Thailand-based Centara Hotels & Resorts has
launched a new hotel brand, Cosi Hotels, designed for
cost-conscious travellers who mostly do all their own bookings
online and who are searching for pocket-friendly accommodation
The first Cosi Hotel is projected to open in
2015 and Centara plans to have at least 30 operational by 2020.
Cosi Hotels will focus on clearly identified products that
include free Wi-Fi everywhere in the hotel, easy and convenient “grab-n-go” restaurants, seminar rooms for corporate guests, and
an entertainment corner in the lobby area for movies and live
sport. Cosi will offer both twin and king beds for standard room
types and specially designed rooms for families.
“For the room rate, it depends on each location,” said Suparat Uahwatanasakul,
Vice President of Business Development at Centara International
Management Co., Ltd.
“However, the average room rate will be approximately 1,000-1,250
Baht per night. Pricing strategy will be for dynamic pricing,
which depends on booking periods and booking conditions.”
Thirayuth Chirathivat, Chief Executive Officer
of Centara Hotels & Resorts, said that the Cosi brand has been
developed in response to rapid economic expansion within the Asia
Pacific region, which is increasing the volume of both domestic
and international journeys.
“There is an enormous
growth in travel, and the significant growth of low-cost airlines
is allowing people to travel more easily and conveniently,” he
said. “Travelling by low-cost airline in the ASEAN
grouping currently accounts for 51% of the aviation
industry in the ASEAN. Further, the ASEAN Economic Community or
AEC will be implemented two years from now adding further demand. These factors are leading to the need for convenient
accommodation and also value for money. Centara
Hotels & Resorts sees a great opportunity to develop a new brand
to cover this economic segment, and we are now in the process of
brand and product development for Cosi Hotels.”
Construction costs of a Cosi hotel is expected to
be around 1.5 million baht per room, and Centara is in the process of requesting construction permission for one
hotel, a prototype hotel planned to open in 2015.
“We plan 100% investment or a joint venture of
one hotel a year and to further manage four hotels a year. We
intend to expand through the significant destinations of Thailand
then will further expand to ASEAN countries, China, Australia, and New Zealand,” Suparat
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