Yotel continues US expansion with Washington DC acquisition
Yotel has announced the acquisition of the Liaison Washington Capitol Hill hotel.
The deal will be financed by partners Metrovest Equities and BLDG Management.
The hotel group will operate the existing premises, which over the next year, will benefit from a full transformation and rebranding incorporating all of Yotel’s signature technology and adaptable design features, including smart cabins (rooms) and stunning multifunctional public spaces.
The hotel currently boasts a position as the closest hotel to the US Capitol Building, putting guests within walking distance to Washington DC’s most important attractions including: National Mall, Georgetown University Law Centre, Walter E. Convention Centre, prominent businesses and 100 embassies; and only three blocks away from Union Station.
“Our rapid global expansion is very exciting and further asserts our prominence in the US and on the world stage.
“We have a proven track record operating globally with hotels in many of the key feeder markets to Washington – Boston, New York, San Francisco and Europe.
“Expanding our portfolio of hotels in the US also allows for better economies of scale by running operations more efficiently and maximising cross-selling opportunities between all our properties,” commented Hubert Viriot, chief executive of Yotel.
“The acquisition of the Liaison Washington Capitol Hill by partners Metrovest and BLDG, furthermore introduces a new development strategy for Yotel to take over existing hotels and use our adaptable and innovative design, to tailor the experience to the modern traveller,” Viriot added.
Yotel will revamp the existing hotel and it is expected to open to guests from quarter one of 2020.
Washington DC is the eighth most popular destination in the US.
In 2017, a total of 22.8 million people visited with the figure forecast to reach 26.1 million by 2021, according to Destination DC.