Budget hotel chain easyHotel revealed a jump in sales this morning as the company expanded its presence in Europe, especially the UK.
Total sales jumped 39 per cent as five new hotels in Birmingham, Manchester, Brussels and Amsterdam were opened in the year to 30 September.
Like-for-like revenue at owned hotels increased by 13.7 per cent and 8.6 per cent for franchised sites.
Read more: Consumer spending fell again in September
Why it's interesting
Although easyHotel has benefited from the weaker poud driving more overseas visitors to the UK in line with the rest of the industry, most of its growth is down to domestic travellers.
"People stay at our hotels because they're doing something else: they're going to a concert or a football match," chief executive Guy Parsons told City A.M.
He added that the group, again in line with the industry, had not seen a dip in bookings at UK sites, including the recently opened Manchester hotel, over terror fears.
In the UK, Ipswich, Leeds and Sheffield are all set to get new sites in 2018 while another site in Oxford will open in 2019.
Elsewhere, franchised hotels are planned in Lisbon, Dubai and Belfast.
What easyHotel said
Commenting on the hotel chain's rapid expansion, chief executive Guy Parsons said: “The strong like-for-like performance of both our owned and franchised hotels and their continued outperformance against the market is very encouraging. We are particularly pleased by the performance of our newly opened hotels, designed in our stylish new brand format, which are proving popular with our customers and trading ahead of expectations.
“Our network, including pipeline hotels, has increased by more than 1,100 rooms, or 32 per cent, during the financial year, with 2,270 rooms now open (25 hotels), and a committed pipeline of 2,400 rooms. The Board is confident that we are very well positioned to continue expanding into the near future.”