Yotel has signed its first hotel in
Slated to open in 2022, the Yotel Melbourne will
operate under a management agreement with Cornerstone Partners
Group, an integrated hospitality asset owner and developer with
offices in Malaysia, Taiwan and Australia.
property will be located on 63-69 City Road in Southbank, within
walking distance of Melbourne’s CBD, the Arts Precinct, Federation
Square and the Melbourne Cricket Ground.
Yotel Melbourne will be a flagship property for
Australia, and will feature areas for
co-working, informal meetings, relaxing and socialising, serving
up everything from flat whites by UK specialty roaster Workshop
Coffee to signature cocktails on the outdoor terrace. The property
will also feature a 24/7 gym and viewing deck with restaurant and
“Over the past two years, we have been actively
searching for the right locations and partners to roll out our
brands in Australia, a key market for our global expansion and a
key feeder market for our hotels in the US, Singapore and the UK.
With solid market fundamentals and global appeal, Melbourne is the
perfect gateway to launch our first property in the country.
Moreover, we are delighted to enter the market with Cornerstone
Partners Group, an international leader in hospitality and real
estate investments”, said Hubert Viriot, CEO of Yotel.
Yotel now has hotels in Europe, the U.S. and
“Australia is a very
sophisticated hotel market with strong stakeholders; however, we
believe the affordable luxury segment has been underserved and
that’s what Yotel intends to solve. Yotel Melbourne will serve as
a launching pad for our brand across the country, following a
similar strategy as what we did in the USA, where we first opened
a property in New York in 2011 and now have 10 hotels under
management with extensive operational synergies and strong
distribution channels. We are already exploring development
opportunities in Sydney, Brisbane and Perth and we are confident
we will soon have a robust hotel pipeline in place,
targeting both our international customer base as well as the
domestic market,” continued Viriot.
The group is planning
to bring all three its brands to the region - Yotel (the city centre concept),
YotelAIR (located at airports and busy transport
hubs) and YotelPAD (designed around the long stay guest).
Yotel Melbourne will be owned and developed by Cornerstone
Partners Group and architecturally designed by CHT Architects.
“Our group is focused on finding gaps in the hospitality
markets across Asia Pacific. In Australia, we believe there is an
avenue for disruptive brands such as Yotel, which offer something
completely new to the market. We were also impressed by Yotel’s
global development pipeline, focused on key gateway markets, which
fits perfectly with our strategy, therefore it was only natural to
join forces on our first project in Australia in Melbourne, one of
the country’s most cosmopolitan and urbanised cities,” said Jason Chong, CEO, Cornerstone Partners Group.
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