EZH Easyhotel Plc

TIDMEZH

RNS Number : 3504K

easyHotel PLC

16 April 2015

16 April 2015

easyHotel plc

("easyHotel", the "Group")

Acquisition of building in Liverpool

easyHotel, the owner, developer, operator and franchisor of "super budget" branded hotels, is pleased to announce it has acquired a freehold office and restaurant at 47 Castle Street, Liverpool, where it intends to convert the offices to an easyHotel.

The property is located in the centre of Liverpool, three minutes' walk from the Liverpool One shopping area and the Cavern Club tourist attraction, around 10 minutes' walk from Liverpool's main railway station and is also conveniently placed for visitors to Albert Docks' galleries, shops and restaurants.

Subject to obtaining planning consent, the Group plans to convert the four upper floors of the building into a 68-bedroom easyHotel, which is expected to open in Spring 2016. The ground floor of the building will remain a restaurant operated by a third party. In total, the purchase of the building and conversion project is expected to cost around GBP3m.

Simon Champion, Chief Executive Officer, commented:

"This acquisition in the centre of Liverpool is fully in line with our strategy to expand our owned hotel portfolio into targeted major UK cities. It provides us with the opportunity to create a centrally located hotel for leisure and business customers looking for good quality accommodation at an affordable price.

Liverpool has substantial inbound tourism, with over half a million visitors per annum, aided by recent inward investment and one of the UK's busiest airports. This combined with domestic demand means it is an attractive location for an easyHotel. "

Enquiries:

easyHotel plc www.easyhotel.com

Jan Astrand (Chairman)

Simon Champion (Chief Executive Officer)

Investec Bank plc (NOMAD and Broker) +44 (0) 20 7597 4000

Chris Treneman

David Anderson

Hudson Sandler (Financial PR) +44 (0) 20 7796 4133

Michael Sandler

Wendy Baker

Notes to Editors:

Information on easyHotel:

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. easyHotel currently has three owned hotels comprising 390 rooms, and a further 17 franchised hotels with approximately 1,400 rooms.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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