YOO Worldwide has been named as one of the world’s leading branded residence companies, taking its place at the top table of this fast-growing sector, alongside – and even ahead of – many of the hospitality industry’s biggest names.
In its latest research article, “The Rise and Rise of Branded Residences”, Savills has revealed that YOO is currently the second largest player in the global branded residence sector, behind only Marriott International. This puts YOO above multinational giants like AccorHotels and InterContinental Hotels Group (IHG).
Looking ahead, Savills forecasts that YOO will remain in the top three providers by 2024, based on its existing portfolio and announced pipeline. This means that over the next five years, YOO will continue to accelerate its global development at a faster pace than companies like IHG, Hyatt and Four Seasons.
Even more impressively, Savills recognised YOO as “the largest single player in the market” as an individual brand, both in terms of its footprint and number of units. It is also expected to stay in second place by 2024, showing how the designer residence specialist continues to punch well above its weight in this dynamic and highly competitive market.
“Savills’ report is fantastic reflection of our elevated status in the branded residence sector. YOO is proud to be leader in our field, rubbing shoulders with many of the industry’s biggest names. What sets us apart from our more famous competitors however, is our personalised approach. While we are a truly international company, the exclusivity of our projects and our close relations with partners and clients continues to underpin our success,” said Rich Millar, YOO Worldwide’s Vice President of Business Development – Asia Pacific.
“By partnering with design icons such as Philippe Starck, Marcel Wanders, Jade Jagger, Steve Leung, Sussanne Khan, as well as with the experts from our own YOO Studio, we aim to add value and visibility to our partners and their developments. In future, we will continue to raise the bar for branded residences, creating an outstanding collection of projects that rise above the competition,” he added.
Asia is a key area of focus, both for YOO and the industry as a whole. According to the Savills report, the Asia Pacific region – led by Thailand and Vietnam – currently has the most projects in the pipeline, accounting for 23 percent of the global total. This is reflected by YOO’s own strategy; the company recently established its Southeast Asian headquarters in Bangkok and has revealed significant regional expansion plans.
YOO, which currently has a collection of 81 projects in 36 countries, is now planning to introduce its “out of the box” concepts and design-led services to key markets like Vietnam, Thailand, Indonesia and Malaysia, as well as other up-and-coming countries like Cambodia and the Philippines.
The group is working with Sansiri, Thailand’s leading developer of luxury and ultra-luxury real estate, and this year will launch the Khun by Yoo inspired by Philippe Starck condominium project. It has also partnered with ONYX Hospitality Group, creating opportunities for hotel projects under two distinctive brands, YOO Collection and Yoo2.