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London/Paris - easyHotel, the low carbon affordable hotel chain, is pleased to announce its trading results for the first half of 2023, delivering positive results as it continues to capitalize on strong market fundamentals in the budget travel segment. The brand's commitment to high-quality 4* beds as part of its "Brilliant Basics" approach sets it apart in the value hotel landscape.

H1 2023 Highlights:

• Revenue Growth: The easyHotel Group's total revenue has more than doubled during H1 2023 compared to the same period last year. The brand is now well established in Continental Europe, as well as its historic UK base, and Benelux, with revenue split evenly across each region.
• RevPAR Increase: easyHotel has recorded a notable 45% increase in Revenue Per Available Room (RevPAR) across its properties compared with the same period last year (27% like-for-like). This demonstrates easyHotel’s ability to adapt to market dynamics effectively and offer competitive pricing.
• Strong growth and Successful Openings: Room count increased 58% with new openings and the Benelux portfolio takeover last year in October 2022. Recent openings in Paris, and Dublin have been met with positive demand, reinforcing easyHotel's ability to establish itself successfully in sought-after locations.
• Management Team Strengthened: The company has invested in enhancing its management team and overall employee support has increased by 46% since 2022. These strategic investments position easyHotel for sustained growth.
• Expansion Plans: With a promising pipeline of developments including two imminent opportunities, easyHotel aims to double its portfolio by 2027, reinforcing its presence in key markets and capitalising upon the strong ‘easy’ brand awareness throughout Europe.

The H1 2023 trading results reflect the brand's dedication to offering high-quality, budget-friendly, and low carbon accommodations, as well as our readiness to adapt to changing market dynamics.

The market fundamentals are positive for the affordable sector. We are finding that our customer is changing, and our offering is becoming more attractive to a wider audience. We offer central locations and brilliant basics, without compromising quality, enabling the customer to experience the city and local community.

We are on track to continue our growth trajectory and look forward to announcing new openings soon. Karim Malak, CEO at easyHotel

easyHotel is an affordable, low-carbon chain of value hotels. It was founded in 2004 by Sir Stelios Haji loannou and is now 79.1% owned by ICAMAP Investments S.à r.l and Ivanhoé Cambridge.

ICAMAP Investments S.à r.l. is an investment fund managed by ICAMAP S.à r.l., an asset management company founded by Guillaume Poitrinal, Harm Meijer and Alexandre Aquien.

Ivanhoé Cambridge internationally develops and invests in high-quality real estate properties. It is a subsidiary of Caisse de dépôt et placement du Québec (CDPQ), a global investment group.

easyHotel is surging its expansion across Europe in the coming years, leveraging the leading easy brand awareness. The company aims to strengthen its presence in key markets such as France, Spain, Germany and the UK, whilst developing in new markets, including Italy, Greece and Poland.

easyHotel has an estate of 49 hotels with c.4,900 rooms, comprising 17 franchised hotels (c.1,200 rooms) and 32 owned and leased hotels (c.3,700 rooms)

United Kingdom: Belfast, Birmingham, Cardiff, Edinburgh, Glasgow, Ipswich, Leeds, Liverpool, London Croydon, London Paddington, London Shoreditch, London South Kensington, London Victoria, Manchester, Milton Keynes, Newcastle, Oxford, Reading & Sheffield.

France: Marseille, Nice, Paris Charles De Gaulle Villepinte & Paris Nord Aubervilliers.

BENELUX: Amsterdam Arena, Amsterdam City Centre, Amsterdam Zaandam, Brussels, Maastricht, Rotterdam, The Hague & The Hague Scheveningen.

Spain: Alicante, Barcelona Fira, Barcelona Meridiana, Madrid Centro Atocha, Madrid San Blas, Malaga & Valencia.

Switzerland: Basel, Zurich City Centre, Zurich Limmatplatz, Zurich Main Station & Zurich West.

Rest of Europe: Berlin, Budapest, Dublin, Lisbon & Sofia.

Organization
easyHotel
www.easyhotel.com/
easyHotel House, 80 Old Street
London, EC1V 9AZ
United Kingdom

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