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 1,000 guests and is spread across 1.5 acres and 75,000 square feet of constructed 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 â€“ 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, Chototelâ€™s Chairman: â€śIndiaâ€™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 countryâ€™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.â€ť
Rhea Silva, Managing Director, Chototel adds, â€śThe 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. 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. â€ť
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