Hyderabad: Hostels and paying guest (PG) accommodation-finding tech startup Thinkwide on Thursday announced its plans to venture into three new cities this year.
The Hyderabad-based developer of PGO (Paying Guest Online) mobile and web application platform currently lists 40% of hostel and PG properties with over 20,000 users.
The company rolled out technology platform called 'PGO', which helps students, young professionals and individuals to search quality hostels and PG accommodation. It also helps owners to list their property.
Thinkwide plans to expand its operations to Bangalore, Chennai and Pune by this fiscal year, and by 2019 PGO aims to focus and establish its presence in top 10 cities of India which hold the lion's share of hostel and PG network.
By the year 2020, Thinkwide aims to introduce PGO services to 15 additional cities in India summing up to 25,000 properties on its mobile and web platform.
Hari Krishna, Founder and CEO of Thinkwide, told reporters that 99% of the hostel and PG bookings are offline and that 'PGO' is the first mobile app to offer online bookings and payments.
"Our immediate plan is to widen our network of hostels and PGs which are budget-oriented and sociable accommodation across India and start influencing the property owners to own security, safety and serenity of their guests," Hari said.
With an increasing number of students enrolling for higher education each year, the demand for student housing will witness a rapid rise and the company expects this trend will fuel its growth.
Sanjay Reddy, chairman and managing director of Sillymonks, Thinkwide's strategic investor, said PGO is a parent's app that helps them to choose the best possible stay for their children in the city they are staying, working or studying in.
