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EasyHotel sales increase by 24% over six months

11 April 2019 by
EasyHotel sales increase by 24% over six months

Budget hotel brand EasyHotel has said that it has "continued to outperform its competitors" in a market where political and economic uncertainty continues to affect consumer confidence.

Total system sales for the group increased by 24% to £19.9m, according to a trading update for the company for the six months to 31 March 2019.

While revenue per available room (revpar) increased by 5.4% across the group's 11 owned hotels, it was down by 3.5% for the 25 franchised properties.

The update highlighted that "relatively strong market demand in London was off-set by a weaker regional market performance, with a marked deterioration in revpar across the UK in Q2 as compared with Q1. As a result, the short-term market outlook remains uncertain".

Hotel openings during the period included one owned property in Ipswich and two franchised properties in Lisbon and Bernkastel-Kues, Germany.

Meanwhile, two new owned hotels are due to launch in June in Milton Keynes (124 bedrooms) and Old Street, London (89 bedrooms).

Guy Parsons, chief executive of EasyHotel, said: "Ongoing political and economic uncertainty continues to impact consumer confidence as demonstrated by weakening quarter-on-quarter demand across the market, both in the UK and in Europe.

"However, our actions to drive occupancy, including working closely with online travel agents to increase brand awareness, has meant that EasyHotel has continued to outperform its competitors as consumers seek out the best value for money."

easyHotel revenue up 60% despite uncertainty hitting consumer confidence >>

EasyHotel heralds ‘transformational year' after 42% portfolio boost >>

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