Acquisitions & Hotel Openings

YOTEL Launches Brand in U.S. in New York City

Revolutionary UK-Based Hotel Concept Brings Affordable Luxury to New York with 2011 Opening in Related Companies’ Theater District Development

MARCH 1, 2010 - YOTEL is today announcing that it will launch its brand in the United States with a New York City property featuring over 669 stylish cabins. YOTEL, Times Square will be the brand’s first opening outside of its current international airport locations and the largest hotel opening in New York in 2011. YOTEL will bring its distinctive affordable luxury experience to Manhattan as one component of a mixed-use project under development by Related Companies in the city’s theater district.

YO! Founder Simon Woodroffe OBE and YOTEL CEO Gerard Greene conceived the innovative YOTEL cabins to provide a flexible and convenient ‘first class’ hotel experience at affordable prices. Inspired by first-class airline cabins, YOTEL, Times Square will be part of Related’s 1.2 million square foot, 60 story LEED-Silver development -- located in the city’s theater district at 42nd Street and 10th Avenue -- and which will also include residential units and the Signature Center, an off-Broadway theatre complex designed by Frank Gehry. Unlike YOTEL’s three existing hotels, its flagship US property will be full-service, featuring a restaurant, bar, meeting rooms, Club Lounge and the largest outside terrace space of any hotel in New York.

Simon Woodroffe said of the New York launch: “YOTEL will bring a unique mix of fun, excitement and luxury to New York and all at an affordable price. YOTEL has a fantastic energy about it which New York’s 44 million visitors a year will love.”

YOTEL, Times Square will be designed by Rockwell Group in collaboration with Softroom. Achingly cool and chillingly efficient, YOTEL will offer customers a perfectly designed 170 square-foot private space with maximum efficiency and cutting edge technology where guests can relax, refresh, connect and sleep. Rooms feature luxury bedding, rejuvenating monsoon rain showers, relaxing purple mood lighting, YOTEL’s ‘techno wall’ with flat screen TV and complimentary WiFi.

YOTEL CEO, Gerard Greene stated: “A solution to boring and expensive hotels, YOTEL uses radical design to offer the customer an exciting product and better value for money. Not satisfied with airports, we are now transferring a successful brand to city centers across the globe.”

Following a major investment by partners IFA Hotel’s & Resorts and openings at Heathrow, Gatwick and Schiphol, Amsterdam airports, YOTEL has established itself in the hearts of international travelers and media alike by collecting industry awards and rave Trip Advisor ratings. Last year, YOTEL won the prestigious Business Accommodation of the Year at the Business Travel World Awards.

“We’re very excited with the opening of YOTEL New York as this is our fourth property to open. YOTEL is different from other investments we have in the hotel sector and we truly believe it represents the future. It is a brand that is going to grow exponentially in the next few years,” said Joe Sita, President of IFA Hotel Investment.

About YOTEL YOTEL was created by Simon Woodroffe and YOTEL CEO Gerard Greene. The idea was conceived by Simon after he was upgraded to first class on a flight. He decided to translate the language of luxury airline travel and Japanese capsule hotels into a small but luxurious cabin. Gerard Greene evolved that idea into reality with YOTEL.

YOTEL launched as a revolutionary hotel concept in the summer of 2007, with its first location inside London’s Gatwick South terminal. In December 2007, the brand opened its second airport location inside London’s Heathrow Airport Terminal 4, followed by its third location in the airside transit area at Schiphol Airport, Amsterdam in September of 2008. The YOTEL airport product is bookable by the hour, 24hrs a day, perfect for customers to refresh and relax during a long transit, delay or to get a decent nights sleep before an early flight.

Having successfully implemented the brand in UK and European airport locations, YOTEL is looking to expand further. Key international locations are in the pipeline. YOTEL can use space better than any other hotel, up to 50% more rooms.

Supported by IFA Hotels and Resorts, YOTEL’s CEO, Gerard Greene, leads an experienced executive team bringing together expertise from the hotel, travel and leisure industries across the private and public sectors.

www.yotel.com / twitter: YOTELHQ

About Simon Woodroffe
Simon Woodroffe is the creator of worldwide restaurant phenomenon YO! Sushi which today operates 59 restaurants in 5 countries. He is a well-known entrepreneur from the UK following a stint as a “dragon” on the popular UK BBC2 television series The Dragons’ Den, where aspiring entrepreneurs vie for support from established business people. Simon was awarded an OBE in the Queen's Birthday Honours list 2006.

www.yocompany.biz

About IFA Hotels & Resorts
Listed for several years on both the Kuwait and Johannesburg stock exchanges, IFA Hotels & Resorts (IFA HR) continues to be a financially sound and profitable company committed to completing its ongoing projects and delivering positive returns to investors through an international network of hospitality focused property and leisure businesses.

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