EasyHotel strikes Chester deal
EasyHotel looks set to launch in Chester after agreeing to buy the freehold of a central site in the city.
Located on Forest Street, the plot is to be developed into a new-build 109-bedroom venue earmarked for a 2019 opening.
The total expected cost for both the acquisition and construction is expected to be approximately £7m.
The announcement came as part of a wider update to shareholders, in which EasyHotel said it had “continued to significantly outperform the budget market”.
Chief executive Gary Parsons said: “We continue to make good progress with our growth strategy. The Chester transaction marks our second investment following the successful fundraising announced in February 2018, taking easyHotel’s pipeline of owned and leased development projects to 1,150 rooms, in addition to the 1,857 franchise rooms currently under development.”