European value hotel operator easyHotel has confirmed that it is exploring options for a potential sale.

Founded in 2004 by Stelios Haji-Ioannou, the company now operates 49 hotels across 11 countries, with approximately a third of its properties located in the UK.

It has 17 franchised hotels with 1,250 rooms and 32 owned and leased hotels with more than 3,500 rooms.

This portfolio includes easyHotel Paris Nord Aubervilliers, easyHotel Basel, and more.

Investment companies ICAMAP and Ivanhoé Cambridge currently hold a 79% stake in the company.

SkyNews has reported that the potential deal could value easyHotel at approximately £400m ($529m).

An easyHotel spokesperson 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.”

Alternative asset management company TPG has been shortlisted and has advanced to the second round of the auction process, reported SkyNews.  

Proprium Capital Partners, a real estate fund, is also reported to have shown interest in acquiring easyHotel. 

easyHotel is currently in discussions with several potential purchasers. N M Rothschild & Sons is acting exclusively for easyHotel in the deal proceedings.  

The company stated in a London Stock Exchange filing that: “The board of EasyHotel Limited notes the recent media speculation and confirms that it is exploring various strategic options regarding the company, including the possible sale of the entire issued, and to be issued, share capital of the company.” 

Earlier this year, easyHotel deployed a new property management system (PMS) provided by Apaleo across its entire business. 

It transitioned from traditional PMS to more adaptable, API-led platforms.