EasyHotel looks to accelerate growth following end-of-year results

Budget hotel group easyHotel has announced plans to accelerate growth following its latest end-of-year trading report.

The hotel group reported that trading for the year ending September 30, 2015, is expected to be in line with the board’s expectations, with earnings before interest, taxes, depreciation and amortization standing at around £1.4m to £1.5m for the year.

EasyHotel, which won’t release its full results until December, added that it has recently acquired two properties in Liverpool and Manchester, which, subject to planning permission, are expected to open in late 2016.

Guy Parsons, who was recently appointed as chief executive, said: “In the two months I have been with the group I am pleased with its progress and direction of travel.

“Whilst the strategy is sound, I am currently having a hard look at how we can accelerate the growth of both the owned and franchised hotels as well as how we can improve the group’s core operational disciplines. A further update will be provided with our results in December.”

The company expects to report its audited results for the year ended September 30, 2015, on Wednesday, December 9 2015.