easyHotel PLC Statement re COVID-19 (3229G)

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RNS Number : 3229G

easyHotel PLC

16 March 2020

16 March 2020

easyHotel plc

("easyHotel" or the "Group")

Statement re COVID-19

easyHotel, the owner, developer, operator and franchisor of "super budget" branded hotels, today announces an update in response to COVID-19.

Against the backdrop of a clearly escalating and material reduction to domestic and international travel as a result of the COVID-19 pandemic, the Group is now experiencing a reduction to its forward bookings for the next three months which is expected to adversely impact occupancy levels at the Group's hotels across the UK and Europe.

It is too early to estimate what the full impact from COVID-19 will be on the Group's performance for the current financial year, however, the Board is assessing the actions it can take to respond to the unprecedented market challenges it faces.

Our key priority is the health and welfare of our staff and guests alike and we will continue to monitor the situation closely.

Enquiries:

 
 easyHotel plc 
 Scott Christie, Interim Chief          www.easyhotel.com 
  Executive Officer 
 Harm Meijer, Non-executive Chairman    http://ir.easyhotel.com 
 
 Investec (Nominated Adviser 
  and Broker)                           [phone] 
 David Anderson 
 Houston (Financial PR)                 [phone] 
 Kate Hoare / Laura Stewart 
 

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 has an estate of 40 hotels with 3,759 rooms, comprising 27 franchised hotels (2,332 rooms) and 13 owned hotels (1,427 rooms).

Owned hotels:

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

Spain: Barcelona

France: Nice

Franchise locations:

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

Europe: Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin, Frankfurt, Bernkastel-Kues), Hungary (Budapest), The Netherlands (Amsterdam: City, Arena & Zaandam, Amsterdam Schiphol Airport, Rotterdam, The Hague, The Hague Scheveningen Beach, Maastricht), Portugal (Lisbon), Switzerland (Basel, Zurich).

International: UAE (Dubai).

Hotel development pipeline

Owned hotels:

United Kingdom: Chester, Cardiff, Oxford*, Blackpool, Cambridge* and Bristol(#) .

Europe: Ireland (Dublin), France (Paris-Charles de Gaulle Airport*), Spain (Madrid)

Franchise hotels:

United Kingdom: Derby

Europe: Spain (Malaga), Switzerland (Zurich: City Centre, Limmatplatz).

International: Israel (Tel Aviv - three locations)

* Hotels under an operating lease.

(#) Subject to planning permission.

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March 16, 2020 11:05 ET (15:05 GMT)