27 Jul 2016 07:00
27 July 2016
easyHotel plc("easyHotel", the "Group")
Agreements signed with franchise partners in Istanbul and Lisbon
easyHotel, the owner, developer, operator and franchisor of "super budget" branded hotels, is pleased to announce a further 401 rooms under development by easyHotel franchisees.
The Group has signed a Master Development Agreement with Kolay, a wholly owned subsidiary of TOYA, to develop easyHotel in Istanbul, Turkey. TOYA is a privately owned company established 45 years ago, in construction and tourism. It has more than four million square metres of land in its portfolio to develop multiple residential, mixed-use and commercial projects throughout Istanbul and Turkey. TOYA's subsidiary, Kolay, will develop easyHotel in Istanbul and is expected to open 50 rooms by the end of 2017, with a further 150 rooms to open by the end 2018 on land that it already owns. A total of 300 rooms are expected to open by the end of 2019.
In addition, a new franchise hotel is under development in Lisbon, Portugal, which will add a further 101 rooms to the network by the end of December 2017. The hotel is being developed by Sedprop Investments, and is located in the heart of the city. The building was recently used as office space, and will be converted into a 101 room hotel which is expected to open by the end of December 2017.
These agreements bring the total number of rooms under development by easyHotel franchisees to 1,138.
Guy Parsons, Chief Executive Officer, commented:
"We are delighted to be working with new partners who have local expertise, know-how and property assets in these new markets for easyHotel.
We continue to see significant opportunity to expand our franchise hotels network in these and other target markets, enabling us to leverage our brand awareness without direct capital investment."
Enquiries:
easyHotel plc | www.easyhotel.com |
Guy Parsons, Chief Executive Officer | |
Marc Vieilledent, Chief Financial Officer | http://ir.easyhotel.com |
Investec (Nominated Adviser and Broker) | +44 (0) 20 7597 4000 |
Chris Treneman | |
David Anderson | |
Hudson Sandler (Financial PR) | +44 (0) 20 7796 4133 |
Wendy Baker | |
Emily Dillon |
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. Website: www.easyHotel.com
Operating hotels
easyHotel's owned hotels currently comprise 390 rooms, and it has a further 17 franchised hotels with 1,405 rooms.
Owned hotels:
Old Street (London), Glasgow, Croydon.
Franchise locations:
Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam, Rotterdam, The Hague), Switzerland (Basel, Zurich), UAE (Dubai), UK (Edinburgh, London Heathrow, Central London, Luton).
Hotel development pipeline
The Company's development pipeline of owned and franchised hotels currently consists of:
Owned hotels:
Liverpool (UK), Manchester (UK), Birmingham (UK)
Subject to planning permission: Barcelona (Spain), Ipswich (UK)
Franchise hotels:
Amsterdam (The Netherlands), Brussels (Belgium), Dubai (UAE), Bernkastel-Kues (Germany)
Website: www.easyHotel.com