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Easyhotel books profit rise as revenue doubles

Wed, 03rd Jun 2015 10:17

Budget hotels operator Easyhotel booked in higher interim pre-tax profits on Wednesday, with a doubling of revenue year-on-year driven primarily by an increase in the capacity of its hotel portfolio.Pre-tax profit rose 7% to £0.37m from £0.34m, while revenue rose to £2.6m from £1.3m in the same period last year.The company, which was set up in 2004 by Easyjet founder Stelios Haji-Ioannou, attributed much of the growth in revenue to the addition of 173 rooms to its hotel portfolio.Easyhotel said it has moved forward with its hotel expansion plans, with easyHotel Croydon opening in November 2014 and a new hotel development site acquired in Liverpool expected to open in spring 2016.However, the company said that profit growth has been dampened this year because of the additional costs incurred by being a public company, as well as the group investing to meet significant development targets."Trading for the year ending 30 September 2015 continues in line with the board's expectations and we remain confident that we can secure properties in the UK and key European gateway cities and continue to expand our franchised hotels elsewhere, delivering a high return on investment for our shareholders," the company said.EasyHotel also said that its executive chairman, Jan Astrand, will be stepping down from his role on 1 July. Current non-executive director Jonathan Lane has been appointed non-executive chairman with effect from 2 July.

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29 Oct 2018 11:04

easyHotel Buys Site In Bristol, Secures Planning Permission In Oxford

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EasyHotel targets continental expansion as sales and revenue grow

(Sharecast News) - After an "excellent" performance from newly opened hotels, EasyHotel reported improved room revenue and sales for the year ended 30 September on Monday.

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24 Sep 2018 13:26

EasyHotel opens five new sites, agrees to buy Blackpool site

(Sharecast News) - EasyHotel announced on Monday that it has opened five new sites and conditionally acquired a 999-year lease on a site in Blackpool.

10 Sep 2018 17:44

DIRECTOR DEALINGS: EasyHotel Non-Exec Chairman Lane's Wife Buys Shares

LONDON (Alliance News) - easyHotel on Monday said Kerry Lane, a person closely associated with Non-Executive Chairman Jonathan Lane, purchased shares in the company.Lane bought 50,000 at a

13 Aug 2018 09:22

EasyHotel makes Gary Burton CFO as Vieilledent becomes development director

(Sharecast News) - EasyHotel said on Monday that Gary Burton will become chief financial officer with effect from 29 October, as current CFO Marc Vieilledent steps into the role of group development director.

9 Aug 2018 11:26

Planning Permission Granted For easyHotel's Cardiff Development

LONDON (Alliance News) - Budget hotel developer easyHotel PLC said Thursday it has been given planning permission to build a 120-bedroom hotel at its freehold site in Cardiff.The company of

16 May 2018 16:29

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23 Jan 2017 09:53

easyHotel Trading In Line With UK, Europe Hotel Market Improvement

23 Jan 2017 07:56

EasyHotel in line with expectations with a pipeline of new hotels

(ShareCast News) - EasyHotel is trading in line with expectations as the market improved in the last two months of 2016, while the budget hotel operator plans to open further hotels during 2017. The AIM-listed company said for the year ended 30 September the company had made "good progress" and is i

3 Jan 2017 17:39

DIRECTOR DEALINGS: easyHotel Chief Executive Parsons Buys Shares

20 Dec 2016 12:07

easyHotel Buys Leasehold For Sheffield Site To Develop New Hotel

20 Dec 2016 11:48

EasyHotel buys long leasehold site in Sheffield city centre

(ShareCast News) - EasyHotel has conditionally acquired the 999-year leasehold of part of the building at 57-65 High Street in the heart of Sheffield's city centre for the development of a new hotel, subject to planning permission. The building, previously occupied by Primark, is to be developed int

29 Nov 2016 09:22

EasyHotel profit and revenue rise in full year

(ShareCast News) - EasyHotel posted a jump in full-year profit and revenue for the year to the end of September, as it accelerates its development pipeline, with 1,527 rooms now in development. Pre-tax profit rose 38.4% to £1.09m on total revenue of £6.02m, up 8.7% from the year before. Total syste

22 Nov 2016 16:20

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