easyHotel PLC easyHotel Brussels update (1846D)

TIDMEZH

RNS Number : 1846D

easyHotel PLC

23 October 2015

easyHotel plc

easyHotel Brussels update

easyHotel plc ("easyHotel" or the "Group") (AIM:EZH), the owner, developer, operator and franchisor of "super budget" branded hotels, today announces that further to the announcement on 7 October 2015, the Group's Benelux franchisee has secured financing for the proposed 107 room easyHotel Brussels project and, as a consequence, the Group has received repayment of its EUR3.3 million security deposit and has been entirely released from any future step-in obligation. The hotel is expected to be opened by early 2017 as the first easyHotel in Belgium.

Guy Parsons, Chief Executive, said:

"This is an exciting opportunity for easyHotel as it gives the brand a strong position in the highly concentrated Brussels hotel market. I am pleased that our Benelux franchisee has secured this financing and the hotel will be a great addition to the easyHotel network."

Enquiries:

 
 easyHotel Plc                   www.easyhotel.com 
 Guy Parsons, Chief Executive    http://ir.easyhotel.com 
 Marc Vieilledent, Chief 
  Financial Officer 
 
 Investec (Nominated Adviser 
  and Broker)                    +44 (0) 20 7597 4000 
 Chris Treneman / David 
  Anderson 
 
 Hudson Sandler (Financial 
  PR)                            +44 (0) 20 7796 4133 
 Michael Sandler / Wendy 
  Baker / Emily Dillon

Notes to Editors:

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 18 franchised hotels with approximately 1,500 rooms.

Owned hotels: Old Street (London), Glasgow, Croydon

Franchise locations: Bulgaria (Sofia), Czech Republic (Prague), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam, Rotterdam, The Hague), Switzerland (Basel, Zurich), UAE (Dubai), UK (Edinburgh, London)

This information is provided by RNS

The company news service from the London Stock Exchange

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October 23, 2015 02:00 ET (06:00 GMT)

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