ADVERTISEMENT

No-frills easyHotel to open in Budapest next spring

Hotels

Low-fare airline easyJet is to open an easyHotel in Budapest in spring. The easyHotel will be the third in Europe, easyJet founder Stelios Haji-Ioannou announced at a press conference in Budapest on Monday.

The hotel will be run under a franchise agreement by Medscan Kft. Kornél Tokics, one of MedScan's owners, said the 60-room hotel, which will cost 210 million forints (€810,000) to set up in Budapest’s District 6, is expected to have occupancy of at least 60%-65%. Because bookings will only be made online, and because guests will pay for some services, such as fresh towels, separately, rates will be lower than at conventional hotels, starting at €29 a night and not rising too far over that, Tokics said. He added that MedScan plans to recoup its investment in ten years.
Haji-Ioannou said franchise partners must pay a one-off fee of ₤25,000, followed by 5%-7% of annual revenue. One easyHotel is already operating in London and another will soon open in Basel. 41 more will open in London, as well as India, the Middle East and Africa in the coming five years, he said.

ADVERTISEMENT

Household income improved in Q1 Analysis

Household income improved in Q1

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.