EasyGroupThe company behind Sir Stelios Haji-Ioannou‘s ‘easyBudget hotel chain to be sold by ‘family brands EasyHotel to real estate investment management company Tristan Capital Partners.
Tristan is taking over EasyHotel’s outstanding share capital for €196.13 million (about $222 million). When added to its prior stake, the transaction values the brand at around €242 million ($274 million).
August last year, Skift reported EasyHotel is “exploring different strategic options, which could include a possible acquisition”. The speculation had put the valuation at $500 million. This was significantly higher than the final deal value.
This deal represents a growth in comparison to 2019, when EasyHotel decided to delist its shares from London’s AIM stock exchange. At that time, investment firms ICAMAP and Ivanhoé Cambridge (the real estate division of CDPQ) acquired a majority stake in a deal that valued the company at about $170 million. In 2020, they took the company public.
EasyHotel founder EasyHotel also holds a 17% stake in the Tristan hotel deal Haji-Ioannou The family of the owner has fully renounced their ownership. Haji-Ioannou established EasyHotel back in 2004.
Haji-Ioannou could still benefit from EasyHotel’s brand in the long-term, even though it didn’t grow to the same size as EasyJet. His EasyGroup will license the EasyHotel.com name to the company, in exchange for a “reasonable royalty.”
Budget Hotels: A Good Bet
Tristan Capital Partners, a London-based real estate investment management company with over €15 billion in assets under management, has been expanding its hospitality portfolio in recent years, particularly in the budget hotel segment.
In April 2022, Tristan acquired a majority stake in Point A Hotels for around £420 million ($560 million), with plans to double its portfolio across the UK and Ireland.
The firm also provided a €165 million (about $187 million) senior financing package to the Paris-based Centaurus Group in April 2024 to support its 43-hotel portfolio. It purchased a 261 key hotel in Manchester, UK that was rebranded Yotel.
Future Growth
EasyHotel has approximately 50 hotels, with 4900 rooms, in 13 European nations, including the UK. Spain. Germany. and The Netherlands. The portfolio consists of 32 owned, leased and franchised hotels.
New hotels are set to open in Spain in 2025 and 2026, including properties in Alicante, Madrid, and Barcelona, which will complement existing locations in Barcelona and Málaga.
Accommodations Sector Stock Performance Year-to Date
What am i looking at? The performance and stock prices of the hotels and short term rental sector within the ST200. The index comprises companies listed on global markets including international and local hotel brands, REITs in the hotel industry, hotel management firms, alternative accommodation, timeshares and other hotel companies.
The Skift Travel 200 This number combines the financial results of 200 travel agencies worth more than one trillion dollars. See more hotels and short-term rental financial sector performance.
Read the full methodology behind the Skift Travel 200.
