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Budget operator EasyHotel has revealed its revenues more than doubled in the first half of the year.
It said the improvement comes as it recorded a notable 45% increase in Revenue Per Available Room (RevPAR) across its properties compared with the same period last year (27% like-for-like).
Room count also increased 58% with new openings and the Benelux portfolio takeover last year in October 2022. It added recent openings in Paris, and Dublin have been met with positive demand.
The company said it has invested in enhancing its management team and overall employee support has increased by 46% since 2022. These strategic investments position easyHotel for sustained growth.
With a promising pipeline of developments including two imminent opportunities, EasyHotel aims to double its portfolio by 2027, reinforcing its presence in key markets and capitalising upon the “strong easy brand awareness” throughout Europe.
Karim Malak, CEO at easyHotel, said: “The H1 2023 trading results reflect the brand’s dedication to offering high-quality, budget-friendly, and low carbon accommodations, as well as our readiness to adapt to changing market dynamics.
The market fundamentals are positive for the affordable sector. We are finding that our customer is changing, and our offering is becoming more attractive to a wider audience. We offer central locations and brilliant basics, without compromising quality, enabling the customer to experience the city and local community. We are on track to continue our growth trajectory and look forward to announcing new openings soon.”
