Yotel Announces Ambitious Growth Plans For Australia

YOTEL today announced its first hotel in Australia: YOTEL Melbourne, slated to open in 2022. The hotel has been signed under a management agreement with Cornerstone Partners Group, an integrated hospitality asset owner and developer with offices in Malaysia, Taiwan and Australia.

"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 took the hotel industry by storm in Europe, the U.S. and Singapore thanks to its cleverly designed cabins popular with both corporate and leisure travellers who appreciate quality, technology, comfort and a sense of community, but don't need the fuss or price of a traditional luxury hotel. The Company now intends to replicate its success in Australia with a fresh take on the national hotel sector.

"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).

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.

ABOUT CORNERSTONE PARTNERS

Headquartered in Kuala Lumpur, Malaysia, Cornerstone Partners Group ("CPG") is an integrated asset owner and developer focusing on hospitality related projects. Transcending the conventional, CPG maintains luxury with affordability, infusing old with the new and blend international with local flavours. Founded in 2014, CPG specialises in revitalising assets through a systemic repositioning framework in collaboration with strategic hospitality brand owners, backed by its own network of capital partners and investors.

To date, the Group owns and oversees a dynamic portfolio of four iconic hospitality assets across Asia Pacific, worth approximately USD200million in direct investments. Properties include the DoubleTree Resort by Hilton Penang (Malaysia), Kimpton Da An Hotel Taipei (Taiwan), CitizenM Kuala Lumpur (Malaysia) and YOTEL Melbourne (Australia).

Visit https://cornerstonepartners.com.my/ for more information on CPG.

Media Contact

Lara Conradie

Account Executive [email protected] +44 (0)20 7632 7672