EasyHotel (UK) Announces Iran and Sri Lanka Expansion
04 Aug 2017 - Budget chain easyHotel is to expand into Iran and Sri Lanka by signing two master development agreements.
The deal for Iran is expected to result in more than 500 new easyHotel rooms in the country, while 200 rooms are planned for Sri Lanka.
The first 100 rooms in Sri Lanka are due to be open by 2022.
The new hotels in both countries are expected to comprise new purpose-built hotels and conversions of existing hotels or office buildings.
The agreements take easyHotel’s pipeline of franchise rooms under development to 1,936, in addition to 781 rooms being developed as owned projects.
Chief executive, Guy Parsons, said: “EasyHotel has made good progress over the last year against its plans for the international expansion of the brand.
“I am pleased to announce a further extension of our franchise network, enabling us to establish the brand’s presence in new territories where there is growing demand from cost conscious consumers for value hotel accommodation.
“The agreements announced today will add at least a further 700 rooms to our committed development pipeline enabling us to extend our network in these exciting new markets without direct capital investment, as we focus direct investment in our core markets of the UK and Europe.”