Eco Hotels plans to raise £5m (30,000) to develop carbon-neutral, modular hotels in India catering for the country's middle class, and aims to have a chain of 200 establishments across Asia. The prefabricated buildings will be produced off-site by sister company Red Ribbon, while the hotels will be sited near business districts in tier one and two cities. Eco Hotels, which may launch a London IPO later this year, will use the initial funding to acquire a management company with a refurbishable portoflio of rooms.
Eco Hotels plans to raise £5m ($6.3m) to develop carbon-neutral, modular hotels in India catering for the country's middle class, and aims to have a chain of 200 establishments across Asia. The prefabricated buildings will be produced off-site by sister company Red Ribbon, while the hotels will be sited near business districts in tier one and two cities. Eco Hotels, which may launch a London IPO later this year, will use the initial funding to acquire a management company with a refurbishable portoflio of rooms.