Chototel brand designed to break the low-cost mold
Through construction and operational efficiencies, Chototel’s founder sees a future in ‘super budget’ hotels with ADRs of $2 to $5. A hotel vision that accommodates traditional guests for an average daily rate between $2 and $5 and also provides affordable housing is the mission of the minds behind Chototel.
Chototel—“chhota” means “small” in Hindi—is the brainchild of Rhea Silva, its founder and managing director, who started the company in January. Chototel is now listed on London’s Social Stock Exchange, which seeks to grow the “impact investing” sector and reportedly controlled assets worth $77.4 billion in 2015.