EasyHotel signs franchise deal for hotel in Reading

EasyHotel has signed a new franchise agreement for a hotel in Reading that will add 54 rooms to its network.

The site, which is centrally located on Caversham Road, is an existing hotel that will be converted into an EasyHotel next year.

Following the opening of the 107-room EasyHotel Brussels on 24 October, its first EasyHotel in Belgium, this agreement brings the group’s total committed development projects to 1,658 rooms under development, 576 of which are owned and 1,082 are being developed by franchise partners.

Chief executive officer Guy Parsons said: "We are delighted to announce the extension of our franchise network in the UK as we continue to implement our expansion strategy. This franchise agreement will enable us to further increase our presence in the south-east and raise brand awareness without direct capital investment."

At 0930 BST, EasyHotel shares were up 0.4% to 92.35p.