Centara Hotels & Resorts has launched a new hotel brand, COSI Hotels, designed for cost-conscious travellers who are searching for pocket-friendly accommodation prices.
The first COSI Hotel is projected to open in 2015 and the company plans to have at least 30 operational by 2020.
The company's CEO, Thirayuth Chirathivat, said: "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. 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. We see 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.”