23 Oct 2015 07:00
23 October 2015
easyHotel plc
easyHotel Brussels update
easyHotel plc ("easyHotel" or the "Group") (AIM:EZH), the owner, developer, operator and franchisor of "super budget" branded hotels, today announces that further to the announcement on 7 October 2015, the Group's Benelux franchisee has secured financing for the proposed 107 room easyHotel Brussels project and, as a consequence, the Group has received repayment of its €3.3 million security deposit and has been entirely released from any future step-in obligation. The hotel is expected to be opened by early 2017 as the first easyHotel in Belgium.
Guy Parsons, Chief Executive, said:
"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."
Enquiries:
easyHotel Plc | www.easyhotel.com |
Guy Parsons, Chief Executive | 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 |
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)