Journey of Vaibhav Aggarwal: Founder and CEO of FabHotels -Entrepreneur
Biography of Vaibhav Aggarwal:
A Curious Mind in the Making
Vaibhav Aggarwal’s journey began at the prestigious Indian Institute of
Technology, Guwahati, where he pursued his B.Tech degree between 2003 and 2007.
Known for being actively involved in campus life—especially in the cultural
festival Alcheringa—he built a strong foundation in analytical thinking
and leadership early on. It was here that his curiosity about solving
real-world problems started to take shape.
The Ivy League Dream
After his stint at IIT, Vaibhav moved to the U.S. to attend the Wharton School
at the University of Pennsylvania, one of the most respected business schools
globally. He began his MBA in 2011 and took a sabbatical in early 2012. It was
during this time that the seed of entrepreneurship was planted, and he started
seeing opportunities in India’s rapidly changing consumer landscape.
Laying the Groundwork at Bain & Company
Vaibhav’s professional journey kicked off at Bain & Company, a global
strategy consulting firm. From 2007 to 2011, he worked across India and
Southeast Asia on strategic consulting and private equity due diligence. This
role sharpened his business acumen and gave him a panoramic view of how large
businesses operate and scale.
The Groupon Experience
In 2011, Vaibhav joined Groupon as Vice President for its Indian operations. He
played a key role in launching and scaling its business in major cities like
Mumbai, Pune, and Ahmedabad. His work involved building and managing a strong
sales team and collaborating with departments like HR and Customer Service. The
experience added valuable hands-on skills in team leadership and market
expansion.
First Foray into Entrepreneurship – FabFurnish
Taking the plunge into entrepreneurship, Vaibhav co-founded FabFurnish.com in
2012. The startup, backed by Rocket Internet, was an online retailer for home
furniture and decor. Though the venture was short-lived—ending in 2014—it
helped him gain crucial insights into e-commerce and operations in India’s
digital landscape.
A New Chapter – The Birth of FabHotels
In 2014, Vaibhav, alongside fellow Wharton alum Adarsh Manpuria, founded
FabHotels. The idea came from noticing a clear gap in quality yet affordable
accommodation for business travelers in India. With an asset-light business
model and a tech-first approach, they launched FabHotels as an online hotel
booking platform based in Gurugram.
Setting the Standard in Budget Stays
FabHotels wasn’t just about aggregating rooms—it was about maintaining quality.
Each hotel joining the network had to meet FabHotels’ standards. The company
helped partner hotels by offering technology, staff training, and regular
audits to ensure customer satisfaction. This approach set them apart in a
fragmented hospitality market.
Rapid Growth Across Indian Cities
Starting from scratch in 2014, FabHotels expanded rapidly. By 2022, the company
had grown to over 900 hotels across more than 66 cities in India. From metro
cities like Delhi and Mumbai to tier-2 markets like Coimbatore and
Visakhapatnam, FabHotels became a familiar name for budget-conscious travelers.
Attracting Big Investors
The startup soon caught the attention of major investors. In 2016, FabHotels
raised $8 million from Accel Partners, RB Investments, Mohandas Pai’s Aarin
Capital, and Qualcomm Ventures. This initial funding helped scale operations,
expand reach, and solidify their backend systems.
Journey of Vaibhav Aggarwal: Founder and CEO of FabHotels -Entrepreneur# startup#age#net worth#investor#shark tank#FabHotels story#Vaibhav Aggarwal sto
More Fuel to the Fire – Series B and Beyond
The momentum continued into 2017 when FabHotels secured $25 million in Series B
funding led by Goldman Sachs, with Accel Partners joining again. These
investments helped the company invest in technology, hire top talent, and
refine customer experience, all while sticking to their asset-light approach.
Financial Snapshot – Balancing Growth and Costs
Like many high-growth startups, FabHotels has been operating at a loss while
expanding. In FY23, they reported a gross revenue of ₹412.6 crore, increasing
to ₹552.3 crore in FY24. However, total expenses also rose, and the company
reported a loss of ₹114 crore in FY24, up from ₹92.7 crore the previous year.
These figures reflect their aggressive growth strategy.
Training and Tech as a Differentiator
One of FabHotels' key innovations lies in their backend support. The company
not only trains hotel staff but also helps partners with branding, tech
adoption, and quality control. This blend of franchising and support has
allowed them to create a reliable experience across all locations—unusual in
the budget travel space.
Competing with Giants
Despite being a relatively young player, FabHotels stands tall among hotel
giants like Marriott, Radisson, and Lemon Tree. With 85 active competitors,
including six funded and 15 exited startups, FabHotels holds its ground by
staying true to its niche: affordable business travel accommodations that don’t
compromise on quality.
Riding the Hospitality Boom
According to a report by Mordor Intelligence, India’s hospitality sector is
poised to grow at a CAGR of 4.73% between 2024 and 2029. Factors like increased
tourism, a rising middle class, and demand for better travel experiences are
driving this trend. FabHotels is well-positioned to ride this wave, with its
scalable model and strong brand presence.
The Legacy of Vision and Execution
Vaibhav Aggarwal’s journey—from consulting to co-founding two startups, to
building a recognized national brand—shows the power of clear vision,
adaptability, and relentless execution. FabHotels is not just a business story;
it is a tale of reimagining everyday experiences with smart strategies, proving
that even in budget segments, excellence sells.
Timeline of Vaibhav Aggarwal’s Journey & FabHotels
- 2003–2007
Education – Completed B.Tech from Indian Institute of Technology (IIT), Guwahati. - 2007–2011
Consultant at Bain & Company – Worked across India & Southeast Asia in strategy and private equity due diligence. - 2011–2012
MBA at Wharton School, University of Pennsylvania – Began MBA studies. Took sabbatical in Jan 2012. - Mar
2011–Jul 2011
Vice President at Groupon India – Launched operations in key cities; built a strong sales team. - Jan
2012–Mar 2014
Co-founder at FabFurnish.com – Online furniture platform backed by Rocket Internet. - Jul
2014
Founded FabHotels with Adarsh Manpuria in Gurugram. Entered the budget hospitality market. - 2016
Raised $8M in funding – Backed by Accel Partners, RB Investments, Qualcomm Ventures & Aarin Capital. - 2017
Raised $25M Series B – Led by Goldman Sachs; Accel Partners also participated. - 2022
Expanded to 900+ hotels across 66 cities – Including Delhi, Mumbai, Bangalore, and Chennai. - FY23
(2022–2023)
Financials – Revenue: ₹412.6 Cr | Loss: ₹92.7 Cr. - FY24
(2023–2024)
Financials – Revenue grew to ₹552.3 Cr | Loss increased to ₹114 Cr. - 2024–2029
(Forecast)
Industry Growth Projection
– Indian hospitality sector expected to grow from $24.61B to $31.01B at 4.73%
CAGR.
