5 Jun 2015 07:00
5 June 2015
easyHotel plc
("easyHotel" or the "Group")
Acquisition of building in Manchester
easyHotel, the owner, developer, operator and franchisor of "super budget" branded hotels, is pleased to announce it has conditionally acquired a freehold building in Manchester, which it intends to convert into an easyHotel. Built in the 1800s, the building is located at the junction of Dale Street and Newton Street. The purchase of the property is subject to easyHotel obtaining planning consent for a hotel.
Bradley House, locally known as "The Flatiron" building because of its unique shape, is situated in the centre of Manchester, in the city's Northern Quarter, and is approximately ten minutes' walk from both Manchester Piccadilly and Victoria stations, as well as the main shopping areas in Manchester.
The Group plans to convert the building into a 114-bedroom easyHotel, which is planned to open in summer 2016. Total cost of the purchase and conversion of the building is estimated at £6 million.
Simon Champion, Chief Executive Officer, commented:
"Following so soon after our recent success in securing premises to develop an easyHotel in Liverpool, we are delighted to be investing in another vibrant city. Manchester has substantial international tourism, good economic growth potential, a large population and successful, internationally-renowned universities. We expect this new easyHotel to attract a variety of leisure and business customers looking for good quality accommodation at an affordable price and look forward to being a part of the city's ongoing success."
Enquiries:
easyHotel plc www.easyhotel.com
Simon Champion (Chief Executive Officer)
Marc Vieilledent (Chief Financial Officer)
Investec Bank plc (NOMAD and Broker) +44 (0) 20 7597 4000
Chris Treneman
David Anderson
Hudson Sandler (Financial PR) +44 (0) 20 7796 4133
Wendy BakerEmily Dillon
Notes to Editors:
Information on easyHotel:
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. easyHotel currently has three owned hotels comprising 390 rooms, and a further 17 franchised hotels with approximately 1,400 rooms.