LONDON (Alliance News) - easyHotel PLC Friday said its Benelux franchisee has secured financing for the proposed 107-room project in Brussels.
As a result, the budget hotel operator has received repayment of its EUR3.3 million security deposit and has been entirely released from any future step-in obligation.
The Brussels hotel is expected to be opened in early 2017 and will be the first easyHotel in Belgium.
"This is an exciting opportunity for easyHotel as 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," Chief Executive Guy Parsons said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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