Contracts were exchanged with Orbit Developments yesterday (Monday) on an 86-bedroom hotel in Stockport and a 67-bedroom hotel in Sale.
The company, which opened its first hotel in Manchester in 1987 and now has 16 hotels in the area, said it was also looking to open a further seven hotels in the Greater Manchester area - two in Manchester city centre, Cheadle, Oldham, Rochdale, Wigan and Worsley - representing an investment of £35m.
Paul Harvey, Travelodge managing director, property, said: “Manchester is at the forefront of the UK boom and is a key growth area for Travelodge. The powerhouse is a vital hub for business, tourism and is also home to four universities. Therefore we are delighted to boost our current portfolio of 16 hotels in the city with two new prime additions in Sale and Stockport.
"However we think there is still a huge opportunity to grow further in Greater Manchester in response to the growing demand from business and leisure visitors for good value accommodation."
Subject to planning applications being approved, the hotels in Stockport and Sale could open by the end of next year.
Travelodge Stockport, on Heaton Lane has taken over part of the space at office block Regent House and will include a Bar Café while the Sale hotel, located close to the metro station, will be created by converting an existing 1980s office building.
As well as buying the hotels in Stockport and Sale, Travelodge has invested £3m in modernising its existing Manchester hotels.