YAYS Group expands into Spain and Germany

Innovative serviced apartment design optimises Return On Investment on property

YAYS Group, the leading provider of serviced apartmentsin the leisure and business sector, will open its first location in Spain (Madrid) at the end of this year. YAYS already operates in Benelux and France (Paris), and in addition to Spain, YAYS Scheveningen is scheduled to open in 2024. They also expect to open a first location in one of the major cities in Germany in 2024. "As with the project in Scheveningen, we see great opportunities in these markets for the transformation of office buildings, we have specifically introduced an innovative design for this," said Head of Development, Joris Tensen.

YAYS in the heart of Madrid in 2023

The project in the heart of Madrid - in collaboration with property developer Monthisa - will open in late 2023 under the name Madrid Puerta del Sol by YAYS; a building including a roof terrace, centrally located between Gran Vía and Puerta del Sol square, in the busiest shopping and pedestrian area of the city, close to the Royal Palace. Here, spacious flats of different living areas will be realised, with fully equipped kitchens and - as always at YAYS - a clear emphasis on design. Target groups include both business and leisure travellers seeking a comfortable place for themselves for a few days, weeks or months. 

First YAYS Germany in 2024

To quickly gain a foothold in Germany, YAYS has opened its own office and a local development manager appointed to accelerate the signing of leases. YAYS aims to close deals with strategic real estate partners for prime locations in key cities. Currently, the brand is in exclusive negotiations for several locations in Frankfurt and Berlin, among others. The first YAYS Germany location, according to CEO Zachary Schwartz, can be expected in 2024: "the efficient and freely divisible YAYS 2.0 design concept will deliver greater returns per square metre." Schwartz also expects that this innovative approach will appeal to developers to use YAYS to improve the Return on investment (ROI) on projects.

High returns, high ratings

In summer 2022, YAYS saw revenue per flat increase by 20 per cent compared to summer 2019. The flats at Belgium's first YAYS location in Antwerp ranked No 1 in guest reviews on popular booking platforms just a few months after opening. Together with YAYS The Hague Willemspark, another location with fantastic ratings and reviews, YAYS Antwerp Opera tops the list on sites like Booking.com, Google, Expedia and Airbnb. A position also targeted with the transformation of the project in Scheveningen, a collaboration with investor and developer RE:BORN, where 66 flats with the YAYS 2.0 design will be realised.

More return than a hotel room

Joris Tensen predicts strong growth because serviced apartments can provide better returns than hotel rooms, as reports from commercial property consultant Savills also show. "We see significant opportunities with our 2.0 design concept, we expect to continue growing with it in the coming years in the major capital cities, international destinations and other strategic markets." Says Tensen.