Travelodge acquires office building in St Pauls, London in freehold conversion deal

Travelodge, the UK’s first budget hotel brand which operates over 600 hotels, today announces that it has acquired an office building (Genesis House, Godliman Street) in St Pauls, London. The freehold deal will be self funded by the Travelodge OpCo Group. 

Subject to planning permission, the 24,000 sq. ft. building will be converted to a Travelodge hotel, which will comprise 95 rooms and a restaurant, 85 Bar Cafe. Currently, the building is partially let to offices on short leases. Conversion works are anticipated to begin early 2026 and the hotel to be open for trading in Q1 2027. The sellers were advised by Lewis & Partners. 

Travelodge operates a well-diversified, high-quality network of hotels located in major cities and towns across the UK. As part of its UK development strategy, the group continues to explore new ways to expand its network of hotels and sees a new pathway to sustainable expansion by converting existing, vacant office and retail buildings into new hotels. This type of development is a win-win solution for all parties, as it brings redundant space back into active, economic use. 

Jo Boydell, CEO of Travelodge, comments: “The acquisition of Genesis House marks a positive step in our UK development strategy, as we seek to grow and optimise our estate of hotels and enhance value by diversifying our freehold/leasehold split.

Office-to-hotel conversion is a sustainable way of developing, as it allows us to meet the growing demand for budget hotels while reducing the carbon impact that new development brings. We are also happy to be continuing to expand our portfolio in London, where we currently operate 82 hotels, with a further five developments underway.”

Travelodge continues to see significant growth opportunities in the UK, with over 300 target locations identified following a comprehensive review of gaps in the market. Additionally, the company will continue to review extension opportunities across its existing estate. The business has also established a profitable market presence in Spain, operating 11 hotels, with four further hotels pending, and has identified a further 20 target locations across the country.

Ends

For further information, please contact:

FGS Global Tel: 0207 251 38 01 Jenny Davey/Anjali Unnikrishnan 

Email: Travelodge-LON@fgsglobal.com   

Notes to editors

About Travelodge

Founded in 1985, Travelodge is Britain’s very first budget hotel chain and today is one of  the largest budget hotel chains in the UK, with a portfolio of over 600 hotels and over 47,000 bedrooms across the UK, Ireland and Spain.  

Welcoming over 22 million guests annually across the UK, Ireland and Spain, the majority of Travelodge hotels are located  in major cities, towns and holiday hotspots as well as by airports and key business hubs.  With 90% of its hotels rated 4* or above on TripAdvisor, Travelodge is proud to offer  guests across its diverse customer base a good value experience – whether they are  travelling for business or leisure. In 2023, approximately 50% of rooms were sold for less  than £60. 

Whether out celebrating a birthday, going to a concert or sporting event, visiting friends and family, taking a business trip, working away from home, or taking a short break, we help people to go and do their thing by Being the Brilliant Base.

Travelodge continues to invest in its ongoing hotel refit programme which is expected to  see 50% of the Travelodge room estate upgraded to its new design by the end of 2024.  The brand is also continually evolving its quality offering to deliver a better experience for  its diverse mix of business and leisure guests such as its new look Bar Cafe design, 85 Bar Café, which has been rolled out to selected UK hotels as part of the refit programme.  

Travelodge is focussing on its environmental and social impact, with sustainability integral to its business strategy. It’s Better Future sustainability plan aims to build a more sustainable future for its customers, colleagues and the planet, and it is underpinned by three core pillars: Inclusive – ensuring we are accessible, inclusive and well-priced to our customers and colleagues; Caring – creating a caring and healthy environment for our colleagues and customers and ensuring their wellbeing; and  Conscious – Travelodge is conscious of its impact on the planet, taking into account the waste it produces, the energy and other resources it consumes and the carbon emissions it generates.  

For further information visit travelodge.co.uk or the Travelodge Hotels Limited LinkedIn page.