Law firm Stephenson Harwood LLP has advised easyHotel plc on its secondary fundraising, securing £38 million to fund expansion across the UK and Europe.

EasyHotel, the owner, developer, operator and franchisor of budget branded hotels, secured £38 million by placing 38 million shares at 100 pence each on AIM, close to a 20 per cent premium.

EasyHotel operates 1,800 rooms in 13 cities, and has made significant progress, in line with its strategy, to speed up owned hotel development and accelerate the roll-out of franchise hotels since the company's IPO in June 2014, on which Stephenson Harwood also advised.

The Stephenson Harwood team was led by partner Tom Nicholls, with support from senior associate Tom Page.