EasyHotel sees sales rise to £21m

EasyHotel plc, the owner, developer, operator and franchisor of ‘super budget’ branded hotels today announces its final results for the year ended 30 September 2016.

The group’s total system sales were up 6.8% to £21.32m (2015: £19.95m), and total revenue rose by 8.7% to £6.02m (2015: £5.54m).

For the period, the company saw like-for-like owned hotels revenue grew by 13%.

Adjusted EBITDA was up 6.5% to £1.55m (2015: £1.46m), and profit before tax rose by 38.4% to £1.09m (2015: 0.79m).

Guy Parsons, Chief Executive Officer, (pictured) said, ‘We are on track to deliver the development plans we announced in September 2016.

‘2015/2016 was a transformational year for easyHotel, with excellent operational progress made across the business and a significant acceleration of both our owned and franchise hotel development pipelines.

‘The Board remains confident that by exploiting the strength of the brand, easyHotel will continue to outperform the budget hotel sector as consumers seek out the best value for money.

‘With the experienced team we now have in place and the proceeds of our recent fundraising, we are in an excellent position to expand the easyHotel brand and deliver improving returns for our shareholders’