July 2008

easyHotel, the leading super-budget hotel operator, has taken a big step forward in its expansion plans, with the signing of a major UK development deal. The company has signed an agreement with Splendid Hotel Group, which will see Splendid invest up to £50 million developing ten easyHotels across the UK, over the next three years.

In what is being seen as a major vote of confidence from Splendid, who already operate the easyHotel Victoria franchise, the development deal puts easyHotel well ahead of its target to achieve the goal of operating 60 hotels across Europe and the Middle East by 2010.

The Splendid agreement follows a series of recent easyHotel openings this year, in London, Budapest and Zurich and is the latest in a number of significant deals with operators across Europe, including i.gen hotels in Germany, P_Orange GmbH in Austria and Best Ecran in Portugal.

Lawrence Alexander, CEO of easyHotel says, "Splendid have been extremely successful with their London Victoria easyHotel and the signing of this development deal with them demonstrates the belief and commitment our franchisees have in the easyHotel business model. Signing with easyHotel provides investors with the opportunity to leverage a hugely powerful brand and gives them the scope to grow their business in a wide range of destinations."

Talking about the development plans, Shiraz Boghani, Managing Partner of Splendid Hotel Group says, "We firmly believe that the easyHotel brand and super-budget model has huge growth potential in the UK. The success that easyHotel has enjoyed over the past two years is testament to the rising demand for good quality, consistent, value for money hotel accommodation. We hope to replicate the success we have enjoyed with easyHotel Victoria on a national basis and are delighted to be playing a significant part in easyHotel's future development plans."


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