With its ongoing third round of funding Hong Kong based hedge fund Ward Ferry is about to pick up a stake in online budget hotel Treebo.
Ward Ferry and its shares
Ward Ferry also holds stakes in Chinese budget hotel chain Huazhu Hotels Group and India’s largest online travel agent MakeMyTrip.
The Disclosed Info
Sources revealed that it is in advanced stage of the deal with Ward Ferry who is looking to invest $20 million into the company. Treebo is also looking for a co-investor who could participate in the round with an additional amount of $10 million.
For this, the company has been in discussions with Fosun, an investor in travel marketplaces Ixigo and MakeMyTrip.
Treebo, founded in 2015, currently has 6,000 rooms and over 250 properties across 50 major cities
It works on a full inventory model of selecting hotel properties, prescribing quality standards and providing staff training for hotel operators.