keyboard_arrow_down Frequently asked questions
YOTEL is leading a revolution in the hotel industry, offering smartly designed rooms and inspiring communal spaces in incredible locations at an affordable price. Inspired in equal measure by Japanese “pod hotels” and the ergonomic principles of first-class airline travel, YOTEL opened its first two hotels in 2007 at London Gatwick and London Heathrow Airports. As of March 2019, YOTEL has six airport hotels (London Gatwick, London Heathrow, Amsterdam Schiphol, Paris Charles de Gaulle, and Istanbul Airport landside and airside) as well as city-centre hotels in Manhattan, Boston, San Francisco and Singapore, as well as an affiliate hotel in Washington DC. By the end of 2019, YOTEL will manage a further six properties, including London and Edinburgh.
YOTEL’s main investors include the Al-Bahar Group, Starwood Capital Group, United Investment Portugal, and Kuwait Real Estate Company (AQARAT).
As the only management company to have an on-site presence at YOTELPAD Park City, we offer owners “worry-free” rental management program. Resort management is a specialist field, and YOTEL provides full service management so that PAD owners need not worry about:
- Unpaid collections
- Collection and remittance of business and occupancy taxes
- Accounts services
- Operator Insurance to cover third-party rental
- Repairs and recovery of the costs from renters for any in suite or common area damages directly related to a renter
- Early arrivals or late departures
- Guest cancellations and timely revenue management
- Emergency guest assistance
- Guest complaints and disruptions
- Housekeeping service on departure, including fresh bedlinen and bathroom towels.
- Cleaning and contractor management
- Scams, such as maximum occupancy per PAD or who contracts the online reservation vs who check in on arrival
YOTELPAD owners who participate in the rental management program with YOTEL can book a special rate of 25% off the Best Available Rate at all YOTEL hotels around the world (subject to availability; local terms and additions may also apply).
When YOTELPAD Park City opens in 2020, YOTEL will have 15 hotels in operation, from destinations as close as San Francisco to New York, Europe and as far as Dubai and Singapore.
YOTEL will provide PAD owners who participate in the rental management program:
- A dedicated, expert team providing regular communication and reports on your PAD’s performance
- YOTEL crew on site at YOTELPAD Park City, 24/7/365
- Property reports on the performance of your PAD
- Transparency on the performance of your PAD relative to other PADs managed by YOTEL
- Financial incentives when you refer group bookings
- Discounts in other YOTEL properties
Our award-winning hotels are loved by guests who are looking for a smart way to travel. Offering everything you need and nothing you don’t, YOTEL promises an uncompromising combination of
- Great locations
- Affordable pricing
- Smart, tech-savvy design
- Fun social spaces
- Switched-on, friendly service
Yes, you can rent out your PAD through a local management company or 3rd party. However, if you choose one of these routes:
- You cannot refer in advertising, sales or marketing materials to the YOTEL or YOTELPAD brands when renting your PAD
- You must arrange all insurance and liability to cover rental guests and 3rd parties
- You or your 3rd party will have to meet rental arrivals and arrange access to the PAD
- You or your 3rd party will need to collect all remittances, occupancy taxes and the cost of any add on services that rental guests use
Your rental guests will not be able to charge resort services and amenities to the PAD
PAD owners will have the option to renew or opt out of the rental management program on an annual basis.
The owner of the commercial space has entered into a master hotel agreement with YOTEL for multiple years to ensure stability, both for PAD owners and for the hotel operations at YOTELPAD Park City.
YOTEL has a team of expert specialists whose purpose is to maximise revenue opportunities across multiple distribution channels.
What does that mean for PAD owners who sign up for the YOTEL rental management program?
- Google-certified SEO (search-engine optimisation) experts ensure that YOTELPAD Park City ranks highly in searches for Park City as a destination
- YOTEL’s online booking engine integrates with all third-party online travel agents such as Booking.com, Expedia, TripAdvisor, VRBO and even Airbnb – meaning that your PAD is “always open” for rentals when it’s available
- International brand reach and recognition due to the expansion of YOTEL across North America, Europe, the Middle East and Asia
- YOTEL’s regionally based sales teams will work with domestic and international tour operators and event planners to generate business and optimize both high- and low-season demand
- Our Central Reservations services provide phone sales support 24/7/365
Our revenue management specialists review market trends and intelligence to maximise rentals and ensure consistent revenue growth, especially across seasonal cycles. This expertise is especially important during shoulder seasons and cannot be matched by independent or local management services.
We use accredited, industry-certified 3rd party reports to benchmark our rates against the local competitor set as well as to react and respond to trends in rental performance in Mammoth, both current and historic.
As part of our development of YOTELPAD Park City we engaged the services of Smith Travel Research (STR) – a source of premium global hospitality data, benchmarking, analytics, and marketplace insights. Over the last four years (2015-2018) the market in Park City has run at a year-round average occupancy of 60% with an annual average rate of $237 to $262 per night. We will use ongoing data and reports from STR to help maximize rentals. However, we are unable to provide prospective owners with revenue projections, which will vary according to the size of your PAD, the length of time you choose to reserve your PAD for personal use, and seasonal demand. None the less, we are confident that global distribution systems and expert revenue management team will deliver excellent returns.
PADs will be rented on a rotation system to ensure that rental opportunities within a given category are fair and equitable. Owners who participate in the YOTEL rental management program will receive regular reports on the performance of their PAD, and of YOTELPAD Park City in general.
As soon as YOTELPAD Park City opens, we will start to track and analyse data to ensure that we are maximising revenue opportunities. Our PADs have been designed with the Park City market in mind – which is to say that all PADs can sleep a minimum of four people. One-bedroom to three-bedroom PADs can sleep more than four and up to eight people and will likely command higher rental rates as a result.
The project unit mix includes:
Average Unit SF
Up to 6
Up to 6-8
Up to 8-10
Rental revenues will be split 60% of income to owners and 40% to YOTEL.
Owners will additionally be responsible for HOA (Homeowner Association) fees, property taxes, insurance, and ongoing repairs and maintenance (as a result of general wear and tear).
YOTEL will cover all staffing, housekeeping, and operating costs, and will follow up on any damage to PADs caused by rental guests.
Are there additional fees and costs that the owner needs to consider?
- HOA fees
- Property taxes
- Insurance of your PAD
- Ongoing repairs and maintenance
- Annual deep cleaning
We will ask you to set up an annual calendar, indicating when you plan to use your PAD so that your PAD is not rented when you want to stay there yourself. Please keep high and low seasons in mind, as periods of peak demand typically command premium rates. YOTEL will provide guidance on seasonal peaks and troughs to help owners plan their stays.
Our goal is to maximise rental revenues when your PAD is unoccupied. If you decide at the last minute that you would like to stay in your PAD, please contact YOTEL to check availability – if it is vacant, and you tell us in advance that you plan to stay then you can use your PAD at any time.
If you have signed up to the YOTEL rental management program you will be charged a cleaning fee on departure so that we can make your PAD ready for the next rental guest. In addition to this, exclusive to owners participating in the YOTELPAD rental program, owners can opt to have a la carte cleaning during stays in their unit.
The beauty of the YOTEL rental management program is that your rental guests will receive all the unique benefits of YOTELPAD Park City:
- Switched-on, friendly crew on property 24/7/365
- Housekeeping ahead of check in and on check out
- Laundry services and other amenities, charged to the PAD and settled on departure
Ahead of opening YOTELPAD Park City we will finalise details such as this – but we anticipate that owners will be issued a set number of key cards to their PAD. If you sign a management agreement with a local agent or decide to manage rentals yourself, you will need to ensure that keys are returned on departure.
Additional key cards can be cut for a fee.
As part of the YOTEL rental management program agreement, YOTEL will clean and inspect PADs on departure of rental guests – and rental guests will be responsible for the cost of any repairs to damage caused during their stay.
On an annual basis, YOTEL will work with owners to ensure that PADs are maintained to brand standards.
As an owner you are welcome to bring your own pet(s) – provided you leave your PAD in a state that it is ready for the next rental guest. At this time, we do not anticipate allowing pets in the rental of units, however we will continue to evaluate this with demand for pet stays to optimize rental opportunities.
PADs will have a small storage cabinet where you can keep smaller items for your personal use when staying in your PAD. Note, however, that we cannot guarantee you access to your PAD when it is occupied by rental guests.
The Homeowners Association (HOA) will own up to 104 2’x2’x7’ tall chain link locker storage units available to homeowner association members in good standing that the HOA will determine how to allocate to YOTELPAD Condo members and at a to be determined applicable monthly rental rate.
If your PAD is rented, you will only be able to park at YOTELPAD Park City and use the amenities if you rent another PAD.
Rental guests can enjoy all the services and amenities of YOTELPAD Park City when owners participate in the YOTEL rental management program. Owners benefit from the peace of mind in knowing that rental guests can talk to YOTEL crew on-property 24/7/365 to help them make the best of their stay and resolve any questions or concerns.
As part of the YOTEL rental management program, we will work to replace linens and supplies and to provide low-level maintenance as required. Larger upgrades will be planned well in advance of required changes, and you will be advised of how owners will need to work with YOTEL on such plans. While we do not anticipate a complete ref-fit of PADs, we anticipate a refresh every five years.
Additionally, YOTEL will inspect PADs on an annual basis to ensure that they meet brand standards.
YOTEL will keep public areas clean and tidy; maintenance such as painting public areas will be covered with the HOA fee.
- PADs cleaned after each guest rental (covered by YOTEL rental management program)
- PADs cleaned after Owner stays (you will be charged for this service)
- Annual deep clean of all PADs – at an additional cost
- Painting and decorating services as desired, or as required to meet YOTEL brand standards with consultation in advance with owners on anticipated costs for any upgrades.
If you would like to participate in the YOTEL rental management program, your unit must comply with brand standards to ensure uniform service standards. If you would like to change the furnishings in your PAD and you are participating in the YOTEL rental management program, you will need approval from YOTEL.
If you opt out of the rental management program, you can change the furnishings and décor – but remember:
- You cannot use the YOTEL or YOTELPAD name in any advertising or sales and marketing materials
- If at any point in the future you choose to join the YOTEL rental management program you will need to return the PAD to the current brand standards at your own expense.
The ultimate management of the HOA rests with the HOA Board for decisions on management of the common areas. The Developer will set up the initial Board for the first term until the first AGM is called to transition the Board to individual approved nominees.