Tristan Capital Partners has completed the acquisition of easyHotel at an equity value of around €242m (£203.6m).
The hotel chain, acquired from former shareholders ICAMAP, Ivanhoé Cambridge, and Sir Stelios, will sit within the European Property Investors Special Opportunities 6 fund. Tristan has mooted its intention to inject additional resources in strengthening and expanding easyHotel’s offering.
The close of the transaction coincides with the release of easyHotel’s financial results for 2024, which have showed solid operational performance and progress in its European expansion.
During the past year, easyHotel has launched a new 111-room hotel in Marseille, France, a fourth franchisee hotel in Zurich, Switzerland, and refurbished properties in Glasgow and Nice, France.
The brand’s European expansion has led to two thirds of total revenue now coming from outside of the UK, with 2024 system sales rising 4% to a record £91.2m. Additionally, easyHotel has secured £80m in refinancing and new debt.
Karim Malak, chief executive of easyHotel, said: “With Tristan Capital Partners now fully on board, we’re entering a 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 cities.”
Kristian Smyth, managing director for investments at Tristan Capital Partners, said: “Tristan’s funds have emerged as a leader in the European budget hotel sector, with this transaction bringing the total committed hotel investments to more than €1bn to date.
“The easyHotel brand complements our growing platform with an offering that delivers value in centrally located destinations. We look forward to growing the easyHotel platform as part of our long-term strategy in the sector.”
Image: easyHotel
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