EasyHotel PLC plans to build a 145-bedroom super-budget hotel in Bristol just a stone’s throw from Temple Meads rail station. The new hotel is expected to open in 2020. It will cost £12mln in totall.
EasyHotel PLC’s total sales in the second half of its financial year increased by 25% and fundraising earlier this year will allow the chain to ramp up its growth plans.
The hotel chain said in its year-end trading statement that total system sales rose by 25% to £37.2mln, up from £29.7mln in the year-ago period. Like-for-like revenue at franchised hotels grew by 12%, and revenue per available room increased 11% at group-owned hotels.
The company also opened five new hotels during the second half of the year, including in Barcelona, which marked the first owned hotel in continental Europe.
The new locations, according to the statement, increased the group’s portfolio room count by 42%, bringing its total network to 33 hotels and 3,068 rooms across 27 cities.
“The successful placing completed in March 2018 has enabled us to accelerate our growth plans. We are focused on expanding our developments as well as balancing our strong UK pipeline with a growing number of exciting European opportunities, creating value for our shareholders and underpinning the long-term growth of the brand,” said Guy Parsons, CEO of EasyHotel, in a statement.
The company says it plans to focus efforts in Germany, Spain and France. According to the chain’s board there is potential for the brand to target 10 to 15 cities in each of these three countries.
Four of the company’s newly opened hotels are located in Liverpool, Leeds, Sheffield and Newcastle. The hotels have performed “particularly well”, in line with a strong performance seen at hotels opened last year in Birmingham and Manchester, the chain’s chief executive added.