Chototel has chosen India to set up its pilot “super-budget” hotel concept.
The hotel is being constructed in Nagothane, an industrial town 70km south of Mumbai and situated on the new Mumbai-Goa expressway. The 240-room development is spread across 6070m² of land, and the project is estimated to cost INR175 million (US$2.6m) to build. Room rates will start at INR100 (approx. US$1.50) per night.
Chototel is also acquiring land in Chakan, Goa and Gujarat for its next round of projects in India. The company aims to build 100,000 rooms in the next five years along the Mumbai-Pune-Goa corridor.
Chris Phillips, Chototel’s chairman, said; “India’s diversified economy and robust growth prospects make it the most attractive location globally to set up our first project. We believe that policy-makers will take effective action to enhance the country’s economic strength and, in turn, the financial strength over coming years.”
Chototel states that its mission is to provide “budget-friendly accommodation with uninterrupted utilities, clean, potable water and social infrastructure… to create unparalleled economic, social and environmental impact”.
“The Chototel project is a technological super machine. We use innovative technologies to build, operate and manage in a way that helps us keep costs low and efficiencies high,” explained Rhea Silva, the company’s managing director.