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easyHotel posts strong revenue amid expansion drive

03 June 2015 by
easyHotel posts strong revenue amid expansion drive

Budget hotel brand easyHotel has announced strong growth in revenue alongside plans to expand in the UK and Europe.

For the six months to 31 March 2015, the company saw revenue increase by 104%, up to £2.59m compared with £1.27m for the same period last year. Adjusted EBITDA before one-off items was up 6% to £0.52m compared with £0.49m to 31 March 2014.

The results come amid a period of expansion for the group, which, since September last year, had increased hotel rooms by 12% after the 103-bedroom easyHotel Croydon opened in November. A new hotel in Liverpool, expected to open in spring 2016 subject to planning permission, will also boost rooms by 17%.

The company is looking to Europe too, including Frankfurt, which opened in January, and Prague, expected to open this week.

Simon Champion, chief executive officer, said: "easyHotel has continued to perform well…Our expansion strategy is progressing well. We remain confident that we can secure properties in the UK and key European gateway cities and continue to expand our franchised hotels elsewhere."

The group also said that the launch of its new website in March had improved customer service.

easyHotel currently has three owned hotels, and 17 franchised sites, across the UK, Bulgaria, Germany, the Netherlands, Hungary, Switzerland, and the UAE, comprising 1,790 rooms in total.

EasyHotel raises £30m in IPO to fund expansion >>

easyHotel acquires Liverpool site and plans £3m conversion >>

easyHotel appoints former Accor executive as chief financial officer >>

Looking for a job? See all the current hotel vacancies available with The Caterer Jobs >>

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TagsFinance and Hotels
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