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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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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)

Transition, expansion pays off for easyHotel

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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EasyHotel Plans To Appeal Planning Rejection For London Hotel

UK Dividends Calendar - Next 7 Days

easyHotel First-Half Profit Down On Costs, But Revenue Rises

Earnings, Trading Statements Calendar - Week Ahead

EasyHotel First Half Trades Above Expectations As Portfolio Grows

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