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.