TIDMEZH
RNS Number : 0865R
easyHotel PLC
24 October 2019
24 October 2019
easyHotel plc
easyHotel plc
("easyHotel", the "Group" or the "Company")
CORRECTION: DEVELOPMENT UPDATE
The following amendments have been made to the DEVELOPMENT
UPDATE RNS 7730Q released on 23 October 2019 at 7.00am, correcting
the name of the Group's Tel Aviv franchisee partner to Easymalon
Ltd (replacing R&N Services Ltd as previously notified).
All other details remain unchanged.
The full amended text is shown below.
23 October 2019
DEVELOPMENT UPDATE
The Board of easyHotel plc, the owner, developer and operator of
"super budget" branded hotels, is pleased to provide the following
development update.
Owned Hotel Development Pipeline
Paris Charles de Gaulle Airport, France
Further to the Company's announcement in December 2018, planning
permission for the development of the 209-room easyHotel
Paris-Charles de Gaulle Airport has now been granted.
The Group has secured an operating lease agreement with Groupe
ADP (developer and manager of airports worldwide, including the
three main airports in the Paris region). The hotel will be let on
a 24-year FRI (fully repairing and insuring) lease at an annual
rent of approximately EUR1.1 million.
The site is being developed by Linkcity Ile de France (a
subsidiary of Bouygues Construction) and construction works will
now begin imminently with the new hotel anticipated to open during
the 2020/21 financial year.
Franchise Hotel Development Pipeline
Derby, UK
The Group is pleased to confirm that it has signed a franchise
agreement with Ushba Ltd for the development of a new 110-room
hotel in Derby. Located close to the city centre and main transport
hubs of the city, the hotel is expected to open in 2021.
Tel Aviv, Israel
The Group has also signed a 20-year exclusive franchise
agreement with Easymalon Ltd to support the brand's development in
Tel Aviv, Israel. The agreement includes the development of three
initial hotels in prime locations across the city, totalling 667
rooms. The hotels are expected to open by late 2022.
Commenting, Guy Parsons, Chief Executive of easyHotel plc
said:
"I am pleased to report further progress against our strategy as
we continue to expand our network of super budget hotels in
city-centre locations, both in the UK and across international
markets.
"The board believes that the current economic uncertainties will
continue to present attractive investment opportunities for the
brand and we look forward to announcing further updates in due
course."
ENDS
Enquiries:
easyHotel plc
Guy Parsons, Chief Executive www.easyhotel.com
Officer
Gary Burton, Chief Financial http://ir.easyhotel.com
Officer
Investec (Nominated Adviser
and Broker) +44 (0) 20 7597 5970
David Anderson
Houston (Financial PR) +44 (0) 20 3701 7660
Kate Hoare / Laura Stewart
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 has an estate of 40 hotels with 3,759 rooms,
comprising 27 franchised hotels (2,332 rooms) and 13 owned hotels
(1,427 rooms).
Owned hotels:
United Kingdom: Old Street (London), Glasgow, Croydon,
Birmingham, Manchester, Liverpool, Newcastle*, Leeds, Sheffield,
Ipswich, Milton Keynes.
Spain: Barcelona
France: Nice
Franchise locations:
United Kingdom: Edinburgh, London Heathrow, Central London,
Luton, Reading and Belfast.
Europe: Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin,
Frankfurt, Bernkastel-Kues), Hungary (Budapest), The Netherlands
(Amsterdam: City, Arena & Zaandam, Amsterdam Schiphol Airport,
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: Chester, Cardiff, Oxford*, Blackpool, Cambridge*
and Bristol(#) .
Europe: Ireland (Dublin(#) ), France (Paris-Charles de Gaulle
Airport*).
Franchise hotels:
United Kingdom: Derby.
Europe: Spain (Malaga), Switzerland (Zurich, Basel), Israel
(Tel-Aviv).
*Hotels under an operating lease.
(#) Subject to planning permission.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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