The international budget hotel chain easyHotel has revealed the investment from current shareholders Ivanhoé Cambridge and ICAMAP will support the execution of its future growth strategy.
It currently has an estate of 42 hotels with 3,977 rooms. The additional capital together with new bank fundings recently secured will be used to develop or acquire new assets in key European cities. By 2026, easyHotel is aiming to more than triple the size of its owned and leased estate which currently comprises 15 hotels, with a total of 1,723 rooms, in the UK, France and Spain.
While many hospitality groups have been immobilised by Covid-19, easyHotel’s focus on its budget model has enabled the company to successfully navigate through the pandemic, even allowing for the opening of two hotels over the past 18 months (Cardiff, Oxford), and the launch of the works of five new hotels (Paris Charles de Gaulle, Barcelona, Dublin, Paris Aubervilliers, Cambridge).
Karim Malak, Chief Executive of easyHotel, commented: “We are delighted to receive this funding from our investors, a demonstration of their confidence in the future prospects of easyHotel. The investment strengthens our position to capitalise on the strong underlying structural drivers across our markets, allowing us to continue to build and develop our estate in key cities across Europe.
