Travelodge, the UK’s first budget hotel brand which operates over 610 hotels, has acquired a 155-year long leasehold interest in 6 Broad Street Place & 15-17 Eldon Street from the City of London Corporation. The property is being acquired within the Travelodge OpCo Group. 

Located opposite Liverpool Street station, the acquisition covers two prominent adjacent buildings, totalling 58,893 sq ft net internal area, which are currently vacant and awaiting refurbishment. Subject to planning permission, Travelodge will convert the upper floors of both buildings into a hotel with an 85 Bar Café, offering a relaxed space for guests to eat and drink. The project will also reinstate pre-existing retail uses on the Ground Floor of 6 Broad Street Place. 

The acquisition is an example of one element of Travelodge’s UK development strategy, sustainably expanding its network of hotels by converting existing, vacant office and retail buildings into new hotels. By repurposing redundant spaces, Travelodge aims to bring them back into active economic use, benefiting the local community and meeting the growing demand for budget accommodation.  

Travelodge continues to see significant growth opportunities in the UK, with over 300 target locations identified following a comprehensive market review. The Group is successfully executing its development strategy, with 11 freehold and leasehold hotels opened in the year to date, and a further 4 hotels exchanged or completed. It is also exploring extension opportunities within its existing estate. 

Internationally, Travelodge has an established profitable presence in Spain, currently operating 12 hotels. With plans to expand into 20 key markets in Spain, the Group aims to grow through new developments and freehold or leasehold rebrand acquisitions.

Jo Boydell, CEO of Travelodge, comments: “The acquisition of 6 Broad Street Place and 15-17 Eldon Street marks another significant step in our UK development strategy as we continue to grow and optimise our hotel network.

“Office-to-hotel conversion is a sustainable way of developing, allowing us to meet the increasing demand for budget hotels while reducing the carbon impact that new development brings.

“We are also excited to expand our portfolio in London, where we currently operate over 80 hotels, with a further five developments underway.”

The City Corporation was advised by Capital Real Estate Partners, while Travelodge was represented by Strettons.

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Notes to editors:

For further information, supporting images or a staff case study, please contact:

The Tavelodge Press Office

T: 01844 358 703

E: pressoffice@travelodge.co.uk 

For media enquiries for the City of London Corporation please contact:-

Ellie Varley

E: Ellie.Varley@cityoflondon.gov.uk

Luke Major 

E: luke.major@cityoflondon.gov.uk

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 610 hotels and over 47,000 bedrooms across the UK, Ireland and Spain.  

Travelodge continues to see significant growth opportunities in the UK, with over 300 target locations identified following a comprehensive market review.

In Spain, Travelodge has an established profitable presence and has ambitious growth plans within this market and has identified the top key locations where it would like to open additional hotels in 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 over 96% 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. 

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 and has already upgraded c.60% of the Travelodge room estate to its new design. 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 focusing on its environmental and social impact, with sustainability integral to its business strategy. Its Better Future sustainability plan aims to build a more sustainable future for its customers, colleagues and the planet, 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.