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Thursday 12 July, 2018

easyHotel PLC

Milton Keynes and Chester Acquisition Update

RNS Number : 3731U
easyHotel PLC
12 July 2018
 

 

12 July 2018

easyHotel plc

easyHotel plc 

("easyHotel", the "Group" or the "Company") 

 

Milton Keynes and Chester Acquisition Update

 

easyHotel plc, the owner, developer and operator of "super budget" branded hotels, is pleased to confirm the completion on the acquisition of Milton Keynes and the purchase of the site for the Chester development.

 

The Group announced on 26 January 2018 the acquisition of a 125-year leasehold site in Milton Keynes. Planning permission for a 124-bedroom hotel has now been granted and the conversion works for the central site, which forms part of Norfolk House on Silbury Boulevard, has begun. The hotel is anticipated to open in 2019. 

 

The Group announced on 11th April 2018 the acquisition of a 109-bedroom hotel in Chester. The hotel is being delivered to easyHotel as a turnkey development, and the acquisition of the site represents the first stage of the hotel development which should also open in 2019.

 

easyHotel Maastricht opened at the beginning of July taking the total number of hotels in the Group to 28.

 

Enquiries:

 

easyHotel plc

 

Guy Parsons, Chief Executive Officer

www.easyhotel.com

Marc Vieilledent, Chief Financial Officer

http://ir.easyhotel.com

 

 

Investec (Nominated Adviser and Broker)

+44 (0) 20 7597 5970

David Anderson

 

 

Houston PR (Financial PR)

+44 (0) 20 3701 7660

Kate Hoare / Hamish Thompson

 

Notes to Editors:

www.easyhotel.com http://ir.easyhotel.com

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.

Operating hotels

easyHotel's seven owned hotels currently comprise 702 rooms, and it has a further 21 franchised hotels with 1,803 rooms.

Owned hotels:

United Kingdom: Old Street (London), Glasgow, Croydon, Birmingham, Manchester, Liverpool, Newcastle*.

Franchise locations:

United Kingdom: Edinburgh, London Heathrow, Central London, Luton.

Europe: Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam: City, Arena & Zaandam, Rotterdam, The Hague, The Hague Scheveningen Beach, Maastricht), Switzerland (Basel, Zurich).

International: UAE (Dubai).

Hotel development pipeline

The Company's committed development pipeline of owned and franchised hotels currently consists of:

Owned hotels:

United Kingdom: Ipswich, Sheffield, Leeds, Milton Keynes, Chester. Subject to planning consent: Cardiff, Oxford*, Cambridge*.

Europe: Spain (Barcelona).

Franchise hotels:

United Kingdom: UK (Belfast, Reading)

Europe: Germany (Bernkastel-Kues), Portugal (Lisbon), Spain (Malaga)

International: Iran, Sri Lanka, Turkey (Istanbul), UAE (Dubai).

*Hotels under an operating lease.


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