What ELIVAAS does

Elivaas, founded in January 2023 by former MakeMyTrip executives Ritwik Khare (CEO) and Karan Miglani (CPO), is a Gurugram-headquartered managed-services platform for luxury vacation rentals in India. The company takes on end-to-end operations for owners of high-end villas and apartments — including maintenance, guest management, pricing, and monetization through short-term stays — across approximately 670 properties as of mid-2026, with a stated target of 1,200 properties by year-end 2026. Revenue is generated primarily through management fees and commissions on rental income generated via Elivaas's D2C booking platform, supplemented by advisory services delivered through a strategic partnership with PropTiger for second-home ownership solutions.

The underlying technology is a property-management and distribution platform combining a direct booking website for travelers with backend tooling for property operations; the company is currently developing AI-driven capabilities for dynamic pricing and operational automation, though full implementation is still in progress per the founder. Elivaas has raised approximately $17.9 million across three rounds — a $2.5M seed led by Peak XV Partners' Surge (November 2023), a $5M Series A led by 3one4 Capital (September 2024), and a $10.4M round led by Vertex Ventures Southeast Asia & India (August 2025) — reaching an annualized revenue run rate of approximately Rs 200 crore (~$24M) by June 2026. The company's go-to-market is hybrid: direct-to-consumer for affluent Indian travelers seeking premium villa stays, paired with B2B partnerships (notably PropTiger) to source second-home investor owners, and it is planning international expansion into Dubai and Sri Lanka.

Name

ELIVAAS

Legal name

Elivaas

Website

https://elivaas.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

51–100 employees

Short description

Elivaas is a Gurugram-based managed-services platform that operates luxury vacation villas and apartments across India on behalf of property owners, handling maintenance, guest management, pricing, and monetization via its D2C booking platform and a PropTiger partnership.

Ownership category

akta.pro rank

Product category

Luxury Vacation Rental Management

NAICS

Residential Property Managers (531311), Traveler Accommodation (7211), Accommodation (721)

SIC

Real Estate Agents & Managers (For Others) (6531), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Luxury Vacation Rental Management (BPAJAIAD)

akta.pro secondary industries

Villas & Luxury Estates (THAMAAAC), Ultra-Luxury Villas & Estates (THAMAEAA), Luxury & Estate Rentals (THAGANAF)

Keywords

• Luxury vacation rentals
• Villa property management
• Vacation rental platform
• Short-term rental management
• Second home ownership

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Property Management Services: Elivaas manages luxury villas and apartments for property owners, handling end-to-end operations including maintenance, guest management, and property monetization through short-term rentals. Revenue is generated through management fees or commission from rental income generated on the platform.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

ELIVAAS is a luxury vacation rental management platform that manages premium villas and private holiday homes across sought-after destinations in India. The company provides end-to-end property operations including maintenance, guest management, and monetization for property owners, while offering affluent travelers direct booking access to curated luxury accommodations. It also partners with PropTiger to deliver integrated second home ownership solutions combining property discovery, advisory, and ongoing management.

Product overview

ELIVAAS operates as a unified luxury vacation rental management platform that combines property management, guest services, and monetization tools. The core ELIVAAS Platform provides comprehensive villa and apartment management services for vacation rentals in the luxury segment, with supplementary advisory and operational services delivered through strategic partnerships like the one with PropTiger for second home ownership solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• ELIVAAS Platform A luxury villa and private holiday home vacation rental management platform that handles end-to-end property operations including guest management, maintenance, and monetization for property owners, while enabling affluent travelers to book premium stays.
• Full-Service Property Management End-to-end property management service for luxury villa and apartment owners, including maintenance, guest management, occupancy optimization, and rental income generation through short-term vacation rentals.
• Second Home Advisory and Ownership Solution Integrated second home ownership solution delivered in partnership with PropTiger, combining property discovery, purchase advisory, and ongoing management services for second home investors in India.

Quantifiable outcome

• 6% yield potential for property owners in leisure corridors

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• PropTigercoreStrategic or Co-development Partner · 29 May 2026Elivaas partnered with PropTiger to offer end-to-end second home ownership solutions in India. PropTiger handles property discovery while Elivaas provides advisory services and manages end-to-end property operations including maintenance, guest management, and monetization. The partnership creates an integrated system covering discovery, purchase, and ongoing management of second homes, with Elivaas leveraging data from leisure and business travel markets to identify micro-markets with revenue potential.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Airbnb: Global two-sided vacation rental marketplace that hosts luxury villa listings alongside standard inventory, including a dedicated Airbnb Luxe program. Directly comparable as the dominant marketplace Elivaas competes against for high-end villa bookings in India and globally.
• OYO Rooms: Indian hospitality platform that has expanded into vacation rentals and premium stays. Comparable as a large incumbent in Indian accommodation that competes for both property owners and traveler bookings, though more weighted toward standardized budget and mid-market inventory.
• MakeMyTrip: India's largest online travel aggregator, founded by the same executives who later founded Elivaas. Comparable as the dominant Indian OTA that bundles hotels, flights, and increasingly vacation rentals, competing for the same affluent traveler demand pool.
• Booking.com: Global accommodation marketplace that lists vacation rentals alongside hotels and competes for high-end villa bookings. Comparable as a broad incumbent in traveler accommodation that captures luxury villa demand in India and target expansion markets like Dubai.

Direct peers

• StayVista: Indian luxury vacation rental platform focused on curated private villas and homes across leisure destinations in India. Closely comparable as a domestic direct competitor serving affluent Indian travelers with similar villa inventory.
• SaffronStays: Indian vacation rental platform specializing in private villas, heritage homes, and boutique stays across leisure destinations. Comparable as a domestic competitor targeting the same luxury vacation rental segment with full-service property management.
• Vrbo: Global vacation rental marketplace focused on whole-home rentals, particularly family-oriented and group bookings. Comparable as a major competitor in the same product category (whole-home vacation rentals) with strong global brand recognition.
• Vacasa: US-based full-service vacation rental management company that handles end-to-end operations for property owners. Comparable as a direct managed-services model peer — taking management fees and offering comprehensive owner services similar to Elivaas's value proposition.
• Vista Rooms: Indian home-stay and vacation rental platform offering professionally managed private homes and villas. Comparable as a domestic competitor with a similar managed-services approach to premium vacation homes in India.

Others

• Hostaway: Vacation rental property management software platform used by professional property managers. Comparable as an enabling technology provider in the same ecosystem — Elivaas either competes against or integrates with such platforms as it scales its managed services.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/StayElivaas
• Facebookfacebook.com/stay.elivaas

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ELIVAAS