PLANS FOR 438 CABINS AND 127 SERVICED APARTMENTS IN BUSINESS BAY
March 10, 2015 – YOTEL, an affiliate company of Kuwait-listed IFA Hotels & Resorts KSCC, has signed a long-term agreement with Dubai Investment Properties LLC (‘DIP’) to operate a new hotel in Dubai, UAE. This marks the hospitality brand’s first property in the Middle East.
The hotel is part of a major new development located on Sheikh Zayed Road, directly adjacent to the upcoming Dubai Water Canal Project and at the gateway of Business Bay, the city’s fastest growing business district. Perfectly located, the hotel will be a short walk from the Business Bay Metro station and just minutes from Downtown Dubai, the Burj Khalifa and the Dubai Mall.
When complete in early 2018, the 42-storey property designed by Arkiteknik International will boast 438 ‘cabins’, furnished with the brand’s signature Techno Walls and Smart Beds, as well YOTEL’s exclusive Club Lounge, a multi-function co-working and recreational space. The property will also feature 127 serviced apartments, also managed by YOTEL, marking the brand’s debut in the fast-expanding serviced residence space.
YOTEL is a strategic company for our group’ said Talal Al Bahar, Chairman and Group CEO of IFA HR. ‘The brand has increasingly global potential in its ability to deliver attractive returns to investors and an exceptional guest experience at an affordable price. The concept and product are ideal for Dubai, a market where IFA HR has been active for over a decade.’
‘We are delighted to announce our first project in the UAE with DIP’ said Hubert Viriot, CEO of YOTEL. ‘Dubai has a thriving hospitality market but lacks good quality, affordable luxury hotels. YOTEL Business Bay will put an end to this oddity and be a true flagship for our brand in the Middle East, a region with huge untapped potential. This project is also our debut into the serviced apartment segment, a natural extension to our brand DNA – smart spaces delivering outstanding value.’