Starwood Capital invests USD 250 million in YOTEL

Starwood Capital invests USD 250 million in YOTEL

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YOTEL announced that a fund affiliated with Starwood Capital Group, a leading global private investment firm, has committed to making a strategic investment of USD 250 million in YOTEL, including acquiring a 30 percent stake in the company and investing in real estate acquisitions for new build, hotel conversion and adaptive reuse properties as YOTEL expands its international scale.

 

Starwood’s investment in and ongoing partnership with YOTEL will further enable YOTEL’s rapid worldwide expansion, with a specific focus on Europe, North America and Asia. It also will help YOTEL strengthen its brand identity, expand geographically and enhance YOTEL’s innovative guest experience. Starwood have already secured city centre sites in Edinburgh, Glasgow and Amsterdam which are expected to open as YOTELs by 2019.

 

Inspired by the luxury of first class travel and uncompromisingly designed around guests, YOTEL takes the essential elements of luxury hotels into smaller, smart spaces and deliver a sense of community with areas for co-working, social gatherings and exercise. Premium Cabins include YOTEL’s signature adjustable SmartBed with rejuvenating monsoon rain showers and a Technowall with adjustable mood lighting and smart TVs, multi power points and easy connectivity.

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YOTEL currently operates four airport hotels under the YOTELAIR brand in London Gatwick, London Heathrow, Amsterdam Schiphol and Paris, Charles de Gaulle airports; and three city hotels in New York, Boston and Singapore. YOTEL is expanding rapidly with new hotels under development globally, including a YOTELAIR in Singapore Changi Airport and new city hotels in San Francisco, London Clerkenwell, Dubai, Edinburgh, Miami and Amsterdam.

 

YOTEL’s major shareholders include the Jassim Al-Bahar Group, IFA Hotels & Resorts, Starwood Capital Group, United Investment Portugal and Aqarat.

 

The partnership with Starwood Capital Group comes as YOTEL celebrates its 10th anniversary, a year of significant growth that includes the openings of YOTEL Boston and YOTEL San Francisco in North America and YOTEL Singapore, which will open on 1 October and will be YOTEL’s first hotel in Asia.

 

Bank of America Merrill Lynch advised Starwood Capital Group on the transaction.

 

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