TIDMEZH
RNS Number : 6160B
easyHotel PLC
24 September 2018
24 September 2018
easyHotel plc
easyHotel plc
("easyHotel", the "Group" or the "Company")
Openings Update &
Conditional acquisition of a prime Blackpool site for
purpose-built 103-room hotel
easyHotel plc, the owner, developer and operator of super budget
branded hotels, announces that it has opened three further owned
hotels (Leeds, Sheffield and Barcelona) as well as two franchised
hotels (Reading and Belfast). This takes the total number of owned
rooms open to 1,130 with a further 1,938 franchise rooms now open.
All five hotels are trading strongly and in line with management
expectations.
The Group also announces that it has conditionally acquired a
999-year lease on a site at 429 The Promenade, Blackpool, to
develop a purpose-built 103-room easyHotel, subject to receiving
planning permission.
Located on the city's iconic Promenade, the site is ideally
situated, less than 500 metres from Blackpool South Station, in the
heart of the premier seaside resort, in the North of England.
With more than 10 million visitors per year, Blackpool is famous
for its year-round entertainment. Headline tourist attractions
include The Illuminations, Blackpool Tower, The Winter Gardens
(which plays host to party conferences, international darts and
ballroom dancing events amongst others), The Pleasure Beach (home
to the UK's largest roller coaster), Blackpool Sands and Blackpool
Zoo.
The Blackpool accommodation market is famously dominated by
small unbranded hotels and B&Bs, 93% of which have no quality
grading. This creates an opportunity for easyHotel to deliver a
guaranteed standard of accommodation to those visiting
Blackpool.
The site will be developed for a purpose-built hotel and two A3
units for restaurants or cafes on the ground floor, which are
expected to be sold once the development has completed, and the
units have been let. The hotel is expected to open during the
Group's 2020/21 financial year. The total forecast (net) cost of
acquisition and construction will be GBP7.6 million.
Commenting, Guy Parsons, CEO of easyHotel plc, said:
"The five hotels that we have recently opened have traded
strongly from day one and we are delighted with the positive
customer reaction to our stylish new brand format.
"I am also pleased to announce our intention to open an
easyHotel in Blackpool, Britain's most famous seaside resort.
Blackpool is a prosperous and lively city and is hugely popular
with UK and international visitors. Once open, easyHotel will make
a major contribution to the local hospitality trade. Our
super-budget offer will enable visitors to have affordable,
comfortable, stylish accommodation at the heart of Britain's
seaside culture and keep money in their purses and wallets to spend
on local attractions."
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 ten owned hotels currently comprise 1,130 rooms, and
it has a further 23 franchised hotels with 1,938 rooms.
Owned hotels:
United Kingdom: Old Street (London), Glasgow, Croydon,
Birmingham, Manchester, Liverpool, Newcastle*, Leeds,
Sheffield.
Spain: Barcelona
Franchise locations:
United Kingdom: Edinburgh, London Heathrow, Central London,
Luton, Reading and Belfast.
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, Milton Keynes, Chester, Cardiff.
Subject to planning consent: Oxford*, Cambridge*, Blackpool
Europe: Ireland (Dublin).
Franchise hotels:
Europe: Germany (Bernkastel-Kues), Portugal (Lisbon), Spain
(Malaga), Switzerland (Zurich, Basel)
International: Iran, Sri Lanka, Turkey (Istanbul), UAE
(Dubai).
*Hotels under an operating lease.
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END
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