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From Wikipedia, the free encyclopedia

easyHotel plc
Public limited company
Traded as LSEEZH
Industry Hotels
Founded January 19, 2004 (2004-01-19)
Founder Stelios Haji-Ioannou
Headquarters London
Number of locations
27 (Additional 7 opening 2018)
Area served
Europe, Middle East
Key people

Guy Parsons (Chief Executive) Marc Vieilledent (Chief Financial Officer)

Jonathan Lane (Non-Executive Chairman)
Services Super budget hotel rooms
Website easyhotel.com

EasyHotel (styled easyHotel) is an international super budget hotel chain head quartered in London and listed on the Alternative Investment Market of the London Stock Exchange.

easyHotel owns, develops, operates and franchises hotels under the “super budget” easyHotel brand, marketing its hotels as offering clean, comfortable and safe hotel accommodation to its customers. The company was incorporated in 2004 and opened its first hotel in 2005.

History

Originally founded by Sir Stelios Haji-Ioannou through easyGroup Holdings Ltd, easyHotel was incorporated in 2004 and opened its first hotel in South Kensington, London in 2005. Whilst easyHotel owned its first hotel in South Kensington (which was subsequently sold and franchised in 2007), its growth strategy in its early years was to expand via franchise contracts.

2007 saw the first three international franchise hotels open in Basel, Budapest and Zurich along with two further hotels in London, at Earl’s Court and Victoria.

2008 marked easyHotel’s expansion into key London travel hubs with the opening of hotels near Luton and Heathrow airports as well as in London Paddington.

Between 2010 and 2014, the Company continued to expand its portfolio through franchise partnerships with new openings in Scotland, Germany and The Netherlands. The Group also acquired two London based hotels in Old Street (2012) and Croydon (2014).

In June 2014 the Company floated on the London Stock Exchange raising £24.5m to fund further growth and expansion.

In 2015, a newly appointed management team led by Chief Executive Guy Parsons[1] announced the completion of a strategic review of the Group’s operations and a future development strategy for the growth of the business. This is centered primarily on the development of the Group’s owned and franchised hotel networks in the UK and Ireland and the expansion of the Group’s franchise hotel network overseas. The Company also announced the launch of a new, more modern format for its newly developed hotel rooms.

2015 also saw easyHotel announce plans for newbuild hotels in Manchester and Liverpool as well as a franchise agreement to develop the brand in the Middle East.

In 2016 easyHotel announced further expansion with plans for new hotels in Birmingham, Sheffield and Leeds in the UK, as well as Barcelona, Spain. The Group opened hotels in Amsterdam (Arena Boulevard) and Brussels.

In 2017 easyHotel announced the openings of three of its ‘new look’ format hotels. easyHotel Birmingham opened in February 2017[2], easyHotel Manchester[3] opened in April 2017 and easyHotel Liverpool in November 2017. Also announced was the agreement to take over Tune hotel in Newcastle.

On 17 July 2017 the Group also announced that it had signed a Master Development Agreement to develop the easyHotel brand in Iran and Sri Lanka.[4]

In 2018, easyHotel announce the signing of a franchise agreement with Continuum Hospitality Group for the development of a hotel in Malaga, Spain. Two franchise hotels are opened in the Netherlands: The Hague Scheveningen Beach and Maastricht City Centre, and two in the UK: Belfast and Reading.

In 2018, the Group also continues to expand its development pipeline of owned hotels in key tourist and city centre destinations across both UK and Europe. A 25-year lease on a site in the City of Cambridge is announced for the development of a new purpose-built easyHotel in March. The acquisition of a central site in Milton Keynes, a freehold site in Dublin, and the purchase of a site for development in Chester is announced in July. In August 2018 the completion of acquisition of a central site in Cardiff is announced. The refurbishment of Glasgow and Croydon, bringing the hotels in line with the new brand look, is also completed.

Operations

As of 10 September 2018 easyHotel has:

· Nine corporately-owned hotels currently comprising 702 rooms in Old Street (London), Glasgow, Croydon, Birmingham, Manchester, Liverpool, Newcastle, Sheffield and Leeds.

· 22 franchised hotels with 1,803 rooms. in Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary (Budapest), the Netherlands (Amsterdam: City Centre, Arena Boulevard and Zaandam, Rotterdam, Maastricht, The Hague: City Centre and Scheveningen beach), Switzerland (Basel, Zurich), UAE (Dubai), and the United Kingdom (Edinburgh, London Heathrow, Central London, Luton, Belfast, Reading).

Following the completion of a strategic review conducted by management in 2015, the Group publicly confirmed that it had identified the potential for circa 8000 owned hotel rooms in the UK and Ireland under the easyHotel brand as well as a further 4000 franchised hotel rooms. The Group also announced the potential for a further 15000 rooms across Europe under the easyHotel brand, the majority of these being through franchise agreements.

Concept

easyHotel operates in the “super budget” hotel segment. The customer proposition offers low price rooms that provide comfortable beds and essentials with the option to pay for extras such as WiFi, TV, coffee, spare towels, housekeeping on multiple night stays, and early check in or late check out. Rooms are discounted for early bookings. Periods of high demand cost more than less popular periods. By selling basic rooms at a low price, this enables guests to save their money to spend exploring the location. The hotels are well-located in city centres, nearby transport and main attractions. [5]

References

External links

This page was last edited on 13 September 2018, at 09:02
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