Budget chain easyHotel is to go ahead with developing its first hotel in Belgium.

The company’s Benelux franchisee has secured financing for the proposed 107-room property in Brussels and has paid back a €3.3 million security deposit.

This will allow the hotel to open in early 2017.

Chief executive Guy Parsons said: “This is an exciting opportunity for easyHotel as it gives the brand a strong position in the highly concentrated Brussels hotel market.

“I am pleased that our Benelux franchisee has secured this financing and the hotel will be a great addition to the easyHotel network.”