Yotel is expanding into the extended-stay segment with the launch of the new YotelPad brand, with five deals for “compact homes” already signed.
“Following the successful rollout of YotelAir and Yotel, we saw a natural opportunity to rethink the traditional extended-stay segment in the same fashion we disrupted conventional hotel models,” Yotel CEO Hubert Viriot said in a statement. The new brand, he added, will not only let the company enter a new market segment, but will bring it to new locations that are not ideal for the Yotel and YotelAir brands.
Standard YotelPads will start from 215 square feet, but larger Pads will also be available with kitchenettes and storage space. Communal areas and amenities can include 24/7 gyms, bike and gear storage, Amazon lockers, laundry, home cinema and library as well as Yotel's Club Lounge for co-working, meetings and entertaining friends or colleagues.
YotelPad will launch globally with the five projects already confirmed in North America, Europe and the Middle East. The first two YotelPads will be in Park City, Utah and Downtown Miami. YotelPad Park City is located at Park City Mountain, the largest ski resort in the U.S., and will be developed by Replay Destinations. The second is in Downtown Miami, and will form part of a mixed-use development including 250 Yotel cabins and 208 Pads by the Aria Development Group.
YotelPad Park City and Miami will be followed by two YotelPads in the Geneva Lake region to be developed by M3 Real Estate and Yotel Dubai in Business Bay, will also feature YotelPads as part of their developments.
“Alongside our existing brands, we see huge potential for the development of YotelPad globally,” Viriot said. “YotelPads can be stand-alone or form part of a mixed-use development including a Yotel. Each Pad will be operated by Yotel and can be owned by individual or institutional investors.”