Premier league 22 November 2019 Winston Zahra, Ryan Giggs and Tom Kerridge on opening the Stock Exchange hotel, a new level of luxury for Manchester
In this week's issue... Premier league Winston Zahra, Ryan Giggs and Tom Kerridge on opening the Stock Exchange hotel, a new level of luxury for Manchester
Read More
Search

EasyHotel revenue up 21.2%

23 May 2017 by
EasyHotel revenue up 21.2%

Budget brand EasyHotel has reported trading "slightly ahead" of expectations, with revenue up 21.2% to £3.1m for the six months to 31 March 2017.

The interim results also showed a 13.2% growth in adjusted EBITDA to £650,000, while total system sales were up 24.7% to £12m. However, profit before tax was down to £60,000 from £140,000, which the company said reflected "increased costs associated with the expanding development pipeline".

Like-for-like revenue for owned hotels increased by 17.4% and for franchised hotels by 6.8%. Three hotels opened during the period, with a reported occupancy of 85%.

Guy Parsons, chief executive officer, said: "The strong like-for-like performance from our owned and franchised hotels over the period is very encouraging. Our new hotels opened during the period, under our ‘new-look' format, have traded strongly.

"Whilst we are mindful of the broader political and economic uncertainty and the impact this is having on consumer confidence, full year trading is on track to meet the board's expectations."

EasyHotel Old Street planning appeal unsuccessful >>

EasyHotel to sell Ipswich site >>

EasyHotel reports record revenue ‘despite a softening UK hotel market' >>

Videos from The Caterer archives

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

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

Sign Up and manage your preferences below

Thank you

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