Travelodge outlines ambitious expansion plans
The company announced today that it is investing £140m in opening 19 sites over the next twelve months, expanding its portfolio to 542 hotels.
Plans are in place to launch properties in key business locations including London Acton, London Wood Green and Oxford and a series of ‘leisure focused’ hotels in Poole, Weston-Super-Mare, Bicester and Thetford.
Peter Gowers, Travelodge chief executive said: “The value hotel market continues to go from strength to strength, boosted by ever more cost-conscious businesses and the growth in independent leisure travel.
“To meet the growing demand Travelodge is continuing to invest in upgrading and expanding our network. These 19 new hotels, many with our new bar café restaurants, mark another important step in our drive to deliver greater quality for our customers.”
The announcement follows a strong 2015 for Travelodge, with profits rising £40m year-on-year to £261m in the first six months alone.
The company - which celebrated 30 years in business last June - said it had identified potential sites for a further 250 hotels across the UK.
Plans include a series of shopping centre-based hotels and an £80m expansion in Yorkshire.
“We now see opportunity for hotels in 250 further locations across the UK and with early positive development momentum at the start of 2016, we are well positioned to deliver further strong growth in the years ahead,” said Gowers.
