Price cuts at Travelodge

19th November 2008, 11:12am

Hotel chain Travelodge has announced a £5 million package of price cuts for the rest of this year.

Travelodge believes that increased price pressure on mid market rivals will maintain the momentum of customers switching to the budget sector.

The hotel group has already cut rates in 15 of the UK's biggest cities taking an average of 10% off every room night for the rest of the year. Room prices will be dropped below 2007 prices to drive volume and compete with its other budget and mid market rivals.

Travelodge managing director, Guy Parsons, commented on this announcement:  "No other hotel chain can cut prices harder or longer than us so we will use this to our advantage. 

"During the last consumer recession, the budget airlines drove a structural change in the market that did not reverse when good times returned. We believe budget hotels will do the same this time around mid market customers will demand value today and reject high prices for good".

This month alone, Travelodge has announced promotions pricing 200,000 room nights from £9 to £29. These promotions cover key holiday periods including Christmas, February half term and Easter.

Parsons continued: "We are now seeing many more hotels coming onto the market due to a more severe financial climate. This new landscape will require hotels to offer genuine value to the customer and we believe that can only be good for the long term success of the hotel industry."

Related Articles:

• 23 Feb 2010 - Travelodge exchanges on 10 new hotels for £61 million
• 26 Jan 2010 - Travelodge to launch 26 new hotels this year
• 14 Dec 2009 - Travelodge hotel group and Twenty10 launch £100m property fund
• 17 Nov 2009 - Travelodge reveals10 new openings worth almost £50m
• 16 Oct 2009 - Planning permission granted for Travelodge's largest hotel
• 17 Aug 2009 - Travelodge launches first Essex hotel
• 05 Jun 2009 - Business set to boom for UK hoteliers
• 25 Mar 2009 - UK's first Travelodge iBooker launches today

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