Chototel Introduces the World's First "Super Budget Hotel"

Chototel was founded by Rhea Silva, who is a third generation social entrepreneur with experience in building affordable housing and hotels.  The idea to disrupt the housing market has attracted strong support, and Rhea has been joined by Chris Phillips, who has enjoyed a successful City career chairing a number of companies listed in the United Kingdom and Germany and has been appointed Non-Executive Chairman. He is currently the Chairman of Places for People, one of the largest property and leisure management, development and regeneration companies in the UK, which owns or manages over 143,000 homes with assets in excess of £3 billion.

LONDON, 15/09/2016 (informazione.news - comunicati stampa - turismo)

Chototel was founded by Rhea Silva , who is a third generation social entrepreneur with experience in building affordable housing and hotels.  The idea to disrupt the housing market has attracted strong support, and Rhea has been joined by Chris Phillips , who has enjoyed a successful City career chairing a number of companies listed in the United Kingdom and Germany and has been appointed Non-Executive Chairman. He is currently the Chairman of Places for People, one of the largest property and leisure management, development and regeneration companies in the UK, which owns or manages over 143,000 homes with assets in excess of £3 billion.

To give global context to the housing crisis - access to decent, affordable shelter is embedded in the UN Declaration of Human Rights and yet, according to a 2014 McKinsey Global Institute report, it is still estimated that 440 million households or 1.6 billion people (a third of the urban population) will occupy crowded, inadequate and unsafe housing by 2025.

The concept seeks to offer accommodation starting from just US$2 per night and to use technology to provide residents with the services they need - paying only for what they consume. The US$2 rent can be potentially shared by up to four residents. Electricity, water and gas will be charged on a consumption basis, which will discourage wastage. The cost of utilities per room is not expected to exceed US$0.50 per day, as the equipment in each room has been optimally sized to maximise efficiency.

Investors who wish to share in the founder's vision will have the opportunity to invest in the first two projects located in India , as in the coming weeks Chototel intends to seek admission to trading on the Social Stock Exchange segment of London's ISDX Growth Market of Chototel Cell A IC Limited ("the Cell Company").  The Cell Company intends to raise US$ 5 million via a subscription for shares to invest in the first two projects.

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FOR FURTHER INFORMATION PLEASE VISIT: http://www.chototel.co.uk or contact: Belvedere Communications: Kim van Beeck / John West , kvbeeck@belvederepr.com