TRAVELODGE EXCHANGES ON 13 NEW HOTELS FOR £62M
29th Apr 2010
Travelodge, the UK's fastest growing hotel chain, has today announced the exchange of 13 new hotels at a combined investment value of £62 million, delivering an additional 1,224 rooms. The expansion will create 350 jobs, with all entry level staff being recruited from the long term unemployed via its employment partner, Job Centre Plus.
The new hotels will be located in:
Location Number of rooms Investment
London Vauxhall 157 £12m
London Excel Centre 131 £7.4m
London Edgware 119 £6.2m
London Bexleyheath 110 £5.4m
Cambridge Orchard Park 138 £8.1m
Aldershot 91 £4.3m
Birmingham Carrs Lane 88 £4.6m
Halesowen Earls Way 71 £2.6m
Warrington Gemini Park 71 £2.7m
Tamworth 66 £2.3m
Portishead Harbour Rd 60 £2.3m
Market Harborough 60 £2.3m
Huddersfield Leeds Road 62 £2.2m
Total 1,224 £62.4m
Upon construction, these sites will add 1,224 rooms to Travelodge's existing 28,000 room portfolio, including locations in major UK cities such as London, Birmingham and Cambridge. 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 Aldershot and Portishead Harbour as well as stepping up our presence in some of the UKs leading cities."
These developments continue to drive Travelodges 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.
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Notes to editors:
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.
Nine 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 budget hotel chain employs 5,500 staff in the UK and Spain.