TIDMEZH
RNS Number : 3876F
easyHotel PLC
29 October 2018
29 October 2018
easyHotel plc
easyHotel plc
("easyHotel", the "Group" or the "Company")
easyHotel acquires Bristol freehold site for new 145-room
hotel
and receives planning permission approval for 180-room Oxford
hotel
easyHotel plc, the owner, developer and operator of "super
budget" branded hotels, today announces that it has acquired a
central freehold site in Bristol where it expects to develop a
145-bedroom freehold easyHotel, subject to planning permission.
Located on West Street opposite the Cabot Circus shopping
centre, just 0.5 miles from Bristol Temple Meads station, the site
is close to Bristol city centre with its excellent range of shops,
restaurants and local attractions. Known for its shipping and
trading heritage, the city's modern economy is built on the
creative media, electronics, aerospace and financial services
industries with the original city-centre docks having been
redeveloped into a popular centre for heritage, leisure and
culture. Bristol is home to two universities with the wider
district boasting the 10(th) largest population in England.
The company will develop the site for the purpose-built
easyHotel which, subject to planning consent, is expected to open
in 2020. The total forecast cost of acquisition and construction
will be approximately GBP12 million.
The Group is also pleased to confirm that planning permission
has been granted for the development of its new purpose-built
180-room hotel in Oxford. The Group announced on 21 June 2017 that
it had secured a 25-year lease for the hotel which will be located
in Oxford's Summertown, a premium residential and shopping district
less than two miles from Oxford city centre and only half a mile
from Oxford's Ring Road. The hotel is being developed for the Group
as part of a mixed-use redevelopment which will include residential
and retail space as well as the new purpose-built easyHotel which
will occupy the upper floors of the building and is expected to
open in the second half of the 2020 calendar year.
Commenting, Guy Parsons, CEO of easyHotel plc, said:
"Our investment in Bristol, the fifth since our fundraising in
March marks the latest addition to our fast-growing portfolio of
comfortable, stylish and highly affordable hotels in key tourist
and business locations. The Group is also pleased to confirm that
planning approval for the new easyHotel Oxford has been granted.
Construction work is anticipated to start in the New Year.
"The Group continues to review a large number of investment
opportunities in both the UK and Europe and we look forward to
announcing further developments in due course."
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 ten owned hotels currently comprise 1,130 rooms, and
it has a further 24 franchised hotels with 2,039 rooms.
Owned hotels:
United Kingdom: Old Street (London), Glasgow, Croydon,
Birmingham, Manchester, Liverpool, Newcastle*, Leeds,
Sheffield.
Spain: Barcelona
Franchise locations:
United Kingdom: Edinburgh, London Heathrow, Central London,
Luton, Reading and Belfast.
Europe: Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin,
Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam: City,
Arena & Zaandam, Rotterdam, The Hague, The Hague Scheveningen
Beach, Maastricht), Portugal (Lisbon), 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, Milton Keynes, Chester, Cardiff,
Oxford*. Subject to planning consent: Cambridge*, Blackpool,
Bristol
Europe: Ireland (Dublin).
Franchise hotels:
Europe: Germany (Bernkastel-Kues), Spain (Malaga), Switzerland
(Zurich, Basel), Netherlands (Amsterdam Schiphol Airport).
International: Iran, Sri Lanka, Turkey (Istanbul), UAE
(Dubai).
*Hotels under an operating lease.
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END
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