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easyHotel (UK) Signs Agreement with IGC to Develop Hotels in UK

25 Apr 2017 - Budget hotel operator easyHotel PLC on Tuesday said it has signed a master development partnership with IGC Group UK to develop easyHotels in Nepal.

According to easyHotel, it was approached by travel company IGC, which expressed an interest in forming a franchise agreement to develop hotels in Nepal and northern India.

Under the agreement, 300 rooms will be opened within the next three years, with the first hotel to be located in Nepal's capital Kathmandu and due to open by the end of 2018.

The hotels will comprise both new purpose-built hotels and conversions of existing hotels and/or office buildings.

"We are delighted to enter into this new partnership with IGC Nepal which is testament to easyHotel's strong brand recognition. IGC has established a significant geographical foothold in the region in a number of business areas, many of which are targeted towards value conscious consumers, which makes them a great cultural fit for easyHotel," Chief Executive Guy Parsons said in a statement.

"This relationship provides us with the opportunity to extend our network into this attractive market without direct capital investment," he added.

Shares in easyHotel were trading down 1.6% at 91.01 pence on Tuesday.

London South East



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