TPG has been shortlisted to buy the easyHotel business, Sky News has reported.
The alternative asset management firm has made it to the second round of the auction process which aims to see the hotel chain sold for about £400 million.
79.1 per cent-owned by ICAMAP Investments and Ivanhoé Cambridge, easyHotel has an estate of around 50 hotels across 11 countries, representing 5,000 rooms. Its network is made up of 17 franchised hotels and 32 owned and leased hotels. Stelios Haji-Ioannou’s easyGroup owns majority of the remaining 20.9 per cent.
Earlier this year, easyHotel secured a £42.5 million loan from Santander UK with the aim of opening a further 120 hotels by 2028.
Hospitality Investor has approached TPG for comment.
What they said
A spokesperson at easyHotel said: “As we continue to expand with new hotels, our major shareholders, ICAMAP and Ivanhoé Cambridge, are exploring new financing options to support our future growth, which may include new investors as well as other options. This is an exciting step as we prepare for our next chapter of growth.”