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EasyHotel targets continental expansion as sales and revenue grow

Mon, 08th Oct 2018 08:57

(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.The budget hotel operator said total system sales jumped by 25% to £37.2m, while revenue per available room in owned hotels rose by 11% compared to the previous year after the company launched a new revenue management system.Guy Parsons, chief executive of easyHotel, said: "Whilst we are mindful of the current economic uncertainty facing the UK, our simple, stylish and highly affordable customer proposition resonates well with today's cost-conscious traveller and has underpinned strong RevPar growth over the period."The five new hotels opened during the period, based in Liverpool, Newcastle, Leeds, Sheffield and Barcelona, each performed "particularly well", while four new franchise hotels totalling 297 rooms opened in Belfast, Reading, Scheveningen Beach and Maastricht during the period.Plans are also in place for new hotels in Milton Keynes, Cardiff, Chester, Cambridge, Dublin and Blackpool.The new openings increased the AIM traded company's portfolio room count by 42%, while like-for-like revenue from franchised hotels grew by 12%."The team has worked hard to deliver on an ambitious opening programme across the UK and Europe, which has seen the number of owned hotels in our portfolio double over the course of the financial year and our network of rooms across the UK and Europe increase by 42%, including the opening of easyHotel Barcelona, our first owned hotel in Continental Europe," said Parsons.With its successful franchise network already having built a presence in continental Europe, EasyHotel plans to initially target 10 to 15 cities in Spain, France and Germany with an owned-hotel expansion project.EasyHotel's shares were unchanged at 101.50p at 0912 BST.

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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

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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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