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easyHotel PLC  -  EZH   

Franchise Development Update

Released 07:00 22-Mar-2018

RNS Number : 5119I
easyHotel PLC
22 March 2018
 

 

 

22 March 2018

easyHotel plc

easyHotel plc

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

 

Franchise Development Update

 

easyHotel, the owner, developer and operator of super budget branded hotels announces that it has signed a franchise agreement with Continuum Hospitality Group for the development of a 146-room hotel in Malaga, Spain

The hotel is centrally located in the popular port city of Malaga, less than 5 minutes walk from the cruise terminal and just 200m from Malaga high-speed train station. The city welcomed more than 1.2 million tourists in 2016 with tourism arrivals having grown by 6.7% on average every year since 2009. International tourism has been a key driver behind tourism growth in Malaga and represents more than half of the total visitors to the city.

The hotel will be developed and subsequently managed by Continuum Hospitality Group, backed by investor Extendam and is scheduled to open in 2019. easyHotel Malaga will be the Group's second hotel now under development in Spain. The Group's owned hotel in Barcelona is due to open in Summer 2018.

The Group is also pleased to confirm the opening of its new franchise hotel in the Netherlands. The 87-room easyHotel has now opened at The Hague Scheveningen Beach, one of Holland's most popular seaside resorts.

Commenting, Guy Parsons, CEO of easyHotel plc, said:

"We continue to expand our franchise portfolio in key international destinations and I am delighted that we are strengthening our presence in both of these important European tourist resorts, working alongside highly experienced partners.

"These additions will take our franchise portfolio to 1,728 rooms opened with 1,857 under development and the Board looks forward to announcing further opportunities in due course."

Commenting, Anna Cohen and Matthieu Dracs of Extendam, said:

"We are delighted to be working with easyHotel at this exciting time in their development. The brand offers Malaga's visitors comfortable accommodation at highly affordable prices and we look forward to working together to develop their first hotel in this popular tourist destination."

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

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 seven owned hotels currently comprise 702 rooms, and it has a further 20 franchised hotels with 1,728 rooms.

Owned hotels:

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

Franchise locations:

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

Franchise hotels:

UAE (Dubai), Germany (Bernkastel-Kues), Portugal (Lisbon), Turkey (Istanbul), UK (Belfast, Reading), Iran, Sri Lanka, Netherlands (Maastricht), Spain (Malaga).

*Hotels under an operating lease.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Franchise Development Update - RNS