Yotel to open pod hotel at Related site

New York /
Mar.March 01, 2010 10:03 AM

From the creators of European airport “pod” hotels comes what could be the city’s largest hotel opening next year. Yotel, which launched three years ago by offering four-hour hotel stays to business travelers, is opening a 669-room hotel on 42nd Street and 10th Avenue. The 25-story tower, at the site of the Related Companies’ $800 million West Side residential complex, will cater to a somewhat less transient crowd. Not to be confused with the Pod Hotel at 230 East 51st Street, which caters to a younger clientele with bunk beds offered up for less than $100 per night, rooms at the new Yotel will be twice the size of Yotel’s airport pods and will cost between $200 and $250 per night. Yotel partners Simon Woodroffe and Gerard Greene said longer-term hotels have always been in their plans — their $285 million deal with Related was signed more than two years ago — but they’ve made mistakes, particularly in construction, as their company has grown. They said New York’s Yotel, which was designed by Rockwell and is already half-built, will cost £20,000 — around $27,054 — per room to build. IFA Hotels & Resorts backed the project and Woodroffe and Greene said their investment will have paid off within six to seven years’ time. [Financial Times]


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
135-25 Northern Boulevard and 300 West 30th Street (Google Maps, Studio C Architects)
Self-storage company buys dev site from Home Depot
Self-storage company buys dev site from Home Depot
The Watson Hotel at 440 West 57th Street (Google Maps)
Developers already eyeing commercial-to-resi conversions
Developers already eyeing commercial-to-resi conversions
Photo illustration of Brookfield Property Partners’ Brian Kingston (Brookfield, iStock)
Struggling hotel company handing Brookfield the keys
Struggling hotel company handing Brookfield the keys
Rob Gronkowski and 35 Hudson Yards (Getty, SOM)
Rob Gronkowski buys Hudson Yards home for $7M
Rob Gronkowski buys Hudson Yards home for $7M
Rendering of H Hotel, slated for 58 West 39th Street (Peter Poon Architects)
Heavy hangover: Air rights purchased for massive cantilever
Heavy hangover: Air rights purchased for massive cantilever
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...