EasyHotel CFO Darren Mee resigns

EasyHotel, the discount hotel chain founded by Sir Stelios Haji-Ioannou, has said its chief financial officer has resigned.

Darren Mee has stepped down just six months after the company floated on the Aim market. He will leave the firm on January 29.

EasyHotel said in a statement that Mr Mee has left "to pursue another opportunity", but gave no further details. The search for a successor will start soon.

Simon Champion, chief executive, said: "The Board would like to thank Darren for his substantial contribution to the company this year and helping us achieve our successful listing on AIM."

EasyHotel, the sister company of budget airline brand easyJet, planned to raise up to £60m in its Aim market flotation in June. However, weakening investor sentiment meant the company only raised a total of £30m.

In addition, the company only raised £22m from institutional investors, as Sir Stelios’s easyGroup pumped a further £7.8m into the hotel company. The extra investment means Sir Stelios owns 55.7pc of the company, although he has reduced his voting rights to 49pc.

The lower than expected amount of money raised was considered a disappointment for the leisure magnate as easyHotel is Sir Stelios’ first flotation in 14 years, after the listing of easyJet on the stock exchange.

Simon Champion, chief executive of easyHotel, said the IPO launch had come at a difficult time in the market where there was an element of investor fatigue.

Sir Stelios launched the budget hotel chain in 2004 under his easyGroup umbrella brand. The business now has 19 hotels, 17 of which are franchises, spread from Edinburgh to Johannesburg and Dubai including seven hotels in London. The IPO proceeds will fund 5-10 new hotels being built.