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The local IFA Hotels & Resorts, a subsidiary of International Financial Advisors, has bought a majority stake in UK-based Yotel. The acquisition will finance the development of two hotels at London Gatwick and Heathrow airports, inside the terminal buildings. The Yotel concept provides capsule-style accommodation in 10.5-metre-square rooms targeted at business travellers. ‘We have plans to roll-out Yotel globally. [The concept] works best where there is massive demand for hotel accommodation and sites are limited, in unusual spaces where normal hotels cannot compete,’ says Patrick Smith, vice-president, asset management, at IFA Hotels & Resorts.