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EasyHotel has announced that it has been acquired by Tristan Capital Partners discretionary fund, European Property Investors Special Opportunities 6 (EPISO 6), for an undisclosed fee.
The completion of the transaction coincides with the release of the company’s FY24 results which saw its system sales rising 4% to a record £91.2m, up from £87.5m in the previous year.
Additionally, the group secured £80m in refinancing and new debt reinforcing its financial flexibility and capacity for future growth.
Operational highlights included the launch of a new 111-room hotel in Marseille, a fourth franchisee hotel opening in Zurich, the refurbishment of properties in Glasgow and Nice, and £6m in low-carbon investments that delivered a 23% reduction in carbon emissions.
EasyHotel has stated that it is continuing to focus on strengthening its presence in core European markets, including new hotels currently under construction in Barcelona, Valencia, Alicante, and Geneva.
Through the additional resources and sector expertise of Tristan Capital Partners, EasyHotel will be further supported in strengthening and expanding its offering.
Karim Malak, CEO of EasyHotel, said: “Over the past three years, we have successfully transformed EasyHotel into a strong pan-European owner and operator. This progress is thanks to the dedication of our employees and the support of our former shareholders ICAMAP, Ivanhoé Cambridge, and Sir Stelios alongside the strength of the easy brand that is widely recognised and trusted throughout Europe.
“We’ve continued to build momentum, with record levels of market share, guest satisfaction and direct bookings driving our highest-ever system sales. With Tristan Capital Partners now fully on board, we’re entering an exciting new chapter. Their sector expertise and capital backing come at a time of rising demand for affordable, low-carbon hotels and will help accelerate our expansion across Europe’s most dynamic gateway cities.”
Kristian Smyth, managing director, investments, Tristan Capital Partners, added: “Tristan’s Funds have emerged as a leader in the European budget hotel sector, with this transaction bringing the total committed hotel investments to more than €1bn (£840m) to date.
“The EasyHotel brand perfectly complements our growing platform with a compelling offering that delivers great value in centrally located destinations. We look forward to significantly growing the easyHotel platform as part of our long-term strategy in the sector.”
