Newly appointed chief executive of EasyHotel, Guy Parsons, believes the group has the opportunity to become "the leading branded super-budget hotel" chain in the UK and Europe.
Parsons, former chief executive of Travelodge, who was appointed to his new role in August, was speaking as EasyHotel announced its annual results for the year ended 30 September, during which the group's pre-tax profit increased by 38% to £790,000 with total revenue up 56% to £54.4m. Occupancy for all hotels, excluding 2014/15 openings, was 76.4%.
Parson said he has undertaken a review of the company's strategy since his arrival. Following "key changes to the group's operations and management structure", he explained that there is now the opportunity to "increase significantly" the pace of EasyHotel's expansion of owned and franchised properties.
"Established budget hotel chains are gradually increasing their room rates, leaving a gap in the market for a truly budget offering," he explained.
"The owned hotel strategy is sound, albeit there is more we can do to capitalise on market opportunities available. We have identified the potential for 12,000 EasyHotel rooms, two-thirds of which are in over 30 cities and Greater London in the UK, the remainder being in key gateway European cities. This analysis is based on known demand for good quality, affordable hotel rooms.
"The focus is primarily on acquiring conversions and new build sites that are in close proximity to good transport links as well as food and beverage facilities."
Parsons said the group is currently evaluating and negotiating "several interesting sites". A new "fresher and more contemporary" design to both bedrooms and public areas is also to be introduced to all future new hotel openings.
EasyHotels has three owned hotels with 390 bedrooms and a further 18 franchised hotels with 1,490 bedrooms.