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Budget hotel chain EasyHotel has reported a 31% increase in total system for the first quarter of the current financial year to date.
The group also reported a 60% increase in revenue, and owned hotels like-for-like RevPAR was up 11.2%, outperforming its competitive set by 5.2%.
According to the hotel chain, its franchised hotels performed “particularly well” across the UK, however, results across the wider European market were more varied, and the EasyHotels in Holland performed less strongly than it had in 2018.
The group added that despite the “ongoing political and economic uncertainty that is affecting consumer confidence, particularly in the UK”, it has continued to “outperform both its competitive set and the wider hotel market”.
During the period EasyHotel opened three new hotels, a new 89-bedroom owned hotel in Ipswich and two franchised hotels (201-bedrooms) in Lisbon and Bernkastel Kues.
CEO Guy Parsons said: “Whilst we are not immune from the ongoing political and economic challenges and their impact on the hotel sector, our robust business model means that we have continued to outperform our markets in the period.
“These current uncertainties are presenting us with opportunities, which might not otherwise be possible, to acquire sites on good terms in central locations in our core target cities, such as Dublin, Bristol and Paris Charles de Gaulle.”
He added: “Well publicised uncertainties and frequent regulatory delays can postpone completion of our hotels and how quickly they reach maturity. However, we are making good progress with our strategic priorities and are confident that the appeal of EasyHotel’s super budget brand will deliver long-term growth.”
