NEW YORK CITY—Budget hotel chain Yotel said Tuesday it planned to expand by 3,000 keys over the next three years, targeting key city centers and international airports in Asia, Europe and North America. In the pipeline are Yotel hotels in Singapore, Paris, Miami, San Francisco and a second property in New York City. 

“Since the opening of our first hotel in 2006, Yotel has accommodated over one million visitors and collected invaluable insight on both our guests' expectations and our investors' requirements,” says CEO Hubert Viriot. Now, he adds, the brand has “the solid foundation and proven track record to expand globally.”

With a concept derived from the Japanese capsule-hotel format and initially aimed at international travelers at airport terminals, Yotel brought its “affordable luxury” model to urban centers with the 2011 of the 669-key Yotel Times Square, developed by the Related Cos.as part of the MIMA complex. Next up in the US are locations in Miami, the Williamsburg section of Brooklyn and San Francisco's Mid-Market neighborhood. 

In addition to opening in these three cities, Yotel is in advanced negotiations to operate new properties in Boston, Atlanta, Austin, Chicago, Los Angeles, Seattle and Toronto. Outside North America, the company is actively pursuing opportunities in Europe and Asia Pacific, in particular Dubai, London, Milan, Barcelona, Sydney and Hong Kong.

Its next European location and fourth airport hotel is slated to open at Charles de Gaulle Airport in Paris in 2016. The following year, the first Asian Yotel will open in Singapore.

“One third of the company's future growth is anticipated to take place within airport locations, with the other two-thirds planned for city centers,” says chief development officer Jason Brown. “We primarily operate through long-term management contracts, but we can also entertain alternative deal structures such as leases, particularly in airport environments.” The company prefers “to remain asset light, investing in our operating capabilities and regional platforms to deliver unique experiences to our guests and superior returns to our owners.” Kuwait-based IFA Hotels & Resorts KSCC is a major investor.