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EasyHotel profit and revenue rise in full year

Tue, 29th Nov 2016 09:22

(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 system sales grew 6.8% to £21.32m while like-for-like owned hotels revenue was up 13% and adjusted earnings before interest, taxes, depreciation and amortisation rose to £1.55m from £1.46m.EasyHotel said revenue grew despite a softening UK hotel market, particularly in London, thanks to the new revenue management and dynamic pricing strategy implemented during the year.This, along with a decision to start selling a limited allocation of rooms via selected on-line travel agencies resulted in all three owned hotels significantly outperforming their competitive set from November 2015 onwards.The company proposed a final dividend of 0.22p per share, taking the total dividend for the year to 0.33p per share.EasyHotel said the UK hotel market performed strongly following the Brexit vote as the weakening of the pound resulted in an increase in staycations and inbound tourism.Chief executive officer Guy Parsons said: "We are on track to deliver the development plans we announced in September 2016. 2015/2016 was a transformational year for EasyHotel, with excellent operational progress made across the business and a significant acceleration of both our owned and franchise hotel development pipelines. "The board remains confident that by exploiting the strength of the brand, EasyHotel will continue to outperform the budget hotel sector as consumers seek out the best value for money."At 0940 GMT, the shares were up 1.6% to 93.50p.

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29 Oct 2018 11:04

easyHotel Buys Site In Bristol, Secures Planning Permission In Oxford

LONDON (Alliance News) - easyHotel PLC on Monday said it bought a site in Bristol, England, to develop a 145-bedroom freehold hotel, subject to planning permission.The budget hotel said the

8 Oct 2018 08:57

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.

1 Oct 2018 16:04

UK Earnings, Trading Statements Calendar - Next 7 Days

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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

UK Earnings, Trading Statements Calendar - Next 7 Days

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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

22 Nov 2016 16:20

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