Centara Launches Budget Brand
Thailand's Centara hospitality group has rolled out a new low-cost brand called COSI.
According to Suparat Uahwatanasakul, Vice President of Business Development the typical rate profile of the brand is expected to be an ADR of THB1000-1250.
Development cost is targeted to come in at THB1.5 million a key.
This places the product somewhere between ibis, IHG's Holiday Inn Express on the high site and Tune on the lower.
A prototype hotel will open in 2015, and the chain expects to fund one property a year either direct or through JV's, and the rest of the pipeline coming on a management basis.