easyHotel Continues European Growth with Second Madrid Location

easyHotel San Blas-Canillejas — Photo by easyHotel

easyHotel, the low-carbon, great-value hotel chain, is delighted to announce it has acquired a brand-new hotel in Madrid, Spain, scheduled to open in spring 2025. The new hotel will be the second easyHotel location in the Spanish capital, following the opening of a franchised hotel in late 2022.

Situated in the San Blas-Canillejas district of Madrid on Calle Miguel Fleta, the hotel will feature 94 of the brand's innovative low-carbon rooms, made using recycled and sustainable materials. Each compact guest room is smartly designed to maximise space and includes the brand's Core Comforts, ensuring guests have everything they need for a great night's sleep, such as a 4-star style mattress, air conditioning, and blackout curtains. The hotel will also offer a breakfast restaurant and an outdoor terrace where single-use plastic-free continental buffet breakfasts will be available for guests. Additionally, the hotel will have parking for 31 cars including some electric charging spaces and will provide 11 new jobs in the local area.

The hotel is being developed by Redentum Partners, who successfully completed this turn-key sale to easyHotel under the advisory services of Colliers. The project is already under construction, bringing new life to an office block as it's converted into a new hotel. As part of the development, the buildings energy infrastructure is having a complete upgrade with modern low-carbon initiatives such as the fitting of a hot water aerothermal system, solar panels and a battery management system.

The district of San Blas-Canillejas has experienced significant growth and modernisation over the past two decades, becoming a hub for numerous technology and IT companies. This transformation positions the hotel as a gateway to Madrid not only for tourists but also for business travellers. The area is well-connected, with the Line 7 metro just a 5-minute walk away, allowing guests to reach the city centre in under 30 minutes.

This addition to the Spanish portfolio comes as easyHotel ramps up its expansion across Europe, with a particular focus on Spain. Other hotels are already open in Madrid Centro Atocha, Barcelona Fira and Malaga, with further developments to open in Alicante, Valencia and Barcelona Meridiana in the coming years. Outside of Spain, the brand is growing across Europe where a fourth hotel just opened in Zurich and a hotel in Marseille is due to open later this year. The new Madrid hotel brings the brand's total number of hotels to 49.

The great value hotel brand is growing its network of low-carbon hotels on the back of strong performance with 2023 revenue across its owned and leased network doubling and total sales passing €100 million for the first time.

Part funding for the new hotel is coming from the brands shareholders with a second tranche of its €50 million equity commitment by Ivanhoe Cambridge and ICAMAP in 2021. This second tranche of €23 million was scheduled for release when the company reached the milestone of 49 hotels, demonstrating it is delivering on its strategy.

Karim Malak, CEO of easyHotel, commented: "Spain is an incredibly important market for us as we're seeing huge demand for branded great-value hotels across the country. As part of the easy family of brands, we benefit from leading brand awareness in Spain, which has been welcoming easyJet flights for almost 30 years. Our Madrid San Blas hotel is our second Spanish signing of the year and we're exploring many more owned, leased and franchised opportunities as we look to grow our network of low-carbon hotels across Europe."

Hotel website