Sir Stelios wants to float hotel chain
EasyHotel founder Sir Stelios Haji-Ioannou has announced its intention to float on the stock market to help accelerate its growth.
He is looking to raise £60 million to fund expansion of the ‘super-budget’ chain in European gateway cities.
"I see easyHotel as one of the best, most natural extensions of the easy brand from the airline," said Sir Stelios.
"EasyHotel is raising money to accelerate growth at a much faster rate than I could have grown it as a private company, whilst enabling me to spend more time on my diversified portfolio of other investments."
The chain currently has 20 hotels and says it wants to grow by opening up wholly-owned hotels to get a better return on its capital.
The money raised from the flotation will also be used to pay back a loan from easyGroup.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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