EasyHotel aims to grow from 42 to 100 hotels by 2026, thanks to strong trading and a continued bounce-back in demand.
In a trading update for the 12 months ended September 30, it said sales topped £62 million for its owned, leased and franchised hotels, “demonstrating strong demand for affordable travel, with strong growth momentum continuing into the current year”.
It said pent-up demand from business and leisure customers continued to build over the year as travel re-opened, workers returned to offices and European cities saw the return of large- scale events.
The update said: “The growing consumer focus on value, compounded with the cost-of-living crisis, has meant that easyHotel’s highly affordable offer continues to resonate strongly with customers, underpinning continued growth in market share, with like-for-like revenue per available room (revpar) up 37%, on owned and leased estate.”
The Glasgow and Barcelona hotels benefited from the rescheduling of international events, while easyHotel Croydon saw an “impressive recovery”, benefiting from the resurgence of international tourism in London.
New properties in Oxford (pictured) and Charles De Gaulle Villepinte in Paris performed well, and there has been “particularly strong trading” in the Benelux hotels, which achieved record sales figures in summer 2022.
Karim Malak, chief executive of easyHotel, said: “Our strategic focus on offering low-carbon, high-quality, affordable hotels has underpinned strong trading recovery in FY22.
“In an inflationary economy, the strength of the easyHotel brand and our ability to offer our customers excellent value have been key drivers behind our growth in market share.
“The year has also seen us implement a number of operational and commercial improvements over the course of the year that will stand us in strong stead for the year ahead as we continue to progress our ambitious growth plans to increase our estate to 100 hotels across Europe by 2026, with 51 owned and franchised hotels in 13 different countries planned to open in the next 18 months.”