EasyHotel plc has conditionally acquired a leasehold site in central Blackpool to develop a purpose-built, freehold easyHotel subject to planning permission.
The Blackpool property follows the recent opening of three other hotels, in announce Leeds, Sheffield and Barcelona, as well as two franchised hotels in Reading and Belfast.
The total number of owned rooms is now 1,130 with a further 1,938 franchise rooms now open.
EasyHotel group has acquired a 999-year lease on a site at 429 The Promenade, Blackpool, less than 500 metres from Blackpool South Station.
The Blackpool accommodation market is dominated by small unbranded hotels and B&Bs, 93% of which have no quality grading.
This creates an opportunity for easyHotel to deliver a guaranteed standard of accommodation to those visiting Blackpool, the company said.
The site will be developed for a purpose-built hotel and two A3 units for restaurants or cafes on the ground floor, which are expected to be sold once the development has completed, and the units have been let.
The hotel is expected to open during the group’s 2020/21 financial year. The total forecast net cost of acquisition and construction will be £7.6 million.
CEO Guy Parsons said: "The five hotels that we have recently opened have traded strongly from day one and we are delighted with the positive customer reaction to our stylish new brand format.
"Blackpool is a prosperous and lively city and is hugely popular with UK and international visitors.
"Once open, easyHotel will make a major contribution to the local hospitality trade.
"Our super-budget offer will enable visitors to have affordable, comfortable, stylish accommodation at the heart of Britain’s seaside culture and keep money in their purses and wallets to spend on local attractions."
