Amit Damani, a former school teacher, co-founded Stay Vista. The company has crossed revenue of Rs 110 crore…
Amit Damani, founded a thriving business in Mumbai with Ankita Sheth and Pranav Maheshwari. Established in 2015 , from a single family villa, Stay Vista today has 500+ luxury villas in 50+ places across India and is growing rapidly.
The original Vista Rooms partnered with smaller hotels and homes for rentals. Amit rebranded Vista Rooms as Stay Vista in 2017 to emphasize luxury villas.
His family villa at Lonavala, 83 miles from Mumbai, inspired this idea.
“My grandma married and moved to Mumbai from Varanasi. Before getting married, she lived in spacious homes with open lawns, says Amit, 35, about Stay Vista.
“Mumbai rarely sees it. My grandfather built her a villa in Lonavala’s steep countryside. I visited this place often with them. Everyone grew up, got busy with job, and rarely visited this place twice a year.”
When he thought about renting villas, Amit told his grandmother. I promised her the property would stay with her if she kept it and earned. He says the first Stay Vista villa joined in 2017.
As the idea grew, his family, friends, and acquaintances registered their properties with Stay Vista under a management contract, creating a thriving villa network.
Amit claims Stay Vista manages, markets, and maintains properties better than competing platforms. Our management contract with the property owners covers day-to-day operations.”
They promise homeowners of a comprehensive insurance program, relieving them of maintenance, safety, and upkeep.
From 50 properties in the first year to 100 in the second, 300 in the third, and now over 550, it has grown. Additionally, the company’s income increased from Rs 5 crore in 2018 to Rs 40 crore in 2020 and Rs 110 crore now.
Stay Vista has two types of villas: 6-8 rooms with 4-star hotel facilities and 12-15 rooms with 5-star facilities.
The smallest Stay Vista property is a one-room cottage between Ooty and Mukteshwar, while the largest is a 13-room house in Alibagh, near Mumbai.
Some of their villas take guests to another time. Khohar Haveli, erected in 1800 on Delhi’s outskirts, and Normandi House, built by a Frenchman in 1700 in Dehradun. They have villas in tea and coffee farms.
Amit was an Associate Consultant at Dalberg Global Development Advisors from 2012 to 2014 before starting Stay Vista.
In Mumbai, he worked on socioeconomic projects with Chinese and German government ministries and the World Bank. His job required travel across Asia, providing him a worldwide view.
Amit worked with impact organizations after graduating from Northwestern University in 2010 with a degree in Economics & International Studies.
He became a Teach India fellow. Amit taught full-time in a government school from 2010 to 2012.
His instruction took him to Mumbai’s Dharavi, India’s largest slum. He says, “I was the class teacher of a class which had 35 students, and taught them all the subjects.”
Philanthropic organizations sponsor Teach India, which partners with government schools and low-cost private schools that charge roughly Rs. 500 per month.
Amit admits to certain entrepreneurial hurdles, “We took time to understand that finance management is very-very crucial. With the belief that obtaining cash back-to-back would be easier, we burned a lot of money.” Significant learning, he says.
Despite Covid’s business setback, Amit is optimistic. “After Covid, folks desired a secure getaway and spent big.
“They preferred a 3-5-hour drive with workation. Stay Vista expanded from here. High business allowed us to repay salaries, says a satisfied Amit.
Stay Vista takes 30% of bookings and gives the property owner 70%.
Stay Vista recently announced ‘Stay Vista Design Services’ for property aesthetics and comfort. “We have experts who check the property on around 300 parameters, and replace anything that needs an update or replacement, be it crockery, artwork, linen, or décor,” Amit says.
The joint vision of Amit, Ankita, and Pranay made Stay Vista successful. Pranay oversees demand, sales, and guest relations, while Ankita handles supply and relationships. Marketing strategy is Amit’s specialty, driving the company’s success.
Company funding totals Rs. 60 crore since 2015. Stay Vista has 300 employees who handle partnership transactions, interior preparation, onboarding, photo shoots, website launches, villa purchase, marketing, tech, finance, and HR.
Other 1800 employees work on-site. Additionally, 3000 task-based cooks, drivers, plumbers, electricians, and housekeepers work for the organization.
Stay Vista has celebrity clients like MS Dhoni and Farah Khan and agreements with Mahindra Holidays and Marriott Bonvoy. “To be associated with such big names gives a lot of credibility to your brand,” he adds.
Amit’s mother has spent her entire caring for their home, while his father has been trading shares for 35-40 years. Four years his senior, his brother runs a FinTech startup.
Yamini and Amit recently had their daughter Misha. Three generations of the Damani family—from his grandmother to Amit’s—live in Mumbai.
Despite his business success, Amit loves his humble beginnings. From teaching disadvantaged children through Teach India to consulting with Dalberg Global Development Advisors on socio-economic development projects, these experiences molded Amit’s outlook and entrepreneurial trajectory.
About the journey, he encourages future entrepreneurs: “Don’t let start-ups and investors charm you. Rather lonely than glamorous. Keep going and focus on business.” The teacher-turned-entrepreneur Amit has made a mark on India’s hospitality business with Stay Vista.
Conclusion
Stay Vista, created by Amit Damani in Mumbai, has made Rs 110 crore. Co-founded in 2015 with Ankita Sheth and Pranav Maheshwari, the company offers over 500 luxury villas in 50+ Indian locales. It administers, advertises, and maintains properties and provides comprehensive insurance. The company offers two villas: 6-8 rooms with 4-star hotel facilities and 12-15 rooms with 5-star facilities. Celebrities like MS Dhoni and Farah Khan use Stay Vista, which has 300 employees, 1800 on-site, and 3000 task-to-task. Aspiring entrepreneurs should endure and focus on their business, says Amit.
