Sir Stelios comments on easyHotel 2019 YE results
Commenting on the super budget hospitality chain’s full year results (to be found at www.londonstockexchange.com),
Sir Stelios said:
“When easyGroup made the conscious decision not to sell its 28% stake at the price offered by Icamap and Ivanhoe Cambridge, we knew we would be a significant blocking minority but they would still have control of the company.
“Inevitably when a majority shareholder is looking to aggressively grow the company it means other investors shouldn’t expect to see dividends (or profits for that matter) in the short run.
“We will go along for the ride! However we are still perplexed why they have not progressed with the capital increases they promised in order to double or even triple the number of hotels in the portfolio? We shall see what happens next…”