EasyGroup boss Sir Stelios Haji-Ioannou in row over easyHotel chiefs' pay

EasyGroup boss Sir Stelios Haji-Ioannou has gone on the warpath over executive pay at his budget easyHotel chain, the latest attack from the Greek billionaire on pay at easyGroup-affiliated companies.

Haji-Ioannou’s group, which owns 49% of easyHotel’s voting rights, will vote against the remuneration package at this Thursday’s annual meeting in a protest at spending at the hotels chain.

He said while revenues are expected to grow up to £7.6 million this year, net pre-tax profits will remain flat at £800,000.

“EasyGroup has previously made these concerns clear to the easyHotel board in the normal course of shareholder/company dialogue,” it said.

Easyhotel said: “The board of easyHotel recognises that from time to time there may be differences over the approach to the implementation of the agreed strategy.”

Haji-Ioannou has been a critic of pay at budget airline easyJet.

The entrepreneur founded easyJet in 1995 and is worth an estimated $1.52 billion (£1.06 billion) today.