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easyHotel PLC  -  EZH   

Master Development Agreements Iran and Sri Lanka

Released 07:00 17-Jul-2017

RNS Number : 1783L
easyHotel PLC
17 July 2017
 

 

 

17 July 2017

easyHotel plc

easyHotel plc

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

 

Master Development Agreements in Iran and Sri Lanka

 

easyHotel, the owner, developer and operator of "super budget" branded hotels, announces that it has signed two Master Development Agreements with 3SV Limited and MHA Hatfield Limited, a respected property developer, to develop the easyHotel brand across multiple sites in Iran and Sri Lanka respectively.

The Iranian Tourism industry has seen significant growth in recent years with the Government outlining ambitious plans to attract more than 20 million tourists by 2025. The agreement for Iran is anticipated to deliver more than 500 new easyHotel rooms in the country.

The agreement for Sri Lanka is anticipated to deliver more than 200 rooms in the country, 100 of which are expected to be open by 2022. Sri Lanka has a well-established and growing tourism industry with over 2 million visitors in 2016.

In both territories, the new easyHotels are expected to comprise new purpose-built hotels and conversions of existing hotels and/or office buildings.

These agreements take easyHotel's pipeline of franchise rooms under development to 1,936 rooms, in addition to the 781 rooms being developed as owned projects.

 

Commenting, Guy Parsons, CEO of easyHotel plc said: "easyHotel has made good progress over the last year against its plans for the international expansion of the brand. I am pleased to announce a further extension of our franchise network, enabling us to establish the brand's presence in new territories where there is growing demand from cost conscious consumers for value hotel accommodation.

"The agreements announced today will add at least a further 700 rooms to our committed development pipeline enabling us to extend our network in these exciting new markets without direct capital investment, as we focus direct investment in our core markets of the UK and Europe."

 

Enquiries:

easyHotel plc

 

Guy Parsons, Chief Executive Officer

www.easyhotel.com

Marc Vieilledent, Chief Financial Officer

 

http://ir.easyhotel.com

Investec (Nominated Adviser and Broker)

+44 (0) 20 7597 5970

David Anderson

 

 

Houston PR (Financial PR)

+44 (0) 20 3701 7660

Hamish Thompson

 

Kate Hoare

 

 

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 five owned hotels currently comprise 590 rooms, and it has a further 20 franchised hotels with 1,750 rooms.

Owned hotels:

Old Street (London), Glasgow, Croydon, Birmingham, Manchester.

Franchise locations:

Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam: City, Arena & Zaandam, Rotterdam, The Hague), Switzerland (Basel, Zurich), UAE (Dubai), United Kingdom (Edinburgh, London Heathrow, Central London, Luton).

Hotel development pipeline

The Company's committed development pipeline of owned and franchised hotels currently consists of:

Owned hotels:

United Kingdom (Liverpool, Ipswich, Sheffield, Leeds), Spain (Barcelona) Subject to planning consent: United Kingdom (Oxford).

Franchise hotels:

UAE (Dubai), Germany (Bernkastel-Kues), Portugal (Lisbon), Turkey (Istanbul), Nepal (Kathmandu), UK (Belfast, Reading).

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Master Development Agreements Iran and Sri Lanka - RNS