EasyHotel ‘considering funding options’
Budget hotel owner and operator easyHotel has reported trading for the six months up to the end of March was ‘slightly’ above expectations.
It said revenue from the hotels it owns was up 8% compared with the same period of the previous year.
The trading of its franchise hotels, its central overheads and pre-opening costs were ‘in line with the Board’s expectations’, it said.
In the UK, ae new development in Liverpool is expected to open by January 2017 and in Manchester by April 2017.
The acquisitions in Birmingham and Ipswich announced in January 2016 remain subject to planning permission, with the hotels anticipated to open by March and June 2017 respectively, said easyHotel.
It expects to open its first owned hotel outside the UK in Barcelona in early 2018, subject to planning consent.
"As the Board continues to review a number of potential acquisitions against its strict criteria, it is considering its funding options to take full advantage of these opportunities," said easyJet in its trading upudate released today.
Sites under review include a range of office conversions, greenfield development sites and the conversion of existing hotel businesses, it said.
The Company’s Benelux franchisee is expected to open easyHotel Amsterdam and easyHotel Brussels by early 2017, and in the Middle East easyHotel’s recently appointed development partner is continuing to progress towards its target of 600 rooms in the UAE and Oman by December 2017, having received planning permission for the first 300-room hotel at Bur Dubai.
Commenting on today’s announcement, CEO Guy Parsons said:
"We are very pleased to report that during the first half of the financial year our operational initiatives and strategic focus have had a positive impact, earlier than originally anticipated, on our trading performance and expansion of our development pipeline.
"There remains further scope to improve our revenue. With the right management team in place we can now expand our owned and franchised network in line with our exciting business plan."
The company will announce its interim results for the six months up to the end of March on May 24.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airbnb eyes a loyalty program but details remain under wraps
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026