TIDMEZH
RNS Number : 2605X
easyHotel PLC
09 August 2018
9 August 2018
easyHotel plc
easyHotel plc
("easyHotel", the "Group" or the "Company")
Cardiff Acquisition and Franchise Development Pipeline
Update
easyHotel plc, the owner, developer and operator of "super
budget" branded hotels, is pleased to confirm the completion on the
acquisition of Cardiff, following the grant of planning permission
and announces a further 174 rooms (five hotels) under development
by its Swiss franchisee.
The Group announced on 30 October 2017 the acquisition of a
freehold site in Cardiff. Planning permission for a 120-bedroom
hotel has now been granted. Development work for the new
purpose-built site, which is located at Fitzalan Place, just 0.3
miles from Cardiff Queen Street Station will now begin and the
hotel is anticipated to open in the 2019/20 financial year.
The Group also confirms that it has signed an agreement for the
development of a further 174 rooms in Switzerland with four hotels
to be developed in Zurich and a further hotel in Basel. The hotels
are being developed by the Group's Swiss franchisee and are
anticipated to open over the course of the next 14 months.
easyHotel Belfast will open on 10(th) August, taking the total
number of hotels in the Group's portfolio to 29. With the addition
of the new hotels in Switzerland, the Group's development pipeline
currently includes 1,280 owned/lease rooms and a further 1,956
franchise rooms now under development.
Notes to Editors:
Enquiries:
easyHotel plc
Guy Parsons, Chief Executive www.easyhotel.com
Officer
Marc Vieilledent, Chief Financial http://ir.easyhotel.com
Officer
Investec (Nominated Adviser
and Broker) +44 (0) 20 7597 5970
David Anderson
Houston PR (Financial PR) +44 (0) 20 3701 7660
Kate Hoare / Hamish Thompson
Notes to Editors:
www.easyhotel.com http://ir.easyhotel.com
easyHotel is the owner, developer, operator and franchisor of
branded hotels. Its strategy is to target the super budget segment
of the hotel industry by marketing "clean, comfortable and safe"
hotel rooms to its customers.
Operating hotels
easyHotel's seven owned hotels currently comprise 702 rooms, and
it has a further 21 franchised hotels with 1,803 rooms.
Owned hotels:
United Kingdom: Old Street (London), Glasgow, Croydon,
Birmingham, Manchester, Liverpool, Newcastle*.
Franchise locations:
United Kingdom: Edinburgh, London Heathrow, Central London,
Luton.
Europe: Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin,
Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam: City,
Arena & Zaandam, Rotterdam, The Hague, The Hague Scheveningen
Beach, Maastricht), Switzerland (Basel, Zurich).
International: UAE (Dubai).
Hotel development pipeline
The Company's committed development pipeline of owned and
franchised hotels currently consists of:
Owned hotels:
United Kingdom: Ipswich, Sheffield, Leeds, Milton Keynes,
Chester, Cardiff. Subject to planning consent: Oxford*,
Cambridge*.
Europe: Spain (Barcelona), Ireland (Dublin).
Franchise hotels:
United Kingdom: UK (Belfast, Reading).
Europe: Germany (Bernkastel-Kues), Portugal (Lisbon), Spain
(Malaga), Switzerland (Zurich, Basel)
International: Iran, Sri Lanka, Turkey (Istanbul), UAE
(Dubai).
*Hotels under an operating lease.
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END
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