Intracom has immediately implemented due diligence to evaluate the potential of the home-sharing market after the episode on the Shark Tank show. Shark Nguyen Thanh Viet has invested 1 million dollars for 5% of the share and 1 million dollars for the privilege on the next round due to the high appreciation on Luxstay’s services including the booking process, guest welcome, and other internal services.
Intracom and Luxstay implemented due diligence after the episode
Luxstay can be considered the pioneer in the home-sharing market with the combination of traveling, real estate, and technology. The project has become an exploring tendency attracting investment deriving from the rapid development of Vietnam tourism in recent time, leading to the significant increase in staying demand of both national and international tourists.
While the traditional hotel has shown a sign of a slowdown in the accommodation supply competition, the home-sharing market has experienced the opposite trend by helping resort real estate to meet the change in staying demand and to adjust the excess of accommodation supply. Hence, tourism has been becoming a pivotal industry in Vietnam resort real estate market.
Nowadays, travelers have a tendency not to take accommodation as a place to rest but a destination to discover and enjoy. Therefore, the change in the need of seeking for a sense of connection – fancy – discovery makes Luxstay be a clever decision of the young entrepreneur – Steven Nguyen since homestay has become an optimal choice in terms of experience and cost-effectiveness for those who have a passion for travel. Along with the expansion of the Internet, the booking service process has also become more accessible with just a click on the smartphone. At the same time, the emergence of a Vietnamese startup project pioneering in building and dominating the market is also a positive signal and a potential for the Vietnamese startup community.
Intracom officially signed the investment contract with Luxstay
Shark Nguyen Thanh Viet additionally claimed that Intracom Group and other investors invest in Luxstay is not only for the expectation of technology and tourism development but also for the pride of Vietnamese products. As long as there is a shortage of social industries and people’s demand, hence, there will be investment from Intracom’s Chairman.