13th Jan 2016 09:13
LONDON (Alliance News) - Budget hotels operator easyHotel PLC on Wednesday said it has acquired a new site in L'Hospitalet de Llobregat, just outside Barcelona, to build a new hotel, subject to securing planning permission.
The project will be easyHotel's first owned project outside the UK, and it is planning to build a 200-room hotel, which it expects to open in 2018.
The site is located on Gran Via, the main avenue of the L'Hospitalet de Llobregat area, with good access to the city centre and airport.
The company said the project will involve a total investment of around EUR15.0 million.
"We are delighted to be investing in our first owned property in Spain. The Barcelona region is an extremely attractive market for us, with Barcelona being the 12th most visited city in the world," said Chief Executive Guy Parsons.
"We are confident that there is considerable opportunity to expand the easyHotel brand through a mix of owned and franchised hotels in Europe and in Spain," he added.
Shares in easyHotel were up 0.4% to 87.85 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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