easyHotel, the owner, developer and operator of “super budget” branded hotels, announces that it has signed two Master Development Agreements with 3SV Limited and MHA Hatfield Limited, a respected property developer, to develop the easyHotel brand across multiple sites in Iran and Sri Lanka respectively.
The Iranian Tourism industry has seen significant growth in recent years with the Government outlining ambitious plans to attract more than 20 million tourists by 2025. The agreement for Iran is anticipated to deliver more than 500 new easyHotel rooms in the country.
The agreement for Sri Lanka is anticipated to deliver more than 200 rooms in the country, 100 of which are expected to be open by 2022. Sri Lanka has a well-established and growing tourism industry with over 2 million visitors in 2016.
In both territories, the new easyHotels are expected to comprise new purpose-built hotels and conversions of existing hotels and/or office buildings.
These agreements take easyHotel’s pipeline of franchise rooms under development to 1,936 rooms, in addition to the 781 rooms being developed as owned projects.
Commenting, Guy Parsons, CEO of easyHotel plc 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.”