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EasyHotel's revenues rise by a third following expansion to Barcelona

Thu, 06th Dec 2018 10:15

(Sharecast News) - EasyHotel reported that its full-year revenue increased by a third on Thursday after opening nine new hotels over the period.For the year-ended 30 September, the hotel developer and operator's revenue grew by 34% to £11.3m when compared to the year before, though profit before tax increased by just 1% to £0.9m after refurbishment caused disruption at thecompany's Old Street Hotel and the closure of a franchise at Earl's Court.Guy Parsons, chief executive of EasyHotel, said: "This has been a transformational year for the Group. We have increased our portfolio of rooms by 42%, in 27 cities across the UK, Continental Europe and the Middle East, making excellent progress towards our target of being the market leader in "super budget" hotels."With the help of £50m raised through a March placing, the period saw the AIM traded company open nine new owned-hotels, including a first non-franchise hotel in Continental Europe following the opening of a Barcelona hotel.The company's total portfolio now comprises 34 hotels in 28 cities, spanning ten owned hotels in the UK and Europe and 24 franchises across the UK, Europe and the Middle East.The company said it has "considerable headroom for further investment", with cash and cash equivalents of £41.4m at 30 September, up from £33.3m at the same point last year, and an extended loan facility."We have added a further 1,160 rooms to our development pipeline over the course of the year and invested behind our team to expand our presence in Europe, where we believe there is significant opportunity for the brand, particularly in Spain, France and Germany," said Parsons.EasyHotel's shares were up 1.14% at 88.50p at 1119 GMT.

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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

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

28 Sep 2016 07:53

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

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's revenues rise by a third following expansion to Barcelona

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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