Travelodge revenue boosted by SuperRooms
Travelodge has reported a 6.6% increase in revenue for 2017, to £637.1 million, with revenue per available room (revPAR) up 2.9% to £40.49.
Full-year pre-tax earnings are up £2.3 million to £112.4 million.
The budget brand says the introduction of SuperRooms, which are aimed at business customers, with additional benefits such as Lavazza coffee pod machines, an ergonomic desk and choice of pillows has boosted sales.
Travelodge plans to convert another 400 rooms to SuperRooms this year, bringing the total number introduced since May to almost 1,400.
CEO Peter Gowers said: "Our continued focus on quality and service is delivering good results.
"Rising sales from business customers, boosted by our new SuperRooms, helped drive strong sales growth, with like-for-like revPAR once again ahead of the competitive segment.
"This helped mitigate the significant macroeconomic and external cost pressures facing the sector and deliver another year of progress for the business."
"Over the last four years we have strengthened Travelodge considerably. We have upgraded our estate, opened over 50 new hotels, launched our new SuperRooms and now have more than 170 hotels with on-site bar cafes.
"While we are not immune to the cost headwinds facing many UK leisure and hospitality businesses, with strong underlying demand for budget hotels and a healthy secure pipeline of new hotels to open, we will be well positioned once the current cost pressures abate."
Travelodge said demand for budget hotels has remained positive since the start of the year.
However, the market is up against tough comparables for last year, which included strong inbound travel owing to the weak pound, and it also faces the impact of new supply growth in what is traditionally a low occupancy period.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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