European value hotel operator easyHotel has confirmed that it is exploring options for a possible sale.
Founded in 2004 by Stelios Haji-Ioannou, the company now operates 49 hotels in 11 countries, with around a third of its properties located in the UK.
It has 17 franchise hotels with 1,250 rooms and 32 owned and leased hotels with more than 3,500 rooms.
This portfolio includes the easyHotel Paris Nord Aubervilliers, the easyHotel Basel and more.
The investment companies ICAMAP and Ivanhoé Cambridge currently hold a 79% stake in the company.
SkyNews has reported that the potential deal could value easyHotel at around £400 million ($529 million).
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A spokesperson for easyHotel said: “As we continue to expand with new hotels, our major shareholders ICAMAP and Ivanhoé Cambridge are exploring new financing opportunities to support our future growth, which may include new investors and other options.
“This is an exciting step as we prepare for the next chapter of our growth.”
Alternative asset management firm TPG has been shortlisted and made it to the second round of the auction process, reported SkyNews.
The real estate fund Proprium Capital Partners is also said to have shown interest in taking over easyHotel.
easyHotel is currently in talks with several potential buyers. NM Rothschild & Sons is representing easyHotel exclusively in the transaction process.
In a statement to the London Stock Exchange, the company said: “The Board of EasyHotel Limited acknowledges recent speculation in the media and confirms that it is considering various strategic options for the Company, including the potential sale of all of the issued and to be issued share capital of the Company.”
At the beginning of the year, easyHotel introduced a new company-wide property management system (PMS) from Apaleo.
There was a transition from traditional PMS to more adaptable, API-driven platforms.
