EasyHotel reports improved winter trading

EasyHotel reports improved winter trading

Super budget chain easyHotel has seen improved trading over the winter period.

Revenue for the five months to the end of February was up by 19% year-on-year.

The company is looking to add more hotels in UK and European cities.

Chief executive, Guy Parsons, said in a trading update this morning: “Trading in the first five months of financial year 2016/17 was slightly ahead of the board’s expectations, with like for like revenue growth of 19%, as owned hotels continued to benefit from our revenue management strategy.

“The roll out of the new booking engine, Hetras, and yield management system, Duetto, are on schedule and will support our positive trading momentum.

“The systems will be rolled out to the whole network by the end of the current financial year.”

The company is on track to open eight new hotels, four owned and four franchised, in the current year.

“We are actively evaluating a number of interesting opportunities which potentially meet our site criteria of location and returns,” added Parsons.

“The board remains confident that it shall secure properties in major and regional UK cities as well as key European gateway cities whilst leveraging the strong brand to increase easyHotel’s presence in the growing branded super budget hotel segment.”

Three “new look” hotels opened during the period, in Brussels, Amsterdam Arena and Birmingham. All have traded “exceptionally strongly”.

EasyHotel has 1,748 rooms under development, 716 of which are owned and 1,032 are being developed by franchise partners.

These include owned hotels in Barcelona, Ipswich, Manchester, Liverpool, Sheffield and Leeds plus franchise properties in Reading and Belfast.

An appeal for retrospective planning permission relating to 78 of the 162 rooms at the group’s Old Street Hotel in London was heard on Tuesday with a decision expected shortly.

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