LONDON (Alliance News) - Budget hotel operator easyHotel PLC on Thursday said it has acquired a freehold building in Ipswich in Suffolk which it will convert into a hotel.
The company, which on Wednesday bought a site in Barcelona to build its first owned site outside the UK, said it has acquired 3-5 Northgate Street in Ipswich, previously used at a nightclub.
It intends to convert the building into a 94-room hotel at a total investment of around GBP4.0 million. It expects the hotel to open in 2017.
"We are delighted to be investing in the vibrant cultural centre of Ipswich which is a gateway to the UK's highly popular east coast. We expect to benefit from growing local business and tourism in the area as we extend our owned brand presence in the UK," said Guy Parsons, easyHotel's chief executive.
easyHotel shares were untraded on Thursday, having last traded at 87.85 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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