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Mr. Simon Woodroffe, Chairman and Founder of Y0! Everything analyzes in TravelDailyNews the new concept in the hotel industry, the YOTEL!
TravelDailyNews: What are your comments on this new project of your company?
Simon Woodroffe: YOTEL! has been a passion of mine ever since I came up with the idea five years ago while flying back to London on what were then, the first flat-bed first-class airline cabins. With Gerard Greene my partner and CEO, we are now realising that dream. It is fascinating that we had the opportunity to show our idea and product in Dubai.
TDN: What are the factors that will make it successful? Will this be only in airports?
S. W.: The Holy Grail of retail in its every form is to marry low cost with high luxury. To do this requires a quantum leap in thinking and that is what we have done with YOTEL!
TDN: Which countries do you think offer the right opportunities for expanding YOTEL! and why?
S. W.: We will learn a great deal from opening our first two YOTEL! hotels at London airports. There are airports in every country and passengers at every airport, wanting to catch a nap while in transit, or before a flight or after a flight, so the world is our opportunity. We certainly see a big opportunity in compact high rise cities but that adage of luxury and great value is desirable all over. We have already been approached to put YOTEL! hotels in work spaces, so the opportunities are endless. I am also looking forward to seeing the first YOTELS in space for which we have already held initial discussions. A YOTEL! is for anyone who seeks luxury at an affordable price. Our target market is people who are young at heart – that is a very wide audience.
TDN: How does the hotel industry respond to this new idea?
S. W.: The hotel industry is watching us. We like that. I am sure we will partner with others in time.
TDN: In what other sectors of the tourism industry are you going to expand the YO! concept?
S. W.: We are in fashion, we’re also opening a spa, developing YO! Homes and I have looked at travel, music and all sorts of retail experiences and was even approached for a funeral concept. Right now though, we are focussed on hotels.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
