EasyHotel, a leading international budget hotel operator, has signed deals for new hotels in Iran and Sri Lanka, said a report.

The deals, signed with British companies 3SV Limited and MHA Hatfield Limited, will see 500 planned rooms in Iran and over 200 rooms in Sri Lanka, 100 of which should be ready by 2022, businessinsider.com reported.

"I am pleased to announce a further extension of our franchise network, enabling us to establish the brand's presence in new territories where there is growing demand from cost conscious consumers for value hotel accommodation," the report said citing Guy Parsons, CEO of easyHotel.

EasyHotel's core markets are the UK and Europe and it currently owns five hotels in the UK, with an additional 20 franchised hotels in the UK and abroad, including in Dubai and Kathmandu.

It hopes to expand into 'existing new markets', said Parsons, and has 1,936 rooms in development.