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ICAMAP increases stake in easyHotel to become major shareholder


ICAMAP is to become easyHotel's largest shareholder, increasing its stake from 29.9 per cent to 38.7 per cent of the company’s share capital.

Harm Meijer, one of the founding partners of ICAMAP, will become a non-executive member of the Board of Directors.
 
The "super-budget" hotel chain was created by Sir Stelios Haji-Ioannou, the founder of easyJet, in 2004. At the end of the placing, easyGroup Holdings Ltd and other parties acting in concert with Sir Stelios Haji-Ioannou, who have been supportive of the transaction, will be the second largest shareholder with approximately a 26 per cent stake.
 
The GBP50 million placing will enable easyHotel to accelerate its development across Europe, following its integrated model of developer, investor, operator and hotel franchisor. The hotel and real estate group owns, operates and franchises already 26 hotels and nearly 2,350 rooms in European major cities. The model, developed around simplicity, comfort and competitiveness of the ‘easy’ brand, enables it to achieve exceptional occupancy levels, combined with high operating margins. Fifteen new hotels and nearly 2,050 rooms are planned for opening in 2018 and 2019 in the cities of Barcelona, Sheffield, Leeds, Ipswich, Cardiff, Milton Keynes and Oxford. In addition, one potential project for 200 rooms expected close to a major French airport.
 
Guillaume Poitrinal, founding partner of ICAMAP says: "We are pleased to be able to contribute to the expansion of one of the finest super-budget hotel concepts on the market. easyHotel will be able to count on our efforts to support the growth of its network in the largest European cities for the years to come."
 

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