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The private equity firm TPG is reportedly among the bidders for budget hotel chain EasyHotel, thought to be valued at £400m, according to Sky News.
It has been learnt that the group and several other bidders have been shortlisted for the sale of the business, which is backed by Sir Stelios Haji-Ioannou, EasyJet founder.
Sky News also stated that real estate fund group Proprium Capital Partners has expressed its interest in buying the hotel chain.
However, it was unclear whether it made it through to the second round of the auction on Thursday (15 August 2024).
Founded in 2004, EasyHotel is currently present in 50 sites in 11 countries, including 19 in the UK.
The hotel brand comprises more than 4,000 rooms and employs about 330 people. EasyHotel announced its plans to grow to 120 hotels in the next four years and an expanded lending facility with Santander UK.
EasyHotel declined to comment on specific investors, but a spokesperson told Retail Sector: “As we continue to expand with new hotels, our major shareholders, ICAMAP and Ivanhoé Cambridge, are exploring new financing options to support our future growth, which may include new investors as well as other options. This is an exciting step as we prepare for our next chapter of growth.”
