easyHotel franchisee gains funding for first Belgium hotel

(ShareCast News) - easyHotel's Benelux franchisee has secured financing for the proposed 107 room easyHotel Brussels project.The AIM listed budget hotel company announced the news on Friday.As a result of the funding, easyHotel has received repayment of its €3.3m security deposit and has been entirely released from any future step-in obligation.Chief executive Guy Parsons said it's an exciting opportunity for the company."It gives the brand a strong position in the highly concentrated Brussels hotel market."I am pleased that our Benelux franchisee has secured this financing and the hotel will be a great addition to the easyHotel network."The new hotel is expected to open by early 2017 as the first easyHotel in Belgium.