YOTEL has appointed Phil Andreopoulos as its new Chief Executive Officer, following an increase in its majority shareholder Al-Bahar Group’s stake to more than 95%. The investment reflects the Group's confidence in YOTEL and supports its aim to double its global portfolio to 15,000 rooms by 2030.
Talal Al Bahar, Chairman of YOTEL and Al-Bahar Group, said: "YOTEL's success over the last 15 years has been exemplary, from start-up concept into the global company it is today with an expansive portfolio of properties in prime locations. Now, it is time to scale the business further. Phil Andreopoulos brings a wealth of commercial and operational experience and under his leadership, YOTEL will enhance its distribution, direct business contribution and loyalty proposition. He will also drive expansion of both the managed and franchise businesses in key markets."
Al Bahar also thanked former CEO Hubert Viriot: "I would like to personally thank Hubert Viriot for his instrumental role in driving YOTEL's growth. We are delighted to welcome him as Vice Chairman, where his experience and vision will continue to add significant value to the company and its stakeholders."
Andreopoulos joins YOTEL from Marriott International, where he held senior roles across Europe, the Middle East, and Africa. He said: "I'm thrilled to join YOTEL at such a pivotal moment in its growth. The pioneering concept and global footprint mean YOTEL's global recognition supersedes its size and that, paired with the agility of being independent, creates a unique opportunity to scale quickly and offer owners, investors and franchisees the speed and innovation they crave in the industry. I look forward to working alongside the talented YOTEL team and the Board to build on the company's strong foundation, expand our global presence and continue delivering unforgettable experiences for travellers around the world."
Earlier this year, Yvonne Thomsen joined YOTEL as Chief Financial Officer from IHG. The appointments of Andreopoulos and Thomsen mark a strategic leadership evolution for the brand.