easyHotel PLC European Development Update (7478K)

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RNS Number : 7478K

easyHotel PLC

18 December 2018

18 December 2018

easyHotel plc

easyHotel plc

("easyHotel", the "Group" or the "Company")

European Development Update

Conditional agreement for a 209-room hotel close to Paris-Charles de Gaulle Airport, France

easyHotel plc, the owner, developer and operator of "super budget" branded hotels, announces that a planning application has been submitted for the development of a 209-room easyHotel, close to Paris-Charles de Gaulle Airport, France. The Group has signed an exclusive letter of intent with Groupe ADP (owner and operator of the three main airports in the Paris region and operator of a network of 26 airports worldwide) for an operating lease agreement for the hotel. The final agreement is subject to planning permission being granted and full legal documentation being agreed.

The new-build hotel, to be developed by Linkcity, is anticipated to open in the 2020/21 financial year. The site is within the Charles De Gaulle Airport perimeter, the second largest airport in Europe with around 70 million passengers a year. It is also a short distance from the Aeroville shopping centre which includes over 200 shops, 30 restaurants and a 12-screen cinema complex as well as Paris Nord Villepinte, the largest convention centre in France.

Further details will be announced on receipt of planning permission and exchange of contracts, which are anticipated in 2019.

Commenting, Guy Parsons, Chief Executive of easyHotel plc said:

"I am delighted by the progress we have made to develop our first site in France. Paris is one of the most popular tourist destinations in the world, attracting circa 33.8 million foreign visitors a year, and the hotel will be a valuable addition to our portfolio.

"Following the recent opening of our 204-room hotel in Barcelona this project is early testament to our growing ambitions for the brand in Continental Europe. We see a number of attractive opportunities, particularly in France, Germany and Spain where the Board believes there is potential for the brand to target 10 to 15 cities in each of these countries and we look forward to announcing further opportunities in due course."

Enquiries:

 
 easyHotel plc 
 Guy Parsons, Chief Executive    www.easyhotel.com 
  Officer 
 Gary Burton, Chief Financial    http://ir.easyhotel.com 
  Officer 
 
 Investec (Nominated Adviser 
  and Broker)                    [phone] 
 David Anderson 
 Houston PR (Financial PR)       [phone] 
 Kate Hoare 
 

Notes to Editors:

www.easyhotel.com http://ir.easyhotel.com

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, Rotterdam, 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), France (Paris-Charles de Gaulle Airport*).

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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December 18, 2018 02:00 ET (07:00 GMT)