Guy Parsons plots accelerated easyHotel expansion
New easyHotel chief executive Guy Parsons has announced plans to accelerate the growth of the business.
The budget hotel group has reported that trading for the year to 30 September 2015 is expected to be in line with expectations, with EBITDA of around £1.4-£1.5m for the year.
The group, which named former Travelodge boss Parsons chief executive in July, won't reveal its full figures until December, but said in a trading update that a full year contribution from Glasgow, the extended capacity of its London Old Street hotel and the opening in Croydon have boosted its turnover.
EasyHotel added that it anticipates further openings in Liverpool and Manchester in late 2016 subject to planning.
It will also open a 107-bedroom hotel in Brussels in 2017 either through the group's Benelux franchisee, in which case it will release a £2.4m security deposit, or it will directly own and manage the hotel at a cost of £6.9m.
Parsons said: "In the two months I have been with the group I am pleased with its progress and direction of travel. Whilst the strategy is sound, I am currently having a hard look at how we can accelerate the growth of both the owned and franchised hotels as well as how we can improve the group's core operational disciplines.
"A further update will be provided with our results in December."
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