THE NETHERLANDS: YAYS Group, a leading serviced apartment operator in Europe is to expand amid strong results.
The Group has reported a strong bounce back, with growth larger than pre-pandemic levels. Revenue per apartment (RevPAR) results were up 20 per cent between June and August, compared to the same period in 2019 (before the pandemic).
The Group is now looking at expanding to Germany as its entire development team heads to EXPO REAL in Munich, this month, where the go-ahead is given for new ventures in the country. This forms part of YAYS’ growth plans, which seek to expand the large, existing YAYS portfolio in Benelux and France to other countries in Europe.
Frederik Van den Abeele, COO YAYS Group says: “These are extraordinary times for the YAYS Group; The efforts of our entire team are resulting in great performances throughout our portfolio. In guest satisfaction and commercially our YAYS properties are at the top of the markets in which we operate. Our latest openings in The Hague and Antwerp have been well received by leisure guests, the relocation community, and corporate travellers. The pandemic has given us the opportunity to upgrade our systems, improve our processes and perhaps most importantly organise our great YAYS team around our strategic objectives. Our platform is ready for growth and we are confident and excited about the future. The best is yet to come.”
The growth this summer suggests that city breaks are on the up again, following the mass exodus from the urban environment during the pandemic. The Group said its recent Antwerp opening has been a hit with YAYS Antwerp Opera ranking number 1 in guest reviews on popular booking platforms like Booking.com, Google, Expedia and Airbnb, alongside its sister property YAYS The Hague Willemspark.
Zachary Schwartz, CEO YAYS Group said: “More and more people are seeking an authentic and sustainable experience and the opportunities to ‘work from home’ in a different location. Having your own space and comfort are as important as learning about the place where you stay, connecting with locals, discovering unfamiliar places and making a positive contribution on a local level. YAYS serviced apartments are located in city neighbourhoods with their own story and identity. Business and leisure guests alike get assistance from enthusiastic YAYS Insiders on how to live like a local. In every way, it is an enriching experience for travellers, Insiders, local residents, local entrepreneurs and the city itself.”
YAYS will be adding to its portfolio in The Hague with a second property. The Group teamed up with RE: BORN Real Estate in June and is currently converting an old office building on the Gevers Deynootweg in Scheveningen.
YAYS Group is a leading serviced apartment operator in Europe, which manages 16 distinct properties across Benelux and France together with a growing pipeline. The Group’s award-winning, brand platform includes YAYS (fully serviced aparthotels) and by YAYS (self-serviced apartments). Through technology, design and sustainability, YAYS is actively adapting to changing guest needs and re-invent post-pandemic travel.
