Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

EasyHotel reports strong first half to the year

23 May 2018 by
EasyHotel reports strong first half to the year

Super budget branded hotel group EasyHotel has reported strong financial results for the first half of the year.

According to the group's interim results for the six months ended 31 March 2018, "strong market outperformance" drove "sustained growth".

The group saw profit before tax of £90,000, a 52.5% increase on the same period last year, and revenue of £4.76m, up from £3.14m. It also reported adjusted earnings before interest, tax, depreciation and amortisation of £980,000, up 51%.

The group raised £50m through a share pacing earlier this year to speed up the expansion of owned hotels, which it says is already fuelling expansion.

New openings are expected to increase the group's room portfolio by 38% by the end of the calendar year, with three new hotels having opened in the first half of the year, and four new owned hotels and five franchised hotels scheduled to open this year.

Guy Parsons, chief executive of EasyHotel, said: "EasyHotel delivered another strong performance in the first half of our financial year, growing market share in every market in which it operates. The group's successful £50m fundraising is already fuelling further expansion and since the placing completed in March 2018 we have been delighted to announce further additions to our development pipeline with new sites acquired in Cambridge and Chester.

"As has been widely reported, industry data points to more challenging trading conditions in the overall UK hotel market whilst the European market continues to perform well. Our growing portfolio of European hotels are trading strongly.

"Whilst we remain mindful of UK consumer sentiment we believe our super budget offer is appropriately aligned to the needs of discerning and value conscious customers. Group trading remains in line with our expectations and we expect the brand to continue to outperform the market."

The group says it believes there is potential for approximately 12,000 owned EasyHotel rooms primarily in the UK, Spain, France and Germany. It currently owns seven hotels comprising 702 rooms.

Work starts on development of Splendid's first EasyHotel project >>

EasyHotel sales increase by 33.6% following expansion >>

EasyHotel secures lease to develop 100-room ‘super budget' venue >>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking