Budget hotel chain Easyhotel has been acquired by Tristan Capital Partners’ discretionary fund, European Property Investors Special Opportunities (EIPSO 6), in a deal worth over €400m (£336m).
Following the Tristan Capital Partners deal, Easyhotel will continue to bolster its presence across Europe, targeting gateway cities in Spain, Portugal and France.
The group is currently building new hotels in Barcelona, Valencia, Alicante and Geneva, having also secured £80m 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, added: “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.”
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