Travelodge on expansion trail
Monday, 19 Jan, 2011
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Travelodge has announced it is to expand its UK portfolio by 35 hotels, creating 700 new jobs.
The £300 million expansion plan is the beginning of a major growth strategy that will see the budget chain grow its estate to 1,100 hotels by 2025. Currently, the chain has 460 properties in the UK.
Chief executive Guy Parsons said: “The hotels we will build this year have been a result of Travelodge’s commitment to expand during the recession whilst many companies put their development on hold.
“Last year we exchanged on 96 sites making it a record year. Fifty two of these exchanges were part of the biggest transaction in the hotel sector since 2008 with the pub chain Mitchells & Butlers.
“As a result of the recession, we have successfully acquired superior sites due to lower market property prices, which otherwise would not have been available for hotel use.
“We have demonstrated our commitment to expand and have a clear growth plan laid out which means we will reach over 1,100 hotels and 100,000 rooms by 2025.”
by Dinah Hatch
Dinah
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