TIDMEZH
RNS Number : 5349D
easyHotel PLC
20 February 2020
20 February 2020
easyHotel plc
easyHotel plc
("easyHotel", "the Group" or "the Company")
easyHotel acquires Madrid freehold site for new 230-room
hotel
easyHotel plc, the owner, developer and operator of "super
budget" hotels, today announces it has acquired a freehold site in
Madrid, Spain, where it plans to develop a 230-bedroom easyHotel.
The new premises will be easyHotel's second owned hotel in Spain as
the business seeks to expand in major European cities.
Located on Mendez Alvaro, one of central Madrid's busiest
avenues, the site has excellent transport links including being
only 10 minutes' walk to Atocha, Madrid's main high-speed rail
station, and less than 200m from the nearest metro. The area is
home to significant commercial and residential development projects
which are expected to attract large numbers of visitors to the
area.
Madrid is the capital and most populated city in Spain and is a
leading economic hub in Southern Europe. It hosts the head offices
of many of the country's biggest companies as well as the Spanish
government and is home to two world-renowned football clubs. The
city is also a popular destination for tourists, attracting 9m
visitors each year of which 51% are international visitors.
The Group will develop the site for the purpose-built easyHotel
which is expected to open in the 2021/22 financial year. The total
forecast cost of acquisition and construction is expected to be in
the region of EUR28m.
Commenting, Scott Christie, Interim Chief Executive Officer at
easyHotel, said:
"Our new investment in Spain marks the latest step in our
strategy to expand our owned hotel network across centrally
located, high quality sites in major European cities. Madrid is an
iconic destination with numerous attractions for both tourist and
business travellers, and we are confident our super budget offering
will resonate with visitors keen to experience Spain's capital.
"The Group continues to make good progress towards securing
sites in its target destinations and we look forward to announcing
further developments in due course."
ENDS
Enquiries:
easyHotel plc
Scott Christie, Interim Chief www.easyhotel.com
Executive Officer
Harm Meijer, Non-executive Chairman http://ir.easyhotel.com
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*), Spain (Madrid)
Franchise hotels:
Europe: Spain (Malaga), Switzerland (Zurich, Basel).
*Hotels under an operating lease.
(#) Subject to planning permission.
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END
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