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EasyHotel revenues up 60% in Q1 but warns on margins

Mon, 21st Jan 2019 11:16

(Sharecast News) - EasyHotel posted a rise in first-quarter revenue on Monday but warned that 2019 will be more difficult than the previous year and margins will take a hit.First-quarter revenue was up 60% with total system sales up 31%. Meanwhile, owned hotels like-for-like revenue per available room was 11.2% higher, outperforming the competition by 5.2%.However, the company cautioned that 2019 will be "more challenging" than the year before and said it has decided to continue to drive revenue growth and brand recognition at the expense of gross margin.EasyHotel said its franchised hotels performed particularly well across the UK. However, results across the wider European market were more varied, and its hotels in Holland performed less strongly than they had in 2018.Hotels opened in the final quarter of last year are trading well and exceeding the company's occupancy targets.Chief executive officer Guy Parsons said: "Whilst we are not immune from the ongoing political and economic challenges and their impact on the hotel sector, our robust business model means that we have continued to outperform our markets in the period."These current uncertainties are presenting us with opportunities, which might not otherwise be possible, to acquire sites on good terms in central locations in our core target cities, such as Dublin, Bristol and Paris Charles de Gaulle."Well publicised uncertainties and frequent regulatory delays can postpone completion of our hotels and how quickly they reach maturity. However, we are making good progress with our strategic priorities and are confident that the appeal of EasyHotel's super budget brand will deliver long-term growth." At 1115 GMT, the shares were down 3.5% to 84p.

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14 Nov 2016 08:07

easyHotel completes purchase of land for Barcelona hotel

(ShareCast News) - AIM-listed budget hotel owner easyHotel said it had completed the acquisition of land for its new site in Barcelona. In a statement, the company said the 204 room hotel would be located on Gran Via, the main avenue of L'Hospitalet de Llobregat. Planning permission has been grante

4 Oct 2016 09:52

EasyHotel gets planning permission for Barcelona hotel

(ShareCast News) - EasyHotel has been granted planning permission for a 204-room hotel on Gran Via in Barcelona. The group said acquisition of the land for the new-build hotel is expected to complete in the coming weeks and the hotel is due to open in early 2018. Last week, EasyHotel said it had ra

28 Sep 2016 10:17

EasyHotel announces placing to fund roll-out strategy

(ShareCast News) - EasyHotel has announced plans to place up to 38m new ordinary shares at 100p per share to fund its owned hotel roll-out strategy. The placing represents about 60.8% of the ordinary shares in issue and the price is a premium of approximately 18.3% to the closing mid-market price on

28 Sep 2016 09:43

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16 Aug 2016 12:32

EasyHotel announces third franchise hotel in Amsterdam

(ShareCast News) - EasyHotel announced on Tuesday that it has a further 96 rooms under development by its Benelux franchisee. The EasyHotel Amsterdam-Zaandam will be located on the ninth to eleventh floors of the Saentower in the heart of Zaandam, with construction expected to begin shortly and the

27 Jul 2016 15:55

easyHotel adds 300 rooms in Turkey despite low tourist demand

(ShareCast News) - Budget hotelier easyHotel added a further 300 rooms in its Turkey development despite low tourist demand, while also expanding in Portugal. EasyHotel signed a master development agreement with Kolay, a wholly owned subsidiary of construction and tourism company TOYA, to develop

5 Jul 2016 08:06

easyHotel sells space in Liverpool building for £0.6m

(ShareCast News) - Budget chain easyHotel said it had sold part of a building in Liverpool under a 125-year leasehold agreement for £0.6m. The space, which is currently a restaurant operated by a third party, comprises the ground floor of the building and portions of the basement used by the restaur

5 Jul 2016 07:28

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EZH.L Share News (EZH)

EasyHotel revenues up 60% in Q1 but warns on margins

easyHotel completes purchase of land for Barcelona hotel

EasyHotel gets planning permission for Barcelona hotel

EasyHotel announces placing to fund roll-out strategy

WINNERS & LOSERS SUMMARY: UK Mail Jumps On Deutsche Post Cash Offer

easyHotel Raises GBP38.0 Million For Hotel Roll-Outs (ALLISS)

EasyHotel announces third franchise hotel in Amsterdam

easyHotel adds 300 rooms in Turkey despite low tourist demand

easyHotel sells space in Liverpool building for £0.6m

easyHotel Sells Restaurant Space At Castle Street In Liverpool

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