Travelodge targets growth
Budget hotel chain Travelodge aims to grow its estate to 1000 hotels by 2020, making it the fastest-growing budget hotel chain in the UK. In summer 2010, Travelodge boosted the number of properties in its chain to 452, raising its room stock to 30,504 across the UK, Ireland and Spain.
In July the company acquired the leases of 52 Innkeeper’s Lodges from Mitchells & Butlers. Travelodge signed a 25-year lease on the properties, and will invest £10 million to convert the hotels and bring them under the new branding.
Travelodge is committed to growth, announcing the exchange of 13 new hotels in April 2010 with a value of £62 million. The company also aims to be the biggest hotel brand in London by 2012.
Travelodge’s managing director for development, Paul Harvey said: “In the recession we have taken the opportunity to grow where many have put their development on hold. In 2009 we secured more hotels than any other year in our history and have been able to obtain superior sites due to lower property prices."