European budget hotel business easyHotel has been acquired by investor Tristan Capital Partners, in a deal that values the business at EUR242 million.
The deal will give fresh impetus to the brand, which in recent years has grown under the ownership of ICAMAP and Ivanhoé Cambridge after they took the business private in 2020. Sir Stelios Haji-Ioannou, the creator of the easy family of brands has also given his blessing to the transaction. He and his family have agreed to sell their 17.38% stake, and will retain an interest with easyHotel continue to pay a royalty for use of the brand name.
A committed investor
“Tristan’s funds have established a leading presence in the European budget hotel sector, with this transaction bringing the total committed hotel investments to in excess of EUR1 billion to date,” said Kristian Smyth, managing director for investments at Tristan Capital Partners. “The budget hotel sector forms a core part of Tristan’s European investment theses, reflecting the firm’s conviction in the long-term growth potential of this under-represented sector.”
Smyth added: “The easyHotel brand perfectly complements our growing platform through its incredibly strong brand recognition with a product that offers compelling value in centrally located destinations. We expect to materially expand the existing footprint of the platform and build on our thematic, operationally driven approach.”
In 2022, Tristan acquired the Point A budget hotel business in the UK, in a GBP420 million deal. It has since added to that portfolio by purchasing another site in Edinburgh for a new Point A hotel.
The easyHotel business has 44 hotels operating across Europe, with 4,900 rooms. It has a strong presence in the UK, France, the Netherlands and Belgium with sites also in Bulgaria, Germany, Hungary, Ireland, Portugal, Spain and Switzerland.
During 2025 and 2026, easyHotel’s development pipeline will see it open four Spanish hotels in Alicante, Barcelona, Madrid and Valencia, plus another French hotel planned to open in 2027. Within the group there are a mix of property formats: 16 hotels are franchised, with 28 owned or leased.
Over 20 years in the making
The original easyHotel business was launched in 2004, and the business was floated on the UK stock market in 2014. After strategic share buying, new owners ICAMAP and Ivanhoe Cambridge took the business private in 2020. They have invested heavily in the business, enhancing existing properties to deliver a portfolio with a much lower carbon footprint, and lower operating costs. Most recently, the easyHotel in Victoria, London saw a GBP2 million investment in upgrading the property that will reduce energy use per stay by 19%.
Tristan Capital Partners will be holding the investment in easyHotel in its European Property Investors Special Opportunities 6 fund, alongside the Point A hotels business. A merger of the two hotel groups may well be under consideration by the new owners.
