14 Jan 2016 07:00
14 January 2016
easyHotel plc
("easyHotel", the "Group")
Acquisition of freehold building for an easyHotel in Ipswich
easyHotel, the owner, developer, operator and franchisor of "super budget" branded hotels, announces that it has conditionally acquired 3-5 Northgate Street in Ipswich, which it intends to convert into an easyHotel. The purchase of the property is subject to easyHotel obtaining planning consent.
The project reflects the Group's strategy to develop hotels in the UK in areas with strong demand for low cost accommodation.
Previously used as a nightclub, the Grade II listed property is prominently situated in Northgate Street, adjacent to the junction with Tavern Street, the town's principal retail area.
The Group plans to convert the building into a 94-room easyHotel, which is expected to open in 2017. The total cost of the purchase and conversion of the building will be approximately £4 million.
Guy Parsons, Chief Executive Officer, commented:
"We are delighted to be investing in the vibrant cultural centre of Ipswich which is a gateway to the UK's highly popular east coast. We expect to benefit from growing local business and tourism in the area as we extend our owned brand presence in the UK."
Enquiries:
easyHotel plc | www.easyhotel.com |
Guy Parsons, Chief Executive Officer |
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Marc Vieilledent, Chief Financial Officer | http://ir.easyhotel.com |
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Investec (Nominated Adviser and Broker) | +44 (0) 20 7597 4000 |
Chris Treneman |
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David Anderson |
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Hudson Sandler (Financial PR) | +44 (0) 20 7796 4133 |
Wendy Baker |
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Emily Dillon |
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Notes to Editors:
easyHotel is the owner, developer, operator and franchisor of branded hotels. Its strategy is to target the "super budget" segment of the hotel industry by marketing "clean, comfortable and safe" hotel rooms to its customers.
Operating hotels
easyHotel's owned hotels currently comprise 390 rooms, and it has a further 18 franchised hotels with 1,490 rooms.
Owned hotels:
Old Street (London), Glasgow, Croydon.
Franchise locations:
Bulgaria (Sofia), Czech Republic (Prague), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam, Rotterdam, The Hague), Switzerland (Basel, Zurich), UAE (Dubai), UK (Edinburgh, London).
Hotel development pipeline
The Group's development pipeline of owned and franchised hotels currently consists of:
Owned hotels:
Liverpool (UK), Manchester (UK), Barcelona (Spain) and Ipswich (UK)
Franchise hotels:
Brussels (Belgium), Middle East (UAE & Oman)
Website: www.easyHotel.com