Yotel eyes Dubai as expansion plans revealed
IFA Hotels & Resorts-backed brand targeting 3000 more cabins by 2018
Cabin-concept hotel brand Yotel, which Kuwait-based IFA Hotels & Resorts is the majority owner of, has set out ambitious growth plans for the next three years, with Dubai one of the major cities it is actively pursuing opportunities in.
The company said it is targeting key city centres and international airports in Asia, Europe and North America, with more than 3000 cabins scheduled to open by 2018.
Among them will be debut hotels in Singapore, Paris, Miami, San Francisco and a second property in New York City.
Yotel chief development officer Jason Brown said: "The Yotel business model is exceptionally attractive to a wide spectrum of investors, ranging from institutional to family offices.
“Our partners are typically well-versed at real estate, often new to hospitality, and are drawn to Yotel’s efficient layouts, lean operations and high-margin room revenue."
The company said it in advanced negotiations to operate new properties in Boston, Atlanta, Austin, Chicago, Los Angeles, Seattle and Toronto.
Outside North America, it is also actively pursuing opportunities in Europe and Asia Pacific, in particular Dubai, London, Milan, Barcelona, Sydney and Hong Kong.
IFA Hotels & Resorts has previously told Hotelier Middle East that it is planning to open a Yotel in Riyadh.