Olive's Revenue Soars: Hospitality Startup Reports 76% Growth

Olive, a hospitality startup promoted by Embassy Group, saw a 76% revenue increase to Rs 51 crore in the last fiscal year. The company offers varied accommodation options through its four brands in Bengaluru, Mumbai, and Goa. CEO Kahraman Yigit attributes the growth to expanded portfolio and price per room.

In the latest fiscal year, Olive, a hospitality management startup backed by the Embassy Group, achieved a remarkable 76% jump in revenue, reaching Rs 51 crore. This significant growth is driven by increased demand for both short-term and long-term accommodation facilities.

Olive currently operates 55 co-living centers and hotel properties across Bengaluru, Mumbai, and Goa, collectively managing 2,688 keys. The company features four distinct brands – Olive Life, Olive Zip, Olive Hotel, and Villa Olive – catering to a diverse customer base ranging from budget-conscious travelers to luxury seekers.

'For the financial year 2022-23, we achieved a portfolio revenue of Rs 29 crore. In 2023-24, this figure surged by 75.86% to Rs 51 crore,' said Olive co-founder and CEO, Kahraman Yigit. He credits the revenue boost to the expansion of their property portfolio and higher price realization per room.

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