HBI Staff | Hyderabad 
According to Money Control, Bengaluru-based Olive by Embassy, the hospitality and co-living arm of Embassy Group, is set to launch its franchise business model by next year, according to Co-founder and CEO Kahraman Yigit in an interview with Moneycontrol.
“We currently have a tech-backed support system and the capability to manage properties remotely, making the franchise model highly scalable. Our goal is to have around one lakh keys by 2030, with about 30% managed in-house and the rest through franchisees,” Yigit said. This expansion will enable Olive to enter Tier-II and III cities and grow its portfolio across India.
The company is also exploring international brand partnerships as part of its ambitious growth strategy. “We’re in discussions with large corporate houses for strategic tie-ups as local business partners. The idea is to bring international brands to India, similar to the Embassy Group’s partnership with WeWork. This will help us tap into different market segments,” Yigit added.
Olive by Embassy operates several verticals, including Olive Life (co-living), Olive Hotel, Olive Zipp (express hotels), and Olive Villa (premium short-stay properties).
“We are expanding into six cities: Mumbai, Delhi-NCR, Hyderabad, Chennai, and Goa. In Mumbai, we have a premium project in Dadar that will commence soon. In Hyderabad, we have a strong pipeline, though operations have yet to start,” Yigit mentioned.
Last fiscal year, the company recorded a 76% increase in revenue, reaching Rs 51 crore.
