LONDON and MIAMI, September 26,
2017 /PRNewswire/ --
YOTEL announced today that a fund affiliated with Starwood
Capital Group ("Starwood"), a leading global private investment
firm, has committed to making a strategic investment of
$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.
"This strategic partnership and investment highlights Starwood's
longstanding passion and commitment to invest in innovative
hospitality platforms. YOTEL is an exciting brand focused on
technology, smart design and a distinct guest experience at an
affordable price, which is the right strategy amid the current wave
of digital disruption," said Barry
Sternlicht, Chairman and CEO of Starwood Capital Group.
"YOTEL has global appeal and can be easily scaled up with key
strategic acquisitions and developments in desired city centre and
airport locations."
Cody Bradshaw, Managing Director,
Head of European Hotels at Starwood Capital Group and Sarah Broughton, Senior Vice President,
Starwood Capital Group will join the YOTEL board of directors,
alongside representatives of the company's major shareholders
including the Jassim Al-Bahar Group, IFA Hotels & Resorts,
United Investment Portugal and Aqarat which jointly own 65% stake
in the company.
Talal Al Bahar, Chairman of YOTEL
and the lead investor said, "We are delighted to announce a new
institutional investor into YOTEL alongside our existing
shareholders. Starwood Capital Group's investment validates the
company's strategy, provides strength and stability at a critical
expansion stage and opens up new horizons for YOTEL to become the
leading affordable luxury hotel brand."
Hubert Viriot, CEO of YOTEL
commented, "YOTEL is growing rapidly with 15 hotels currently at
various stages of development. We look forward to leveraging
Starwood's investment, design, operational and technological
expertise to expand our platform, attract talent and enter
additional markets whilst continuing to work closely with our
existing partners and fostering new relationships as we take our
brand to the next level."
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.
About Starwood Capital Group
Starwood Capital Group is a private alternative investment firm
with a core focus on global real estate, energy infrastructure and
oil & gas. The Firm and its affiliates maintain 10 offices in
four countries around the world, and currently have more than 3,400
employees. Starwood Capital Group has raised over $42 billion of equity capital since its inception
in 1991, and currently manages more than $54
billion in assets. The Firm has invested in virtually every
category of real estate on a global basis, opportunistically
shifting asset classes, geographies and positions in the capital
stack as it perceives risk/reward dynamics to be evolving. Over the
past 26 years, Starwood Capital Group and its affiliates have
successfully executed an investment strategy that involves building
enterprises in both the private and public markets. Additional
information can be found at starwoodcapital.com.
About YOTEL
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.
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.
To see YOTEL's evolution visit: http://www.yotel.com/evolution
(only active from 8am Tuesday 26
September)
YOTEL's major shareholders include the Jassim Al-Bahar Group,
IFA Hotels & Resorts, Starwood Capital Group, United Investment
Portugal and Aqarat.
YOTEL was created by YO! founder Simon Woodroffe OBE, who
inspired by first class travel, translated the language of luxury
airline travel into a small but luxurious cabin
(http://www.yo.co.uk).
For more information or to book a stay at YOTEL New York,
Boston, Singapore, San
Francisco or YOTELAIR properties at London Heathrow,
London Gatwick, Amsterdam Schiphol and Paris Charles de Gaulle visit:
http://www.YOTEL.com
Contact: yotel@kwittken.com