A fund affiliated with Starwood Capital Group, a
leading global private investment firm, has committed to making a
strategic investment of $250 million in YOTEL, including acquiring
a 30% 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.
Starwood has already secured city centre sites in Edinburgh,
Glasgow and Amsterdam which are expected to open as YOTELs by
"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
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.
Hubert Viriot, CEO
of YOTEL, said, "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 YOTEL
on the transaction.
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