Currently, it 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 Singapore, which will open on 1 October, will be its first hotel in Asia.
Talal Al Bahar, Chairman of YOTEL, said, “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.”
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 per cent stake in the company.
This will see Yotel investing in real estate acquisitions for new buildings, hotel conversion and adaptive reuse properties as it expands its international footprint. Starwood’s investment and ongoing partnership with Yotel will enable a more rapid expansion, with an emphasis on Europe, North America and Asia.