Budget hotel chain Easyhotel edges closer to profitability

EASYHOTEL has made significant strides in reducing its losses, moving closer to profitability for the first time since the onset of the Covid-19 pandemic.

- JON ROBINSON

The budget hotel chain, headquartered in London, reported a pre-tax loss of EUR1.8m (£1.5m) for 2024, a substantial decrease from the EUR10.5m (£8.9m) loss recorded in 2023.

This is the smallest pre-tax loss Easyhotel has posted since it fell into the red in the year ending September 2019, with total pre-tax losses amounting to around £60m since then.

According to new accounts filed with Companies House, Easyhotel’s revenue rose from EUR77.3m to EUR80m in 2024.

The hotel chain was established by Greek Cypriot entrepreneur Stelios HajiIoannou in 2004 and went public in June 2014 before delisting from AIM in 2020.