EZH Easyhotel Plc

TIDMEZH

RNS Number : 3731U

easyHotel PLC

12 July 2018

12 July 2018

easyHotel plc

easyHotel plc

("easyHotel", the "Group" or the "Company")

Milton Keynes and Chester Acquisition Update

easyHotel plc, the owner, developer and operator of "super budget" branded hotels, is pleased to confirm the completion on the acquisition of Milton Keynes and the purchase of the site for the Chester development.

The Group announced on 26 January 2018 the acquisition of a 125-year leasehold site in Milton Keynes. Planning permission for a 124-bedroom hotel has now been granted and the conversion works for the central site, which forms part of Norfolk House on Silbury Boulevard, has begun. The hotel is anticipated to open in 2019.

The Group announced on 11(th) April 2018 the acquisition of a 109-bedroom hotel in Chester. The hotel is being delivered to easyHotel as a turnkey development, and the acquisition of the site represents the first stage of the hotel development which should also open in 2019.

easyHotel Maastricht opened at the beginning of July taking the total number of hotels in the Group to 28.

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 seven owned hotels currently comprise 702 rooms, and it has a further 21 franchised hotels with 1,803 rooms.

Owned hotels:

United Kingdom: Old Street (London), Glasgow, Croydon, Birmingham, Manchester, Liverpool, Newcastle*.

Franchise locations:

United Kingdom: Edinburgh, London Heathrow, Central London, Luton.

Europe: Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam: City, Arena & Zaandam, Rotterdam, The Hague, The Hague Scheveningen Beach, Maastricht), 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, Sheffield, Leeds, Milton Keynes, Chester. Subject to planning consent: Cardiff, Oxford*, Cambridge*.

Europe: Spain (Barcelona).

Franchise hotels:

United Kingdom: UK (Belfast, Reading)

Europe: Germany (Bernkastel-Kues), Portugal (Lisbon), Spain (Malaga)

International: Iran, Sri Lanka, Turkey (Istanbul), UAE (Dubai).

*Hotels under an operating lease.

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.

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