The Board of easyHotel plc, the owner, developer and operator of “super budget” branded hotels, is pleased to provide the following development update.

 Owned Hotel Development Pipeline

 Paris Charles de Gaulle Airport, France

 Further to the Company’s announcement in December 2018, planning permission for the development of the 209-room easyHotel Paris-Charles de Gaulle Airport has now been granted.

 The Group has secured an operating lease agreement with Groupe ADP (developer and manager of airports worldwide, including the three main airports in the Paris region).  The hotel will be let on a 24-year FRI (fully repairing and insuring) lease at an annual rent of approximately €1.1 million.

 The site is being developed by Linkcity Ile de France (a subsidiary of Bouygues Construction) and construction works will now begin imminently with the new hotel anticipated to open during the 2020/21 financial year.

 

Franchise Hotel Development Pipeline

 Derby, UK

 The Group is pleased to confirm that it has signed a franchise agreement with Ushba Ltd for the development of a new 110-room hotel in Derby. Located close to the city centre and main transport hubs of the city, the hotel is expected to open in 2021.

 Tel Aviv, Israel

 The Group has also signed a 20-year exclusive franchise agreement with R&N Services Ltd to support the brand’s development in Tel Aviv, Israel. The agreement includes the development of three initial hotels in prime locations across the city, totalling 667 rooms. The hotels are expected to open by late 2022.

 Commenting, Guy Parsons, Chief Executive of easyHotel plc said:

“I am pleased to report further progress against our strategy as we continue to expand our network of super budget hotels in city-centre locations, both in the UK and across international markets.

 “The board believes that the current economic uncertainties will continue to present attractive investment opportunities for the brand and we look forward to announcing further updates in due course.”

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