Yotel has announced its foray into the extended stay segment with the launch of its new Yotelpad brand.
Offering luxury, serviced ‘compact homes' at an affordable price, Yotelpads have been announced for Park City in Utah in the US (to be developed by Replay), which will be followed by two developments in the Lake Geneva area (to be developed by M3 Real Estate). Yotelpads will also feature within the Yotels under construction in Dubai and Miami.
"Yotelpad not only allows us to enter a new market segment, but also enables us to operate in new locations, not naturally suited to our Yotel and Yotelair brands," said Hubert Viriot, chief executive of Yotel.
Standard ‘pads' will start from 215 sq ft featuring Yotel's adjustable SmartBeds, Technowalls, work and relaxing areas, en-suite bathrooms and fully equipped kitchenettes.
Communal areas and amenities will include a 24/7 gym, bike and gear storage, Amazon lockers, laundry, home cinema and library as well as a club lounge.
Yotel, founded by Simon Woodroffe, currently operates four Yotelairs in London Gatwick, London Heathrow, Amsterdam Schiphol and Paris's Charles de Gaulle airports, as well as three city hotels in New York, Boston and Singapore.
The company announced it is targeting 60 hotels open by 2023, with development underway on Yotels in London Clerkenwell, due to open later this year, and Edinburgh.
Yotel's major shareholders include the Al-Bahar Group, IFA Hotels & Resorts, Starwood Capital (which acquired a 30% stake in the group last year), United Investment Portugal and Kuwait Real Estate Company.
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