31 Jul 2015 07:00
31 July 2015
easyHotel plc
Board Changes
easyHotel plc ("easyHotel" or the "Company") (AIM:EZH), the owner, developer, operator and franchisor of "super budget" branded hotels, today is pleased to announce the appointment of Guy Parsons as Chief Executive Officer with effect from 10 August 2015. He will bring considerable hotel, commercial and business transformation experience to easyHotel.
Guy has over 25 years of hotel and leisure industry experience. Having started his career in sales and marketing in the FMCG sector, Guy spent seven years working for Accor SA as the Director of Operations, Sales and Marketing of Novotel UK Limited. Guy joined Whitbread plc in 1997 as Marketing Director for Travel Inn before being promoted to Sales and Marketing Director for the Whitbread Hotel Company and subsequently, Managing Director of TGI Fridays. He joined the Travelodge Board in 2004 and was promoted to Chief Executive Officer in 2010, leading the successful growth of the business to over 500 hotels in the UK, Ireland and Spain.
The Company also announces that Simon Champion has stepped down from his role as Chief Executive Officer to pursue other interests.
Commenting on the changes, Jonathan Lane, Chairman said:
"I am delighted to welcome Guy as Chief Executive Officer. As an experienced chief executive in the hotel industry, he is ideally suited to advance the easyHotel brand. Guy's hotel, marketing and development skills will be a great addition to the senior management team at easyHotel.
"Having led the company during key stages of its development from a privately-owned business through its IPO in 2014, the board thanks Simon for his contribution."
Guy Parsons added "I am delighted to be joining the business as Chief Executive. easyHotel has a strong brand and clear strategy and I am looking forward to leading the Company as it grows and delivers for its customers, its people, its franchise partners and its shareholders."
Simon Champion commented "Since joining easyGroup in 2013, under my tenure easyHotel has been transitioned from being family office owned business to being an independent AIM company with a small and loyal leadership team. The business has solid foundations for growth based on sound franchises and a developing freehold portfolio. I believe the business is in good shape, and it is now time for me to step aside to pursue other interests. I wish the business well for the future."
Enquiries:
easyHotel Plc | www.easyhotel.com |
Jonathan Lane, OBE, Chairman | http://ir.easyhotel.com |
Marc Vieilledent, Chief Financial Officer | |
Investec (Nominated Adviser and Broker) | +44 (0) 20 7597 4000 |
Chris Treneman / David Anderson | |
Hudson Sandler (Financial PR) | +44 (0) 20 7796 4133 |
Michael Sandler / Wendy Baker / Emily Dillon |
Guy Paul Cuthbert Parsons (aged 52 years) holds or has held the following directorships or partnerships in the past five years:
Current Directorships or Partnerships | Previous Directorships or Partnerships |
Yorkshire Building Society | Commercial Services Kent Limited |
Commercial Services Trading LTD | |
Endell Group Holdings Limited | |
Full Moon HoldCo 2 Limited | |
Full Moon HoldCo 3 Limited | |
Full Moon HoldCo 3A Limited | |
Full Moon HoldCo 4 Limited | |
Full Moon HoldCo 5 Limited | |
Full Moon HoldCo 6 Limited | |
Hospitality Guild | |
Kent County Trading Limited | |
London & Partners Limited | |
Nescot Business Services Limited | |
Nescot Consortium LLP | |
North East Surrey College of Technology | |
Stewart Watt Limited | |
TLLC Bridge Co 08 Limited | |
TLLC Bridge Co 09 Limited | |
TLLC Holdings 2 Limited | |
TLLC Holdings 3 Limited | |
TLLC Holdings 4 Limited | |
TLLC Holdings 5 Limited | |
TLLC Lev Prop Co 1 Limited | |
TLLC LevProp Co 5 Limited | |
TLLC LevProp Co 7 Limited | |
TLLC Limited | |
TLLC Prop Hold Co 1 Limited | |
TLLC Prop Hold Co 2 Limited | |
TLLC Spareco Limited | |
Tommy's Pork Store Limited | |
Travelodge Hotels Limited | |
Warmup PLC Gasp Trading Company Limited |
The Travelodge group of companies undertook a financial restructuring in conjunction with a company voluntary arrangement approved by creditors in October 2012 (after Guy Parsons had left the group in April 2012). Key terms of the financial restructuring included £75m of new shareholder equity injected into the business, bank debt of £233m was written off and £71m repaid, loan notes of £476m were written off and the repayment date of the remaining debt was extended to 2017 and the rate of interest was reduced. As part of the arrangements, the following companies, which Guy Parsons was a director of within twelve months of the arrangements, were solvently liquidated: Endell Group Holdings Limited, Full Moon HoldCo 2 Limited, Full Moon HoldCo 3 Limited, Full Moon HoldCo 3A Limited, TLLC Prop Hold Co 2 Limited and TLLC Spareco Limited.
There are no other matters which are required to be disclosed with regards to the appointment of Guy Parsons pursuant to Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.
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. easyHotel currently has three owned hotels comprising 390 rooms, and a further 18 franchised hotels with approximately 1,500 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)