Dubai gets its first YOTEL
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The emirate of Dubai will soon have the first YOTEL. In a recent development, Kuwait-listed IFA Hotels & Resorts KSCC an affiliate of YOTEL signed a long-term agreement with Dubai Investment Properties LLC (DIP).
This is the property’s first foray into the region. On completion in early 2018, the 42-storey property designed by Arkiteknik International will feature 438 cabins. The property will showcase techno walls and smart beds, as well YOTEL’s exclusive club lounge and a multi-function recreational space. The property will also feature 127 serviced apartments, also managed by YOTEL.
Talal Al Bahar, chairman and group CEO of IFA HR said: “The brand has increasing global potential in its ability to deliver returns to investors. The concept and product are ideal for Dubai, a market where IFA HR has been active for over a decade.”
Dubai was chosen based on its prominence as a capital renowned for attracting a mix of business and leisure visitors. With over 10 million visitors in 2014, Dubai was the fifth most visited city by international visitors, with Saudi Arabia, India, United Kingdom and the United States topping the list of source markets.
This agreement also represents the first phase of YOTEL’s aggressive expansion into the Middle East. The company is currently in advanced negotiations on potential hotel projects in Riyadh, Jeddah, Istanbul and Abu Dhabi.
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