EasyHotel boss backs British market despite Brexit fears
The boss of easyHotel has said the UK is still a “great place to do business” despite Brexit uncertainty hitting the hospitality sector, as the budget chain reopens its flagship London site.
Speaking to PA at the official opening of easyHotel Old Street, chief executive Guy Parsons said his company would continue to invest in Britain as it targets 25 sites around the country.
“Our performance is strong but we’re very mindful of what’s taking place in the wider economy and the impact it could have on our business,” he said.
“Fundamentally I still think the UK economy is going to be strong, it will still be a good place to do business in.”
Commenting on the impact of Brexit, he said both consumers and businesses had slowed spending due to a lack of clarity.
“The hotel industry relies on confidence,” he said.
“Businesses need certainty and until we know what’s going to happen at the end of October, people are more likely to have a wait and see approach.”
His comments came as the 89-room Old Street branch opened its doors again following an extensive renovation. The no-frills accommodation starts at £49.99 a night.
Mr Parsons told PA there was room for as many as 25 sites in the UK. The brand currently has 11 owned sites in the UK and six through franchise agreements.
He said most of the expansion would be achieved through franchise agreements, but that the company was eyeing up Bath, York and Edinburgh as locations for owned hotels.