Noting that the Eco Hotels UK Plc has developed the world's first carbon neutral hotel brand, The Eco and Ecolodge, Suchit Punnose, the CEO of Red Ribbon Asset Management said: "The first market we are targeting is the growth market of India which has one of the largest demands for hotel rooms in the market."

"It is the intention of the company to develop an inventory of 10,000 rooms by 2022 which will amount to 100 hotels with 100-room average," he said.

Red Ribbon Asset Management, the owners of Eco Hotels UK, is setting up India's first steel modular buildings factory in Indapur, Pune, which will commence production in 2015 with an annual capacity to roll out 40 hotels with 100 rooms each per annum.

"The ability of the steel modular technology to deliver a hundred room hotel completed in 24 weeks on a fixed cost and time guarantee is a powerful tool for Eco Hotels UK Plc to achieve its roll out target," said Punnose.

The Eco and Ecolodge will represent premium value budget pricing across all properties.

The properties will have solar roof top and wind turbines to generate green energy and the buildings will have high LEEDs rating as it is built on modular technology thereby significantly reducing the carbon footprint, he said.

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