Chototel chooses India to build its first $2 hotel
Chototel, a London-based technology startup has chosen India to set up its pilot “super-budget”hotel. Hotel tariffs start at Rs 100/day and offer uninterrupted electricity, water, gas and social infrastructure including daycare, infirmaries & community kitchen and gardens. Througha diverse array of IOT, closed loop, real-time cash transfer, digital health and Big Data technologies, the project is able to deliver efficiencies from construction through to hotel operations and maintenance.
The first project has already broken ground and is construction is underway in Nagothane, an industrial town, 70 kilometres south of Mumbai and situated on the new Mumbai-Goa expressway. The 240-room development will cater to 1,000guestsand is spread across 1.5 acres and 75,000 square feet ofconstructed area. The project cost is GBP 1.75M (or INR 175M), translating to a price of approximately GBP 7000 (or INR 700,000) for a room size of 290 square feet. The project has a wide frontage on the National Highway 17 (Mumbai – Goa). The first Chototel location will target its accommodations at the large bank of industrial workers, working within a 15-kilometre radius, and also those travelling on the Mumbai-Goa expressway.
Chototel is currently in the process of 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 5 years in the Mumbai-Pune-Goa corridor.
Says Chris Phillips, Chototel’s Chairman: “India’s diversified economy and robust growth prospects make it the most attractive location globally to set up our first project. We believethat policy-makers will take effective action to enhance the country’s economic strength and, in turn, the financial strength over coming years. With inflation under control and the economy benefiting from lower commodity prices, demand for low-cost service products can only go up.”
Rhea Silva, Managing Director, Chototel adds, “TheChototel 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. We are committed to making India the cornerstone of our market entry strategy. Subject to the success of our early steps we are planning to build 100,000 rooms in the next few years in India and would welcome support from regional governments. ”