Finance: Budget brand easyHotel is planning to expand into Iran

The budget hotel chain has announced development plans for hotels in Iran and Sri Lanka.

LONDON – easyHotel has announced plans to open branches in Iran and Sri Lanka, with an anticipated 500 rooms in Iran alone.

The "super budget" hotel, part of the group that owns budget airline easyJet, said on Monday it signed deals with British companies 3SV Limited and MHA Hatfield Limited for developments in the two countries, which will comprise a combination of new-build hotels and takeovers.

In addition to the 500 planned rooms in Iran, the company expects to open over 200 rooms in Sri Lanka, 100 of which should be ready by 2022.

"easyHotel has made good progress over the last year against its plans for the international expansion of the brand," said Guy Parsons, CEO of easyHotel.

"I am pleased to announce a further extension of our franchise network, enabling us to establish the brand's presence in new territories where there is growing demand from cost conscious consumers for value hotel accommodation," he said.

The Iranian government is trying to grow its tourism industry and hopes to attract more than 20 million tourists by 2025. Meanwhile, Sri Lanka attracted over 2 million visitors in 2016 alone. easyJet does not currently fly to Iran or Sri Lanka, although is partnered with Emirates Iran.

easyHotel's core markets are the UK and Europe and it currently owns five hotels in the UK, with an additional 20 franchised hotels in the UK and abroad, including in Dubai and Kathmandu. It hopes to expand into "exiting new markets," said Parsons, and has1,936 rooms in development.

from pulse.ng - Nigeria's entertainment & lifestyle platform online