INRnews - Indian Real Estate News

easyHotel opened its first hotel in London in August 2005 and a second one in Switzerland in September 2005. It offers short-stay travelers a safe and quality option at around £40 a night in central London, about half the price of other branded budget hotels. Designed for city centres, it offers consumers a recognised brand that delivers a standardised high quality product and banks on customers accepting small, no-frills and simply furnished rooms. All easyHotel bookings are taken by credit card through the easyHotel.com website.

The agreement with Istithmar will now expand the easyHotel brand across the Indian sub-continent. This matches the market demand for branded budget hotels in view of the exponential growth in the mid-scale segment across the region.

According to Stelios "easyHotel is all about low costs and high efficiency and offers our guests well-equipped, clean and safe, en-suite facilities in urban centres, where customers can accept a smaller space for a smaller price. Our expansion into the Middle East, North Africa and the Indian sub-continent will be managed by Istithmar Hotels and demonstrates our company's strategy of building our brands globally by working with world class partners like Istithmar PJSC."

Istithmar launched Istithmar Hotels, a subsidiary formed to oversee investments in the hospitality and leisure sectors. The group is tapping hotel properties across the globe, with key investments being made in gateway cities such as New York and London as well as select emerging markets.