Thai hotel group Centara has unveiled a new budget brand aimed at “cost-conscious travellers who mostly do all their own bookings on-line and who are searching for pocket-friendly accommodation prices”.

The first Cosi hotel is projected to open in 2015 (location not yet disclosed), and the group aims to have 30 properties open by 2020.

Centara’s CEO Thirayuth Chirathivat said that the new brand had 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,” said Chirathivat.

“Travelling by low-cost airlines in the Asean grouping currently accounts for 51 per cent of the aviation industry in the Asean [region]. 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.

“Centara Hotels and Resorts sees 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.”

According to Centara the Cosi brand stands for: Comfortable, Open, Sensible and Individual.

Room rates will average around 1,000-1,200 Baht (£20-£24), and will include free wifi, “grab’n’go” breakfasts, meeting rooms, and an entertainment corner for movies and live sport.

The new brand adds to the group’s existing upmarket Centara Hotels and Resorts and the four-star Centra offering.

The majority of the Centara’s properties are located in Thailand, although it does also offer hotels in the Maldives, Mauritius and Vietnam.