Leading hotel chains have their eyes on Mallorca.

Leading hotel chains have their eyes on Mallorca. | Majorca Daily Bulletin reporter

Humphrey CarterPalma24/01/2025 15:31
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Value hotel chain, easyHotel has further strengthened its financial position by securing a £24.5 million loan from Spanish Bank, CaixaBank to support its continued expansion into the Spanish market. The new funding will be used to support easyHotel’s development of four new properties in Spain, beginning with Madrid, which is set to open this Spring, followed by Valencia and Barcelona later in 2025, and Alicante in 2026. Together, these hotels will add 361 rooms to easyHotel’s owned and leased property network, marking a significant step in its expansion into key Spanish cities.

In line with the brand’s commitment to sustainability, these properties will feature innovative low-carbon rooms designed to emit 20% less CO2 over a 50-year lifecycle compared to competitors.
With current properties such as the Barcelona Fira already proving to be a financial success in the Spanish market, easyHotel is expanding its focus in the country by working closely with local developers to unlock opportunities for new hotels in dynamic hubs like Madrid, Barcelona, and Seville, as well as growing destinations such as Palma, Zaragoza, Cordoba, and Bilbao.

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Pedro Fiol, the president of Aviba, the Balearic Association of Travel Agents, told the Bulletin that the region may have reached a tipping point and needs to have a serious think about the direction in which it wants the tourist industry to travel in the

“Mallorca can’t continue putting prices up but offer nothing new”

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By blending local market knowledge with the strong recognition of the easy brand, easyHotel is able to resonate with both domestic and international guests and aims to expand its footprint across Spain, offering more affordable and low-carbon stays for travellers. This loan from CaixaBank follows a £42.5 million loan secured Santander UK to support its European expansion, alongside an additional £6 million loan from BRED Banque for the opening of a 111-room hotel in Marseille.

“We’re seeing huge demand for affordable hotels in Spain, and we are thrilled to be working with CaixaBank to help fuel our expansion across this key market. This financial backing adds to the refinancing we announced earlier last year and demonstrates the strong support for our easyHotel proposition as we grow our owned and leased network, capitalising on the easy brand’s strong reputation and appeal. With a positive outlook, a robust development pipeline and franchise opportunities for hoteliers, we’re looking forward to welcoming more guests to easyHotel than ever before across Spain,” said Karim Malak, CEO of easyHotel.

easyHotel is an affordable, low-carbon chain of value hotels. It was founded in 2004 by Sir Stelios Haji loannou, who launched easyJet, and is now 79.1% owned by ICAMAP Investments and Ivanhoé Cambridge. easyHotel is surging its expansion across Europe in the coming years, leveraging the leading easy brand awareness. The company aims to strengthen its presence in key markets such as France, Spain, Germany and the UK, whilst developing in new markets, including Italy, Greece and Poland.