easyHotel system sales up 28% despite 'challenging' second half
StockMarketWire.com - Budget hotel group easyHotel reported system sales rose by more than a fifth even as markets had remained challenging in the second half of the financial year, particularly in the UK amid dampened consumer confidence.
For the financial year ended 30 September 2019, revenue was up 56% to £17.6m and system sales rose 28% to £47.8m.
Owned hotels like-for-like revenue per available room (RevPar) was up 7.7%, with franchise like-for-like RevPar down 1.6%
The company said it still expected to open 385 rooms across four hotels in the next financial year ending 30 September 2020. A further 701 rooms were expected to open in the following financial year. At 9:10am: (LON:EZH) Easyhotel Plc share price was +3p at 102p
Story provided by StockMarketWire.com