Amsterdam-based serviced apartment investor and operator Yays has announced a European growth plan, with a mission to grow to 2000 units by 2023. The brand currently operates three properties in Amsterdam and one in Barcelona, with new openings confirmed in Amsterdam, Paris and Antwerp in 2019. Further, Yays also has plans for Benelux, France, Germany, Scandinavia, Spain and Switzerland, where they hope to acquire real estate and operate on a lease basis.
“Our concept is based on the slogan ‘unlock the neighbourhood’,” says Peter Heule, CEO of Yays. “The development team aims to secure urban locations outside the touristic city centre, but within easy reach of key businesses and leisure attractions.”
Positioning itself as a premium serviced apartment operator, the Dutch firm offers both business and leisure travellers the choice of studios, one-bedroom and two-bedroom apartments. All properties are staffed 24/7 with concierges recruited from the local neighbourhoods. The company also has experience in renovating heritage buildings, redeveloping offices and constructing newbuilds on greenfield sites.
“Yays is a ‘travel and stay’ concept that stands out within the serviced apartment segment,” Heule continues. “It offers its temporary residents the opportunity to experience the city as a local. With our ‘unlock the neighbourhood’ concept we keep in mind the fast-paced development of the city and the environment. With our restaurant around the corner and bar down the street, Yays supports local businesses.”
To spearhead its European expansion and target the continent’s key gateway cities, Yays has established an Amsterdam-based development team that includes Chalana Perera and Joris Tensen, who have worked in real estate development for citizenM Hotels and Zoku respectively. Perera and Tensen bring with them experience in developing new and innovative hospitality brands in competitive European markets, and recognise the opportunity to develop premium serviced apartments in the region.