RNS Number : 3876F easyHotel PLC

29 October 2018

29 October 2018

easyHotel plc easyHotel plc

(“easyHotel”, the “Group” or the “Company”)

easyHotel acquires Bristol freehold site for new 145-room hotel and receives planning permission approval for 180-room Oxford hotel

easyHotel plc, the owner, developer and operator of “super budget” branded hotels, today announces that it has acquired a central freehold site in Bristol where it expects to develop a 145-bedroom freehold easyHotel, subject to planning permission.

Located on West Street opposite the Cabot Circus shopping centre, just 0.5 miles from Bristol Temple Meads sta.on, the site is close to Bristol city centre with its excellent range of shops, restaurants and local a/rac.ons. Known for its shipping and trading heritage, the city‘s modern economy is built on the crea.ve media, electronics, aerospace and financial services industries with the original city-centre docks having been redeveloped into a popular centre for heritage, leisure and culture. Bristol is home to two universi.es with the wider district boas.ng the 10th largest population in England.

The company will develop the site for the purpose-built easyHotel which, subject to planning consent, is expected to open in 2020. The total forecast cost of acquisition and construction will be approximately £12 million.

The Group is also pleased to confirm that planning permission has been granted for the development of its new purpose-built 180-room hotel in Oxford. The Group announced on 21 June 2017 that it had secured a 25-year lease for the hotel which will be located in Oxford‘s Summertown, a premium residen.al and shopping district less than two miles from Oxford city centre and only half a mile from Oxford‘s Ring Road. The hotel is being developed for the Group as part of a mixed-use redevelopment which will include residen.al and retail space as well as the new purpose-built easyHotel which will occupy the upper floors of the building and is expected to open in the second half of the 2020 calendar year.

Commenting, Guy Parsons, CEO of easyHotel plc, said:

“Our investment in Bristol, the fi;h since our fundraising in March marks the latest addi.on to our fast-growing por key tourist and business loca.ons. The Group is also pleased to confirm that planning approval for the new easyHotel Oxford has been granted. Construc.on work is anticipated to start in the New Year.

“The Group con.nues to review a large number of investment opportuni.es in both the UK and Europe and we look forward to announcing further developments in due course.”

Enquiries:

easyHotel plc

Guy Parsons, Chief Executive Officer

Marc Vieilledent, Chief Financial Officer

Investec (Nominated Adviser and Broker)

+44 (0) 20 7597 5970

David Anderson

Houston PR (Financial PR)

+44 (0) 20 3701 7660

Kate Hoare / Hamish Thompson

Notes to Editors:

easyHotel is the owner, developer, operator and franchisor of branded hotels. Its strategy is to target the super budget segment of the hotel industry by marketing “clean, comfortable and safe” hotel rooms to its customers.

Operating hotels

easyHotel‘s ten owned hotels currently comprise 1,130 rooms, and it has a further 24 franchised hotels with 2,039 rooms.

Owned hotels:

United Kingdom: Old Street (London), Glasgow, Croydon, Birmingham, Manchester, Liverpool, Newcastle*, Leeds, Sheffield.

Spain: Barcelona

Franchise locations:

United Kingdom: Edinburgh, London Heathrow, Central London, Luton, Reading and Belfast.

Europe: Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam: City, Arena & Zaandam, Ro/erdam, The Hague, The Hague Scheveningen Beach, Maastricht), Portugal (Lisbon), Switzerland (Basel, Zurich).

International: UAE (Dubai).

Hotel development pipeline

The Company‘s committed development pipeline of owned and franchised hotels currently consists of:

Owned hotels:

United Kingdom: Ipswich, Milton Keynes, Chester, Cardiff, Oxford*. Subject to planning consent: Cambridge*, Blackpool, Bristol

Europe: Ireland (Dublin).

Franchise hotels:

Europe: Germany (Bernkastel-Kues), Spain (Malaga), Switzerland (Zurich, Basel), Netherlands (Amsterdam Schiphol Airport).

International: Iran, Sri Lanka, Turkey (Istanbul), UAE (Dubai).

*Hotels under an operating lease.

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easyHotel plc published this content on 29 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 October 2018 07:16:12 UTC