Stanza Living ties up with colleges, corporates to manage their 10,000 hostel beds

Co-living operator Stanza Living on Thursday said it has tied up with a number of educational institutes and corporates to manage their nearly 10,000 hostel beds as part of its strategy to expand business.

Gurugram-based Stanza Living, which provides rented accommodations to students and working professionals, currently operates more than 75,000 beds across 23 states.

To expand its business, the company has launched an integrated facility management business vertical for college campuses and corporates across India.

Starting with close to 10,000 hostel beds, the company said it has partnered with engineering and management institutes like JECRC University, Presidency University and GM Institute of Technology.

Stanza Living will help these colleges to offer a high-quality, hygienic and tech-facilitated campus experience to students, a company statement said.

Educational institutes have historically struggled with hostel management issues like fragmented service offerings from multiple vendor partners, lack of quality control and overall inefficiency of operations, it pointed out.

Stanza Living aims to address these problems through its technology-powered plug and play service ecosystem.

Under the facility management vertical, students and working professionals can avail services like F&B, laundry, housekeeping, mobility, security, community engagement and recreational activities.

Anindya Dutta, MD and co-founder, Stanza Living, said, ''As consumers increasingly prioritise safety, hygiene and convenience, quality of living facilities has become a strong consideration factor in selecting an academic institution or even a place of work outside their hometown.'' ''Seeing the growing inbound interest from partners across the country, we plan to invest close to Rs 15 crore to build out this high-potential segment,'' he added.

Based on the degree of customisation and operating location, the company will be charging service fees in the range of Rs 3,500 to Rs 5,500 per consumer for the new offering.

Stanza Living is backed by global investors like Alpha Wave Incubation, Equity International, Falcon Edge Capital, Sequoia India, Matrix, Accel Partners and Alteria Capital. PTI MJH HVA

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