TRAVELODGE EXCHANGES ON 10 NEW HOTELS FOR £61M
22nd Feb 2010
Travelodge, the UK's fastest growing hotel chain, has today announced the exchange of 10 new hotels at a combined investment value of £61 million, delivering an additional 1,133 rooms. The expansion will create 300 jobs, with all entry level staff being recruited from the long term unemployed via it's employment partner, Job Centre Plus.
The new hotels will be located in:
Location / Number of rooms / Investment:
London Bethnal Green 131 / 7.4m
London Bank 77 / 7.5
London Ealing 99 / 6.8m
Bristol 147 / 8.5m
Liverpool 141 / 6.9m
Manchester MEN Arena 200 / 9.9m
Manchester University 100 / 3.4m
Camberley 100 / 4.9m
Cannock 60 / 2.2m
Andover 78 / 3.2m
Total 1,133 / £60.7m
Upon construction, these sites will add 1,133 rooms to Travelodge's existing 28,000 room portfolio, including locations in major UK cities such as London, Manchester and Liverpool. The new hotels in London underlines Travelodge's commitment to being the biggest hotel brand in London by 2012 Olympics and demonstrates its desire to develop in the Greater London boroughs.
Travelodge's Managing Director for Development, Paul Harvey said: "During the recession we have taken the opportunity to grow where many have put their development on hold. In 2009 we secured more hotels than any other year in our history and have been able to attain superior sites due to lower property prices.
"This group of exchanges include our first hotels in Cannock and Andover and also steps up our presence in some of the UK's leading cities."
These developments continue to drive Travelodge's presence in city centres where half of its hotels are now located. Over the last five years the budget hotel chain has focused on city centre growth to rebalance its portfolio, away from roadside locations. These motorway and trunk route sites now represent just 25% of its hotel stock with the remaining quarter in suburban, seaside and tourist locations.
The first budget hotel brand to launch in the UK in 1985, Travelodge now operates over 390 hotels 28,000 rooms ten in Ireland, three in Spain and the rest in the UK. Travelodge plans to grow its estate to 70,000 rooms (approximately 1000 hotels) by 2020.
Six and a half million people stayed with Travelodge last year and 87% of reservations are currently made online at travelodge.co.uk, where room rates start at 19 a night. The chain employs 5,500 staff and is owned by Dubai International Capital.
For further information please contact:
T: 44 (0)1844 358 703