TIDMEZH
RNS Number : 1837D
easyHotel PLC
25 April 2017
25 April 2017
easyHotel plc
("easyHotel")
Master Development Partnership in Nepal
easyHotel plc ("easyHotel" or the "Company") (AIM:EZH), the
owner, developer, operator and franchisor of "super budget" branded
hotels, is pleased to announce that it has signed a Master
Development Partnership with IGC Group UK (www.igc.com.np Incentive
Group of Companies Nepal), to develop easyHotels in Nepal.
Recognising the strength of the easyHotel brand, IGC approached
the Company and expressed its interest in a franchise agreement to
develop easyHotels in Nepal and North India, a region which
attracts 729,550 international and domestic visitors to Nepal alone
each year*.
The franchise agreement is for 300 rooms to be opened within the
next three years, with the first hotel to be located in the
capital, Kathmandu.
This partnership has been signed against a backdrop of continued
local government support for growing the budget hotel industry.
The new easyHotels are expected to comprise new purpose-built
hotels and conversions of existing hotels and/or office buildings.
The first easyHotel will be located in the Lazimpath area of
Kathmandu, the trading hub of Nepal's capital, and IGC has already
secured land and property to accommodate the first 100 rooms which
is due to open by the end of 2018.
Incentive Group of Companies (IGC) has established itself as a
rapidly growing international and domestic travel business with
operations in six business sectors; Tour & Trek, Aviation,
Cargo, Information Technology, Hospitality and Travel Technology.
IGC has hospitality expertise and already operates hotels in the
region.
Guy Parsons, Chief Executive of easyHotel said,
"We are delighted to enter into this new partnership with IGC
Nepal which is testament to easyHotel's strong brand recognition.
IGC has established a significant geographical foothold in the
region in a number of business areas, many of which are targeted
towards value conscious consumers, which makes them a great
cultural fit for easyHotel.
This relationship provides us with the opportunity to extend our
network into this attractive market without direct capital
investment."
A spokesperson for IGC said,
"We are excited to be partnering with the easyHotel brand. We
see a significant gap in the budget sector in the entire region.
Currently there are no hotel brands offering a combination of great
value and superb quality and we feel that easyHotel is perfectly
designed to take advantage of this opportunity."
* Source: The Himalayan Times, January 2017
Enquiries:
easyHotel plc www.easyhotel.com
Guy Parsons, Chief Executive
Officer
Marc Vieilledent, Chief http://ir.easyhotel.com
Financial Officer
Investec (Nominated
Adviser and Broker) +44 (0) 20 7597 5970
David Anderson
Hudson Sandler (Financial
PR) +44 (0) 20 7796 4133
Wendy Baker/ Emily Dillon
Notes to Editors:
easyHotel is the owner, developer, operator and franchisor of
branded hotels. Its strategy is to target the "super budget"
segment of the hotel industry by marketing "clean, comfortable and
safe" hotel rooms to its customers.
Operating hotels
easyHotel's four owned hotels currently comprise 476 rooms, and
it has a further 19 franchised hotels with 1,643 rooms.
Owned hotels:
Old Street (London), Glasgow, Croydon, Birmingham
Franchise locations:
Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin,
Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam,
Amsterdam-Zaandam, Rotterdam, The Hague), Switzerland (Basel,
Zurich), UAE (Dubai), United Kingdom (Edinburgh, London Heathrow,
Central London, Luton).
Hotel development pipeline
The Company's committed development pipeline of owned and
franchised hotels currently consists of:
Owned hotels:
United Kingdom (Liverpool, Manchester, Ipswich, Sheffield),
Spain (Barcelona)
Subject to planning consent: United Kingdom (Leeds)
Franchise hotels:
UAE (Dubai), Germany (Bernkastel-Kues), Portugal (Lisbon),
Turkey (Istanbul), UK (Belfast, Reading)
Website: www.easyHotel.com
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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