Olive by Embassy is the co-living and hospitality wing of the Embassy Group. It is a multi-brand hospitality tech operating platform with multiple revenue avenues, including management, design, and technology.
Intending to organise and institutionalise the accommodation market in India and beyond, the company is currently present in 55 locations across Bengaluru, Mumbai and Goa, and is aiming to add another 5,000+ keys, including entry into new markets like Hyderabad, Delhi, Pune, and Chennai.
In an exclusive chat with Everything Experiential, Kahraman Yigit, Co-founder and CEO, Olive by Embassy outlines the company’s offerings, growth strategy, plans for tapping new markets, reaching out to its cohort through various media and more.
Edited excerpts:
Please give us an overview of Olive by Embassy’s journey since its introduction in 2019. Why did you launch Olive?
Olive is a multi-brand hospitality management company. We began our journey within India’s co-living market in 2019, with a focus on offering tailored living solutions to match the evolving preferences of India’s millennials, Gen Z, and urban newcomers.
In March 2021, we seized the opportunity to revitalise underperforming hotels, transforming them into hybrid accommodations. The inauguration of our first short-stay property in Bengaluru’s central business district marked a major milestone in our expansion strategy.
The last few years have been marked by robust portfolio expansion, where we have effectively doubled it by identifying and capitalising on market opportunities.
What are Olive’s business model, offerings, footprint, and main target audiences?
Olive now offers 55 signed and operational hotels and co-living spaces in Bengaluru, Mumbai and Goa, comprising 2,688 keys.
From co-living and budget accommodations to opulent resorts, hotels, and villas, the company offers sub-brands including Olive Life, specially tailored for extended stays that imbibe community living; Olive Zip, which caters to budget-conscious travellers; Olive Hotels, which delivers premium accommodations; and Select Olive, our luxury and villa offerings. Every Olive property offers the comforts of home combined with the freedom of a hotel and is available for both short-term and long-term stays.
Why did you take a hybrid approach last year?
As we grew, we understood that travellers, regardless of their identity, resonated most with personalised experiences. We strive to provide offerings that fit every mood, desire, and budget.
As a hybrid product, we aim to bridge the gap between short-term and long-stay accommodations while preserving the flexibility and simplicity akin to booking any hotel room.
How does Olive’s growth strategy contribute to its current presence, and what are the key milestones regarding the number of keys and accommodation options?
In the last financial year, Olive clocked a 76 per cent increase in revenue on the back of growing demand for both short-term and long-term accommodation facilities.
Currently, we have 25 operational properties and 1,402 keys under the Olive Hotels brand, which caters to affluent travellers with a wide range of rooms and amenities. Under the brand Olive Life, which targets students and young professionals in cities with stays of three months or more, the company has nine properties with 431 keys. The company has 20 properties and 839 keys under the brand Olive Zip, which provides budget-friendly daily stays for budget-conscious travellers in similar locations. Under the brand Villa by Olive, which offers luxurious experiences in leisure destinations, the company has 1 property and 16 keys.
Olive is described as a hospitality tech operating platform. Could you elaborate on the role of technology in enhancing the guest experience, and what technological features or innovations have been well-received by Olive’s guests?
At Olive, we lead the way in integrating advanced technology into hospitality services. We are among the pioneers globally to develop a proprietary remote operational system in collaboration with Staqu, Zoom, and Hotelogix. This system incorporates advanced hotel management technologies, AI, and IoT applications in property management and facilitates seamless guest interactions through digital platforms. Our innovations aim to streamline operations and enhance the living experience. Our remote management technology provides real-time insights, boosting operational efficiency and enabling highly personalised guest experiences.
Olive is a tech-driven, brand-agnostic hospitality management platform. By anticipating guest needs and preferences, we deliver exceptional service with precision. Through the use of facial recognition and AI capabilities, we have significantly improved operational productivity, shifting many tasks from mid-level management to our advanced camera systems. This has reduced our staff-to-room ratio to 0.3, compared to the industry average of 0.7, resulting in unmatched situational awareness and substantial ROI for property owners.
Please elaborate on Olive’s plans for growth and any untapped opportunities or potential areas for innovation that Olive is exploring.
We are concentrating on various growth strategies and exploring untapped markets in the near future. We want to grow all four of our brands into new markets.
One key area is the organisation of the unorganised hotel sector. We believe there is a great deal of room for improvement and transformation in this area, particularly in cities with heavy air traffic and popular vacation destinations like Goa, Himachal Pradesh, Kerala, and Rajasthan.
These locations meet our concept of offering a range of high-quality living experiences, which makes them strong business opportunities.
How does Olive market itself to its various TGs? What media mixes do you use? Any memorable campaigns?
We have employed a comprehensive and multifaceted marketing strategy, ensuring significant connections with our diverse customer base. Our advertising strategies are made to appeal to specific target audiences by highlighting the unique qualities of each of our products—from Olive Life's focus on the community to Villa by Olive's opulence. We use a combination of traditional and digital media in our approach.
To interact with our tech-savvy audience, we leverage social media, YouTube, Google Adwords, and online travel agencies. Email marketing is another tool we employ for focused messaging.
Digital billboards, which are offline and placed in key locations, are an important part of our marketing mix.
Our primary objective is to create engaging and powerful content that reflects the creative and dynamic nature of our brand. To leave a lasting impression, we think it's essential to engage our audience genuinely across a variety of platforms.
How does Olive plan to enter new markets, and what factors contribute to the selection of these locations?
At Olive, our market entry strategy is driven by in-depth market research and analysis. We focus on understanding market demand by analysing retail data to identify the specific needs and preferences of potential customers. We also assess economic indicators such as local employment rates, economic growth, and urban migration trends to gauge market viability. Real estate dynamics, including the availability and cost of suitable properties, are crucial in our decision-making process. Additionally, we evaluate the competitive landscape to understand the presence and performance of competitors and consider local regulations and compliance requirements to ensure smooth operations.
Our expansion process often involves collaborating with local partners to leverage their market knowledge and insights. We place a high value on reputation, relying on references from existing landlords to ensure a reputation-based approach to growth. This thorough and strategic approach helps us make informed decisions about where to establish new locations, ensuring successful market entries and sustainable growth.
What are Olive’s vision and mission, and how does the company work towards achieving them? In what ways does Olive align with its mission, and how does it aspire to become the next-gen living community in India?
Olive’s vision is to revolutionise the hospitality industry through innovation, technology and service excellence. Our mission is to provide exceptional living experiences by blending hospitality with cutting-edge technology to meet the varied needs of our guests. We achieve these goals through continuous innovation, regularly updating our offerings with the latest technologies. Our guest-centric approach focuses on creating memorable and personalised experiences. We strategically expand our footprint in key markets to increase accessibility and implement sustainability initiatives to promote eco-friendly living. Olive aspires to be the next-gen living community in India, continuously evolving to meet changing needs and setting new standards in the hospitality industry.
 (1)_20241119135037_original_image_33.webp)
_20241112135249_original_image_18.webp)
_20241108133740_original_image_10.webp)
_20241101163253_original_image_33.webp)