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YOTEL enters Asian market with prime new hotel development in Singapore

Jones Lang LaSalle’s Hotels & Hospitality Group has successfully negotiated a Management Agreement for the first YOTEL hotel in Asia.

SINGAPORE, 19 July 2013:  Jones Lang LaSalle’s Hotels & Hospitality Group (“JLL H&H”) has successfully negotiated a Management Agreement for the first YOTEL hotel in Asia. Acting as an exclusive advisor for Hong Fok Corporation Limited, JLL H&H facilitated the operator selection, signing and execution of the Hotel Management Agreement with the YOTEL brand. 

Scheduled to open in 2018, YOTEL Singapore Orchard Road will feature approximately 600 guest rooms in the prime shopping hub of Singapore. YOTEL has been acclaimed for its efficiency and productivity through innovative design and a unique, radical approach to the hotel industry. The new hotel will bring the brand’s unique mixture of affordable luxury, fun and comfort to the Singapore market. 

Tom Oakden, Executive Vice President, Jones Lang LaSalle, Hotels & Hospitality said, “YOTEL Singapore Orchard Road, the first YOTEL in Asia, will greatly complement the current hospitality offering in Singapore. We are seeing an increased demand for mid-market hotels in the Asia Pacific market, opening up great opportunities for consumers to travel in the region as both corporate and leisure guests are attracted by the good value for money on offer. We expect the continued growth of mid-market hotels in Asia over the short to medium term as land prices remain high in the region and developers look to diversify their investment portfolios.”

Tasos Kousloglou​, Senior Vice President, Asset Management, Jones Lang LaSalle, Hotels & Hospitality added,  “Drawing upon our deep understanding of the global hotel industry and trends in hotel management agreements, we were able to successfully negotiate terms that are beneficial to both Hong Fok Corporation and YOTEL. The signing and execution of the Hotel Management Agreement demonstrate our unique capability of understanding the needs of the owner and operator and aligning their interests for a successful and innovative mid-scale hotel development in Singapore.”

Featuring 669 stylish cabins, YOTEL's flagship city hotel – YOTEL New York - was launched in 2011 with great success. Supported by IFA Hotel Investments, a subsidiary of IFA Hotels and Resorts KSCC, YOTEL also operates three terminal airport hotels at London Heathrow, London Gatwick and Amsterdam Schiphol. 

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Notes to editors

About Hong Fok Corporation Limited
The developer, Hong Fok Corporation Limited, is a publicly-listed company whose subsidiaries are primarily engaged in property investment, property development and construction, property management, investment trading and investment holding and management. International Building and The Concourse are the main commercial properties in Singapore owned by its subsidiaries. 

About Jones Lang LaSalle’s Hotels & Hospitality Group 
Jones Lang LaSalle’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centers; mixed-use developments and other hospitality properties. The firm’s more than 265 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totaling nearly US$25 billion, while also completing approximately 4,000 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.

For more news, videos and research from Jones Lang LaSalle’s Hotels & Hospitality Group, please visit: or download the Hotels & Hospitality Group’s app from the App Store. 

YOTEL was created by YO! founder Simon Woodroffe and YOTEL CEO Gerard Greene. Inspired by first class travel, they have translated the language of luxury airline travel and Japanese influence into a small but luxurious cabin.  YOTEL’s first city centre location 2 blocks from Times Square at 10th Avenue and West 42nd Street features 669 stylish cabins and is home to ‘YOBOT’ , the world’s first robotic luggage concierge, and ‘FOUR’ with 20,000 sqft of flexible entertainment space including New York’s largest hotel outdoor terrace space. YOTEL New York received its LEED “Gold” Rating from the U.S. Green Building Council in 2012, signifying the hotel’s dedication to environmental initiatives. 

YOTEL also currently operates three terminal airport properties at London Heathrow, London Gatwick and Amsterdam Schiphol. The unique ‘in-terminal’ hotels are located minutes from departures and arrivals, are bookable by the hour for a few hours or an overnight stay. Ideal for guests to freshen up on arrival, spend a long transit or to stay the night before an early flight. 

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 25,100 employees operating in 76 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was named the number one real estate advisory firm in Asia Pacific in the Euromoney Real Estate Awards 2012.  

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