Exclusive franchisee for the easyHotel brand in the Benelux region
Platform Roll-Out
Special Situation
Overview
Grew the portfolio from 3 to 9 hotels and 946 keys
Achieved a successful full exit of the platform in October 2022
Platform
Year
2015
Asset type
Benelux Budget Hotels
Location
Netherlands, Belgium
Investment Highlights
- Centrally located hotels in key cities across the Benelux
- Attractive roll-out opportunity with high yield-on-cost (12-15%)
- Competitive price point with high EBITDA margins
- Market leading pan-European budget hotel brand
- Strong market fundamentals and moratorium restricting future supply
Achievements
Downside protection
- Whole loan facility provided to easyHotel Benelux to refinance its existing indebtedness and finance pipeline acquisitions
- Acquired a majority stake in the easyHotel Benelux exclusive franchise and expanded the freehold portfolio from 3 hotels (297 keys) to 9 hotels (946 keys) by exit
Enhanced value
- Dedicated hotel management team in place to enhance value
- All hotels were newly developed or refurbished
- The cost-efficient business model benefits from low maintenance costs and minimal Capex requirements
ESG
Portfolio
