EasyHotel has acquired eight properties in the Netherlands and Belgium as part of a major European expansion.
The budget chain has purchased properties in Amsterdam, The Hague, Rotterdam, Maastricht and Brussels as part of a €145 million deal with private equity fund Crossroads Real Estate. The eight hotels will add just under 800 rooms to easyHotel’s inventory.
The brand is also due to open a property in Dublin later this year, as well as a Paris hotel in early 2023.
Following the acquisition and new openings, easyHotel will have 26 owned and leased hotels, which are evenly split between the UK and continental Europe, with the total number of owned rooms rising to around 3,000. Currently there are 42 easyHotels including its franchised properties.
Karim Malak, easyHotel’s CEO, said: “This strategic acquisition is an important milestone in our plan to increase our presence in continental Europe from a strong UK base.
“We are seeing strong trading and market share gain across both our UK portfolio and the Benelux hotels, with figures exceeding 2019 levels and outperforming the market.”
EasyHotel is adding three properties in Amsterdam, two in The Hague and one each in Rotterdam, Maastricht and Brussels through the Crossroads Real Estate deal.
Malak added that this acquisition was “just the start” of its European expansion and easyHotel planned to have 100 hotels in operation by 2026.
“With our latest developments and our new room model, we are aiming to invent a new breed of budget hotels that are more friendly to the planet and easier to use,” said Malak.