“Chototel was conceived out of a need to provide good quality, dignified housing solutions in a market that fails to cater to those at the bottom of the pyramid. Soaring rentals and housing prices are fuelling housing poverty resulting in vacant residential projects and a greater number of people living in substandard housing. There is clearly a mismatch in the supply and demand of housing, particularly with regard to the demands of the urban poor. There is a gap in the market that, if filled successfully, has the potential for phenomenal social impact.
Chototel, formed from the words “chotu” (meaning small) and hotel, is rolling out an exciting project building ‘super-budget hotels’, where tariffs start from US$2/day with uninterrupted utilities, clean water and social infrastructure such as crèches, community kitchens and open, green spaces.
Access to decent affordable shelter is so fundamental to the health and well-being of people and the smooth functioning of economies that it is embedded in the UN Declaration of Human Rights. Yet, in developing and advanced economies alike, cities struggle with the challenge of accommodating their poorest citizens. There is a phenomenal migration of the rural poor to cities, such that they now constitute the majority of the urban population in developing countries; yet their living conditions represent a tragic failure on the part of urban planners.”