easyHotel has an estate of 25 hotels with 2,270 rooms, comprising 20 franchised hotels (1,750 rooms) and five owned hotels (520 rooms).
The Group’s growth strategy focuses on the continued development and rollout of owned hotels that the Board believes will offer sustained earnings per share-enhancing returns. Alongside growth of the owned hotel portfolio, our franchise network will continue to be expanded, which increases our network without direct capital investment from the Group.
Our successful share placing in October 2016 raised £38.0m (£36.7m after expenses) of additional equity capital. Alongside the £12.0m refinancing of an existing bank facility in November 2016, sufficient capital has been secured to finance further growth in the Group’s identified hotel pipeline in line with the Board’s strategy.
The operational foundations necessary to achieve the Group’s exciting ambitions are now firmly in place. Moreover, the Board is confident that these plans will be delivered in a manner that is consistent with the values that distinguish the easyHotel brand from other providers in the sector – we make things simple; we are always the best value for money; we do what we say; and we care for you.
Information correct as of 30 September 2016