Budget hotel company Yotel has announced plans for a major global expansion, targeting more city centre locations and international airports.
The group is planning to launch more than 3,000 new ‘cabins’ by 2018, including new properties in Singapore, Paris, Miami, San Francisco and a second property in New York.
“Yotel has created a niche product for affordable luxury. Since the opening of our first hotel in 2006, Yotel has accommodated over one million visitors and collected invaluable insight on both our guests’ expectations and our investors’ requirements. Today, Yotel has the solid foundation and proven track record to expand globally,” said the company’s CEO, Hubert Viriot.
Initially conceived for busy international travellers at airport terminals, Yotel’s concept has since been introduced to city centre locations, with the 2011 launch of the 669-room Yotel Times Square in New York. Other existing locations include London’s Heathrow and Gatwick airports, plus Amsterdam Schiphol.
The next three locations to open in the US will be in Miami, Brooklyn and San Francisco, adding a total of 560 cabins.
In Europe, Yotel is developing its fourth airport hotel at Paris Charles de Gaulle, which is due to open in mid-2016. The following year, the company will open its first property in Asia with the launch of the 600-cabin Yotel Singapore on Orchard Road.
And Yotel said it is in “advanced negotiations” for more new properties in Boston, Atlanta, Austin, Chicago, Los Angeles, Seattle and Toronto, and is “actively pursuing” opportunities in Dubai, London, Milan, Barcelona, Sydney and Hong Kong.
“One third of the company’s future growth is anticipated to take place within airport locations, with the other two-thirds planned for city centres,” revealed Yotel’s chief development officer, Jason Brown.