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IFA partners with Capitas to build YOTEL branded hotels in Saudi Arabia

Kuwait's IFA Hotel Investments (IFA HI) has signed agreement with Capitas Group International (CGI) to develop YOTEL branded hotels across Saudi Arabia, Saudi Gazette has reported. IFA HI is the majority owner of YOTEL, a specialized international hospitality brand, headquartered in the UK. Under the terms of the deal, IFA HI will invest seed capital in the projects and asset-manage the hotels after development, while YOTEL will be the hotel operator. The YOTEL product will also be customised to local requirements in each market across the kingdom.