Budget hotel operator EasyHotel has announced sales increased by 33.6% in the six months to 31 March 2018.
Its total system sales reached £16.1m as EasyHotel said it “continued to significantly outperform the budget market”. Revenue per available per room (RevPAR) was also up 11.2% in owned hotels and like-for-like revenue up 13.5% in franchised hotels.
EasyHotel attributes the strong performance to the continued impact of its new booking engine and yield management systems and the growing strength of the brand’s continued expansion network hotels in key UK and European destinations.
The period saw the opening of a new owned 78-room hotel in Liverpool and the acquisition and opening of a 104-room leased hotel in Newcastle. The group also expanded its franchise portfolio with the opening of the 87-bedroom EasyHotel The Hague, Scheveningen Beach in March 2018.
These openings increased the group’s offering to 2,430 rooms across 27 hotels in 18 Cities.
Guy Parsons, chief executive of EasyHotel, said: “EasyHotel has traded strongly over the first half of the financial year, outperforming the wider market in both our owned and franchised hotels.
“We are mindful that consumers in the UK will continue to be cautious, given the wider macro-economic and political uncertainty, but believe our super-budget offer positions us well as consumers become increasingly discerning and value conscious.”
EasyHotel also announced that it has agreed to acquire the freehold of a central site in Chester for the development of a new-build 109-bedroom hotel, subject to planning permission.
Located on Forest Street, the brownfield site will be developed into a purpose-built hotel that is expected to open in 2019 at the cost of an estimated £7m.
Parsons added: “We continue to make good progress with our growth strategy. The Chester transaction marks our second investment following the successful fundraising announced in February 2018, taking EasyHotel’s pipeline of owned and leased development projects to 1,150 rooms, in addition to the 1,857 franchise rooms currently under development.”