TRAVELODGE PLEDGE TO SPEND £45 MILLION ON NEW HOTELS IN BIRMINGHAM
20th Jul 2007
Travelodge, the UKs fastest growing hotel company, today announces an unprecedented growth drive in birmingham, pledging to add around 1,500 rooms (approx 15 hotels) in the region by the year 2020.
The programme will create roughly 300 jobs and mean an investment of over £45 million in new hotels.
The Midlands growth drive is part of an unparalleled national openings programme for the budget hotel chain. From 2008 it aims to add on average 4,000 rooms (approx 40 hotels) every year up to 70,000 rooms (around 1000 hotels) by 2020 - targeting a 10% share of the hotel market.
In line with these plans the UK's leading budget hotel chain, also today announced the conditional exchange of contracts with developer RO St Bernards Limited (ROSB) on a new hotel development site in Birmingham. The 100-room hotel will be located at Newhall Square, Birmingham B3, and is part of the regeneration of the former Science Museum. It represents an investment of more than £5 million and will create 25 jobs.
Tony O'Brien Travelodge's Development Director said; "As part of our unprecendented growth plans we pledge to invest over £45 million in Birmingham. As the UK's second city, Birmingham is attracting huge investment that is encouraging regeneration in the area. This coupled with strong tourist attractions is drawing millions of visitors to the region."
Within the last 12 months, Travelodge has invested a total of £11 million in Birmingham, growing its number of hotels by 50% (a total of 11 hotels, 752 rooms) in order to meet the city's growing demand for budget accommodation. To make hotels more accessible to Birmingham's annual 2.5 million overnight visitors, Travelodge is offering rooms from as little as £15 per night. The best deals can be found via travelodge.co.uk
Lawrence Parnell, managing director of ROSB, said: "This is the first major pre-let at Newhall Square and a significant anchor for the development. We anticipate that the hotel will be a major draw for other users of the scheme."
"There are currently no hotels within the Jewellery Quarter, despite its status as a major visitor destination for Birmingham. Our location, on the city-facing fringe of this area, means the Travelodge will be a much welcomed addition to the city's hotel offer."
ROSB has completed the first phase of demolition on the 2.3acre site, and construction will start on site later this year. The hotel will be ready for occupation in autumn, 2008.
Neil Bowler of Jenics, Travelodge's retained agent for the Midlands, acted on Travelodge's behalf.
For more information contact:
Shula Gillam, PR Executive - 01844 358703 (for Travelodge enquiries)
Dawn Roberts or Lindsay Gilbert, Headline Communications - 0121 212 0559 (for ROSB enquiries)