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Transition, expansion pays off for easyHotel

Wed, 09th Dec 2015 09:30

(ShareCast News) - Stelios' charge into the hotel sector paid off for another year on Wednesday, with easyHotel reporting a healthy boost to its earnings.The AIM-listed budget accommodation chain, known for its garish orange locations, saw total system sales increase by 15% in the year to 30 September to £19.95m.Profit before tax was up 38% to £0.79m, and cash from operations more than doubled to £3.39m (£1.11m in 2014.)The year marked a period of transition and expansion for the chain, with a new chief executive officer and chief financial officer appointed and the brand now operating 1,880 rooms in eight countries. Serial entrepreneur Stelios Haji-Ioannou started the chain with a single hotel in central London 10 years ago.Three-hundred-and-ninety of those are owned by the company following the opening of a new hotel in Croydon, with the rest franchised. New sites were also purchased in Manchester and Liverpool, with both hotels scheduled to open in the 2016-17 financial year."The scale of opportunity we have in the UK and Europe is larger than was previously thought", said CEO Guy Parsons, who was appointed to the role in August."Through a mix of owned and franchised hotels and an accelerated pace of openings, I believe that we have the opportunity to establish ourselves as the leading branded super budger hotel chain and create significant value for shareholders and stakeholders."Since the end of the financial year, the company secured agreements for the development of new franchised hotels in the UAE, Oman and Brussels over the next few years.EasyHotel will pay a maiden final divident of 0.33p per share.

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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

Tuesday 2 October FergusonFull Year Results SCS GroupFull Year Bars Year Gifford 3 4

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

Thursday 17 May British LandFull Year Results3i GroupFull Year GridFull Year 18

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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