LONDON, 27 September 2017: YOTEL announced, Tuesday, that a fund affiliated with Starwood Capital Group, has committed to making a strategic investment of USD250 million in YOTEL, including acquiring a 30% stake in the company.
Funds will be used to invest in real estate acquisitions for new build, hotel conversions and adaptive reuse properties as YOTEL expands internationally.
Starwood’s investment will enable expansion in Europe, North America and Asia.
It also will help YOTEL strengthen its brand identity, expand geographically as Starwood has already secured city centre sites in Edinburgh, Glasgow and Amsterdam that will open as YOTEL properties by 2019.
YOTEL chairman, Talal Al Bahar 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.”
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, due to open 1 October and will be YOTEL’s first hotel in Asia.
Inspired by the luxury of first class travel, 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.