This marks the group’s second franchise and conversion deal in the UK in under three months…
The 161-room hotel, conveniently located in the heart of vibrant East London, on Cambridge Heath Road, already incorporates some of YOTEL’s minimalistic design features and facilities. As part of the conversion, the property will receive a light refurbishment to incorporate YOTEL’s signature design and technology features. Guests will be able to check-in in under a minute on self-service stations at Mission Control and will be able to use their mobile devices as SmartKeys.
The hotel is ideal for both business and leisure travellers, featuring several room types, from double and twins, to family and interconnecting rooms. Accessible via the high street and hotel lobby, the hotel also features its own beautifully designed bar, restaurant, and co-working space. YOTEL London Shoreditch is owned by Crestline Investors Inc. (“Crestline”) and Avelios Investors (“Avelios”) and will be managed by Michels & Taylor.
“Being able to secure two franchise deals in under three months is testament to the growing strength of the YOTEL brand and its increased relevance in delivering low-touch high-tech hospitality experiences,” said Hubert Viriot, CEO, YOTEL. “We’re delighted to be working with institutional partners Crestline and Avelios, which once again showcases YOTEL’s continued sophistication in working with established hotel owners and investors.”
”We are excited to be working with YOTEL as franchisor to our hotel and are looking forward to a successful and long-term partnership,” said Andrey Panna, Partner at Crestline Europe LLP. “YOTEL brings the right mix of fresh and innovative design coupled with a unique guest experience to the hotel,” said Guido Lang, CIO Avelios.
The hotel will be run under franchise by Michels & Taylor, one of Europe’s leading hotel management and advisory businesses. Peter Hales, Managing Director of Michels & Taylor Hotel Management, comments: “We are delighted to be running our first hotel under the YOTEL brand. The innovation and quality of the brand will add significant value to the hotel’s operation, and we look forward to working closely with all the YOTEL team in the coming years”.
Less than three minutes’ walk away from Bethnal Green tube station, the hotel is situated in a vibrant part of East London, home to many creative start-ups, media agencies, and entrepreneurs. The area is conveniently connected to the city centre, famous London landmarks, and leisure attractions through various transport links. It is well supplied with cocktail bars, urban wineries, and world-class restaurants. Guest staying at the hotel will be a short walk away from London Fields, Broadway Market, and Columbia Road.
“As with YOTEL Manchester, YOTEL London Shoreditch contributes to the more than 1,200 keys in our UK portfolio and is testament to the continuation of our hotel conversion strategy as well as our expansion plans in the UK and Europe whether through franchise or hotel management agreements. We are looking forward to emulating this strategy in other cities around the world,” continued Viriot.
The group currently has 19 hotels in operation worldwide, from San Francisco to New York, Amsterdam to Istanbul, and all the way to Singapore. The next YOTEL to open will be YOTEL and YOTELPAD Miami in spring 2022, followed by YOTEL Geneva later in the year.
Inspired by the luxury of first-class travel and uncompromisingly designed around guests, YOTEL takes the essential elements of luxury hotels into smaller, smart spaces and deliver extraordinary value and a sense of community with areas for co-working, social gatherings and exercise in sought after locations. Premium Cabins include YOTEL’s signature adjustable SmartBed™ with rejuvenating rain showers and SMART TVs, multi power and USB points and easy connectivity.
YOTEL currently operates six airport hotels in London Gatwick, Amsterdam Schiphol, Paris, Charles de Gaulle, Istanbul Airport (2), Singapore Changi and thirteen city centre hotels in New York, Boston, San Francisco, Washington D.C., Singapore, Edinburgh, London (2), Amsterdam, Porto, Glasgow, Manchester and the first-ever YOTELPAD in Park City. YOTEL is expanding rapidly with new projects under development globally, including Dubai, Geneva, Long Island City, Miami, Mammoth, Atlanta and Melbourne.
YOTEL’s major shareholders include a controlled affiliate of Starwood Capital Group, the Talal Jassim Al-Bahar Group, United Investment Portugal and Kuwait Real Estate Company (AQARAT).
Visit www.yotel.com for more information.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm with approximately $13.8 billion in assets under management. Headquartered in Fort Worth, Texas, the company maintains affiliate offices in New York City, London, Toronto and Tokyo. For more information, please visit www.crestlineinvestors.com
Michels & Taylor is one of Europe’s leading hotel management, advisory and asset management businesses. Run by Sir David Michels and Hugh Taylor OBE, the company supports hotel owners, investors and lenders in enhancing value from their assets and is currently involved in around 100 hotels across Europe, including over 20 hotels which it operates for its clients under full management contracts.