Tag: Hotel Expansion NewsView All Tags
Her name was Lola, she was an independent hotel before being picked up by King & Grove.
King & Grove Hotels have been on an acquisition spree since the beginning of the year, picking up the Hotel Wiliamsburg and The Hotel Chelsea as well as planning two hotels for downtown Los Angeles. (We're still trying to confirm if they have picked up The Versailles in Miami. So far, nothing is final.)
Now our deep throat hotel sources tell us King & Grove has added another NYC hotel to their stylish portfolio--Hotel Lola on 29th and Madison.
After starting off small in a couple of UK airports before moving onto a massive operation in Times Square, Yotel is now ready to take their stylish hotel rooms aka "cabins", mood lighting and lovable Yobot nationwide.
The company has partnered with The John Buck Company (as well as with IFA Hotels & Resorts and the Kuwait Real Estate Company) to raise $250 million discretionary private equity fund with the goal of acquiring and developing more than $650 million worth of Yotels in North America over the next three to five years.
Cutting through all that mumbo-jumbo, this simply means: there are more Yotels coming including plans for a Yotel Boston and a Yotel Chicago. Ohhhh yeaaahhh.