Budget hotel chain Easyhotel has been acquired by European Property Investors Special Opportunities Fund 6 (EIPSO 6), managed by Tristan Capital Partners, in a deal valued at more than €400 million (£336 million).
The deal transfers full ownership of Easyhotel’s shares to the London-based real estate investment company.
Before this transaction, 50% of the hotel group’s shares were held by Bidco, a consortium of ICAMAP and Cadim Fonds, after a £138.7 million takeover in 2019.
In the past three years, Easyhotel has transformed from a UK-focused, asset-light business into a company that now earns two-thirds of its total revenue from international markets.
In its latest year-end results, the group reported £91.2 million in system sales, marking a 4% increase from the previous year, along with £6 million invested in low-carbon initiatives.
After the acquisition by Tristan Capital Partners, Easyhotel plans to strengthen its footprint across Europe, focusing on key gateway cities in Spain, Portugal, and France.
The group is currently developing new hotels in Barcelona, Valencia, Alicante, and Geneva, supported by £80 million in refinancing.
Karim Malak, chief executive of Easyhotel said: “Over the past three years, we have successfully transformed Easyhotel into a strong pan-European owner and operator...we’ve continued to build momentum, with record levels of market share, guest satisfaction and direct bookings driving our highest-ever system sales.
'With Tristan Capital Partners now fully on board, we’re entering an exciting new chapter. Their sector expertise and capital backing come at a time of rising demand for affordable, low-carbon hotels and will help accelerate our expansion across Europe’s most dynamic gateway cities.”
Kristian Smyth, managing director, investments, at Tristan Capital Partners, said: “The Easyhotel brand perfectly complements our growing platform with a compelling offering that delivers great value in centrally located destinations. We look forward to significantly growing the Easyhotel platform as part of our long-term strategy in the sector.”
Easyhotel was founded in 2004 and currently operates around 50 hotels, including 16 franchised locations and 32 owned or leased properties.
The brand originated as a spin-off from Sir Stelios’ EasyGroup, which is famously known for the budget airline EasyJet, with its first hotel opening in London’s Kensington.
