Ooty’s verdant golf course. Cosy up at the fireplace or relax in one of the heritage home’s four suites—the Milton Abbott is a four-acre property that’s cut away from the crowded centre of the hill station, and available to book on SaffronStays, a three-year-old portal that curates luxury vacation home stays.

Founded by husband-wife duo Tejas and Devendra Parulekar in 2015, SaffronStays is a micro-hospitality brand. It works to form a network of luxury vacation home owners who are looking to rent out their second homes when not in use, and monetising what would have been dead assets. While this model sounds similar to Airbnb’s, what sets SaffronStays apart is the management. The team will undertake all of the hospitality operations for the property—maintenance, branding, marketing and reservations.

Of these, maintenance is perhaps the biggest challenge for homeowners, and the biggest expense. “SaffronStays takes the onus to make sure the home is always in mint condition and that every light is working,” says Devendra Parulekar. “Homeowners rely on us to curate an overall experience in their home for the discerning traveller, including food and entertainment. We work almost exclusively with HNIs , so they usually prefer to have their own staff—however, we train them and check their level of preparedness periodically.”

A percentage of the rental income is shared with the homeowner.