Travelodge adds seven hotels to its portfolio

24th June 2008, 11:40am

Travelodge budget group has added seven UK hotels to its portfolio worth a total of £69.9 million.

The seven hotels, which will follow Travelodge's leasehold model, are located in England, Scotland and Wales, and will add a further 669 rooms to its empire.

Around £5 million will be invested in refurbishing and branding the Swallow Hotel situated in Scarborough and an additional £2 million will used to convert the Swallow Hotel in Edinburgh, depending on planning permission.

Both hotels will be trading under the Travelodge brand by early next year.

Of the total sum, £34.5 million of this will be invested in the remaining five hotels in Finsbury Park, Porthmadog, Gloucestor, Caernarfon and Egham.

Paul Harvey, Travelodge's property director, commented on the new additions: "As price and location continue to drive consumer behaviour we are seeing customers shift to budget hotel accommodation."

He added: "New development and growth opportunities are looking to open a further 4000 new rooms in 2009."

Related Articles:

• 24 May 2011 - Travelodge buys four star Mercure Hotel
• 19 Apr 2011 - Travelodge partners with major pub companies as part of expansion programme
• 16 Oct 2009 - Planning permission granted for Travelodge's largest hotel
• 01 Oct 2009 - Travelodge and Marston's join forces
• 17 Aug 2009 - Travelodge launches first Essex hotel
• 29 Apr 2009 - Hotel room sold every second at Travelodge
• 25 Mar 2009 - UK's first Travelodge iBooker launches today

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