easyHotel acquires Cardiff freehold site for hotel

30 October 2017

easyHotel plc

easyHotel plc

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

easyHotel acquires Cardiff freehold site for new hotel

easyHotel plc, the owner, developer and operator of "super budget" branded hotels, today announces that it has acquired a central site in Cardiff to develop a new 120-bedroom freehold easyHotel, subject to planning permission.

Located at Fitzalan Place, just 0.3 miles from Cardiff Queen Street Station, the site is located between the city centre and Cardiff Bay, which has been redeveloped into one of the city's main leisure areas, with many bars, restaurants, cinemas and visitor attractions, including the Dr Who experience at the BBC Roath studios.

An office block will be demolished to make way for the new, purpose built hotel, which is expected to open in 2019. The total forecast cost of acquisition and construction will be approximately £8 million.

easyHotel currently has 5 owned hotels, 20 franchised hotels and a strong pipeline of new openings and developments, with easyHotel Liverpool expected to open in November 2017 and hotels in Ipswich, Barcelona, Leeds and Sheffield due to open in 2018. 

The Cardiff site takes easyHotel's pipeline of owned/leased projects to 895 rooms in addition to the 1,636 franchise rooms under development.

Commenting, Guy Parsons, CEO of easyHotel plc said: "We are delighted to be investing in Cardiff, a well-connected modern city that attracts 20 million visitors each year. This acquisition is part of our ongoing strategy of offering comfortable, affordable accommodation in key tourist and business locations in the UK and internationally. We expect easyHotel Cardiff to attract a variety of leisure and business customers and look forward to being part of the City's ongoing growth and success."

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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 five owned hotels currently comprise 520 rooms, and it has a further 20 franchised hotels with 1,750 rooms.

Owned hotels:

Old Street (London), Glasgow, Croydon, Birmingham, Manchester.

Franchise locations:

Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam: City, Arena & Zaandam, Rotterdam, The Hague), Switzerland (Basel, Zurich), UAE (Dubai), United Kingdom (Edinburgh, London Heathrow, Central London, Luton).

Hotel development pipeline

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

Owned hotels:

United Kingdom (Liverpool, Ipswich, Sheffield, Leeds), Spain (Barcelona) Subject to planning consent: United Kingdom (Oxford - lease).

Franchise hotels:

UAE (Dubai), Germany (Bernkastel-Kues), Portugal (Lisbon), Turkey (Istanbul), UK (Belfast, Reading), Iran, Sri Lanka.