Entrepreneurs, Startups, & Digital Nomads – MEET Your DREAM Hotel
In recent years, we’ve seen a dramatic rise in the popularity of co-working spaces where aspiring entrepreneurs can step out of isolation and work independently alongside like-minded individuals.
In March, a new model was launched out of Southeast Asia that builds on the momentum of this movement and adds another dimension to the shared office space – overnight lodging.
Meet Tribe Theory, a Singapore-born “Venture Hotel” that brings together the communal warmth of a hostel, the standards of a hotel, and the infrastructure of a co-working space built to support independent business owners.
With its launch, founding father and CEO, Vikram Bharati, has bridged the hospitality and coworking worlds and created an experience that is as innovative and inspiring as the entrepreneurs it serves.
For the Well-traveled and Cost-conscious Entrepreneur, Tribe Theory is An Oasis
For less than $30 a night, guests get a capsule bed in a shared dorm room, laundry service, complimentary breakfast, free Wifi, a co-working space, and most importantly, FREE-flowing coffee.
The hotel also provides a list of recommended events around the city to help spark inspiration and facilitate networking for its guests. For those short on cash, Tribe Theory even accepts cryptocurrencies like Bitcoin and Ethereum to pay for your stay.
What we’re trying to do is create a community,” -Bharati, Tribe theory Founder & Ceo.
Tribe Theory doesn’t want to just provide an affordable capsule, but also create a place where people can engage with other entrepreneurs from around the world.
All of this in the equity-rich Singapore just a few blocks from the Central Business District where so much of APAC’s major business activity occurs.
Tribe Theory was built by the hands of an entrepreneur.
The idea behind Tribe Theory was born during a two-year backpacking trip Bharati took around the world where he noticed a gap in affordable accommodation for the traveling entrepreneur. This gap is especially pronounced in regions like Southeast Asia where entrepreneurship is booming, but without the growth in budget hospitality to match. In 2017, $6.5B poured into Southeast Asian start-ups and yet, the average hotel room in a market like Singapore costs $180, more than SIX times the cost of a one night stay in the Tribe Theory hotel.
With the backing of his former venture capital employer, REAPRA, Bharati took Tribe Theory from concept to reality in three months with less than $45k used for renovations in a building that historically belonged to one of Singapore’s earliest entrepreneurs.
“Vikram is the ideal entrepreneur to create this new hybrid category of venture hotels and build a strong network and brand based on location and design,” said Dennis Ye, research lead at REAPRA.
“Investing in Tribe Theory is part of our broader strategy to create innovative and sustainable models for supporting the regional start-up ecosystem in southeast Asia.”-Bharati
The flagship hotel officially launched March 1st, but not before hosting 500 global entrepreneurs from 40 countries during a three-month pre-launch phase. Now that’s pre-launch buzz!
BIG Goal – 10 Cities in 10 Counties in 2 Years
Things are looking good for Bharati and Tribe Theory. The Singapore location was fully booked its entire first month, proving the concept and justifying the aggressive expansion plan in place.
By the end of 2019, Bharati wants to have Tribe Theory locations in Berlin, Los Angeles, Manila, Moscow, Taipei, Estonia, Thailand, and Vietnam.
Outside of opening new hotels, Tribe Theory is expanding its brand across the region in other ways as well. The Tribe Theory “Start-up House” in Bali is best suited for digital nomads seeking a longer-term landing spot but still offers many of the same amenities as the hotel. Additionally, Bharati has established partnerships with other like-minded organizations that share similar missions and values. Smallworld and Hmlet are two examples of Tribe Theory partners located in Cambodia and Japan.
This Untold Business story goes to show that identifying a clear need within a niche market can be a key competitive advantage. In studying Tribe Theory’s UBER successful launch, there are many things Bharati and his team have done extremely well. They identified a niche, took advantage of growing trends towards increased co-working space usage, created a one-of-a-kind experience beautifully tailored to its customers’ needs, and proved the concept in a few short months. When planning your next travels abroad make sure to check out Tribe Theory’s map to see if one of their locations is on your path. It is an accommodation experience you won’t regret…Welcome to The Tribe!
May 30, 2018| By Chris Fruci- Untold Business Writer