Hotel Booking Startup-RoomsTonite has called a permanent halt to all their operations. Even after raising $1.5 Million fund, Roomstonite failed to keep up their operations. Some hotels have claimed that the startup owes them some dues.
In December 2015, Roomstonite have raised $1.5 Million of angel investment from couple of angel investors like Lashit Sanghvi, co-founder of Alchemy Capital; Nikhil Vora, founder of Sixth Sense Ventures; Venkat Vardhan, promoter of DNA Networks; Mohammed Bin Abdul Rehman Al Khalifa, Chairman of Caravan Group; and Ralph Berezan of Berezan Group of Canada.
According to reports, the startup decided to shut the operation eight months ago, when the expenditure was getting uncontrollable. The Startup had made connections with hotels in over 275 cities, which allowed last-minute hotel bookings.
Roomstonite was founded in the year 2014 by IDS Solutions Chairman Suresh John. The app was useful for those travellers whose travel plans got firmed up at the last minute. The company listed budget, premium, comfort and luxury hotels in addition to home stays and vacation homes. All the operation were made from Bangalore.They also help the hotel to sell the unsold rooms.
In January 2017, other hotel renting startup from Chennai, Stayzilla have shut their curtains due to higher maintenance and tighter business environments. Read more about Stayzilla.
Roomstonite partnered with hotel aggregators such as OYO Rooms, ZO Rooms, Treebo Hotels and Zip Rooms. They have also made deals with hotel chains such as Keys Hotel, Ginger, Park, Royal Orchid and Pride. However, the applications from both Google Play Store and Apple’s Appstore have been removed and the website has also been shutdown. Read more startup shutdown news.