When Guy Parsons became chief executive of Easyhotel in August 2015, the budget hotel operator was in some disarray. It had just reported disappointing half-year results, its hotel opening programme was off the pace and its shares were languishing at about 70p, 10p below the previous year’s flotation price (Dominic Walsh writes).
Under Mr Parsons, its fortunes have been transformed. The former Travelodge chief executive, whose career has included spells at Travel Inn (now Premier Inn) and Novotel, revamped the group and, crucially, kick-started expansion, raising funds for acquiring and developing new hotels while upping the ante on franchise deals.
Until last May the plan appeared to be going swimmingly and the share price duly improved, reaching a peak of 128p.
Despite progress on most