Simon Thompson 

easyHotel cashed up for expansion

Simon Thompson

Simon Thompson
easyHotel cashed up for expansion

I turned buyer on the Aim-traded shares of easyHotel (EZH:124p) shortly after the budget hotel operator successfully raised £48.8m net of expenses at 110p a share in a placing to boost cash balances to £71m (‘Small-cap earnings beats’, 21 March 2018). The proceeds and £33m of enlarged debt facilities (£13.1m utilised at 31 March 2018) will be used to accelerate the company’s owned hotel development pipeline in the UK and Europe.

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