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easyHotel plc Annual report and accounts 2015 About easyHotel‌


easyHotel has an estate of 21 operational hotels comprising circa 1,500 rooms at hotels operated by franchisees and 400 rooms owned and operated by easyHotel. Two new franchisee hotels opened in first half of 2015 (Frankfurt and Prague) with further hotels (Brussels and the Middle East) already set to open by the close of 2017.


Amsterdam

Basel Berlin Budapest

The Hague Dubai Edinburgh

Glasgow

(owned) Frankfurt

London Old

Street (owned)

London Croydon

(owned)

London Earls Court

London Heathrow

London

Paddington

London South Kensington

London Victoria London Luton Prague Rotterdam Sofia

Zurich


easyHotel owned

easyHotel Franchise


Strategic report


Governance Financial statements


Highlights of the year


Financial highlights

Performance in line with Board expectations


Total system sales*

£19.95m

Profit before tax

£0.79m


£17.33m

2014

£19.95m

2015

£0.57m

2014

£0.79m

2015



Cash generated from operations

£2.29m

Basic earnings per share

1.0p


£1.11m

2014

£2.29m

2015

1.2p

2014

1.0p

2015


Proposed maiden final dividend

0.33p

per share

* Total system sales is the full amount that the customer pays for our owned and franchised hotels, including initial sign-on fees paid by franchisees to the Company.



Business highlights


  • Appointment of new CEO and CFO with proven experience in building successful budget hotel chains.

  • 21 easyHotels now operating in 14 cities in eight countries with 1,880 rooms (2014: 1,606).

  • Owned hotel rooms increased by 103 in the year to 390 following the opening of Croydon.

  • Acquisition of sites in Manchester (subject

    to completion) and Liverpool - both hotels are

    anticipated to open in 2016/2017 financial year.

    Strategic report

    IFC About easyHotel

    1. Highlights of the year

    2. Chairman's statement

      4 Chief Executive Officer's review

      8 Business model and strategy

      10 Chief Financial Officer's review

      1. Principal risks and uncertainties


        Governance

      2. Board of Directors

      3. Chairman's corporate governance report

      4. Directors' report

      5. Audit Committee report

      6. Remuneration report

        1. Statement of responsibilities


          Financial statements

        2. Independent auditors' report

        3. Consolidated statement

          of comprehensive income

        4. Consolidated statement of financial position

        5. Consolidated statement of cash flows

        6. Consolidated statement of changes in equity

        7. Company statement of financial position

        8. Company statement of cash flows

        1. Company statement of changes in equity

        2. Notes forming part of the financial statements

        IBC Directors, secretary and advisers


        Further information and investor updates can be found on our website at http://ir.easyHotel.com



        Post-year end developments


      7. Master Development Partnership signed with MAN Investments for the planned development of over 1,600 rooms in the UAE and Oman by end of 2020.

      8. Benelux franchisee secured planning consent

      and financing for a 107 room easyHotel Brussels

      • expected to be opened by early 2017.



        easyHotel plc Annual report and accounts 2015 1

        Strategic report

        Chairman's statement


        "Trading has been in line with Board expectations during a period of management change. We now have a real opportunity to improve the performance of our existing portfolio and to accelerate expansion."


        Jonathan Lane OBE

        Non-Executive Chairman




        Summary

        • Trading in line with Board expectations

        • Number of rooms available increased and brand extended

        • Appointment of new, proven executive team

        • New focus to the strategy with actions taken to accelerate growth

      I am pleased to report that after a period of management transition, trading has been in line with Board expectations. easyHotel continues to expand the number of rooms available and extend its brand.

      This last year saw important changes with the appointment of a new, proven executive team including additional senior management. This team, which will only be fully in place by February 2016, has extensive budget hotel experience, and is already bringing new focus to the strategy with a clear view on how to accelerate the growth of both our owned and franchised hotel network.

      Dividend

      The Board is pleased to confirm that it is recommending a maiden final

      dividend of 0.33p per ordinary share. If approved at the AGM to be held on 21 January 2016, the dividend will be payable on 1 February 2016 to shareholders on the register on

      8 January 2016.




      2 easyHotel plc Annual report and accounts 2015

      easyHotel plc issued this content on 2015-12-23 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-14 16:51:09 UTC

      Original Document: http://ir.easyhotel.com/index.php/download_file/view/59/138/