easyHotel franchisee gains funding for first Belgium hotel
easyHotel’s Benelux franchisee has secured financing for the proposed 107 room easyHotel Brussels project.
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The AIM listed budget hotel company announced the news on Friday.
As a result of the funding, easyHotel has received repayment of its €3.3m security deposit and has been entirely released from any future step-in obligation.
Chief executive Guy Parsons said it’s an exciting opportunity for the company.
“It gives the brand a strong position in the highly concentrated Brussels hotel market.
“I am pleased that our Benelux franchisee has secured this financing and the hotel will be a great addition to the easyHotel network."
The new hotel is expected to open by early 2017 as the first easyHotel in Belgium.