Travelodge expands its portfolio

14th August 2008, 12:12pm

Travelodge has announced the exchange on five UK based hotels, adding nearly 500 rooms to the budget hotels portfolio, with an investment of £31 million.

The new sites will be located in Newquay, Lancaster, Blackpool, Hounslow and Birmingham Perry Barr.

Paul Harvey, Travelodge's property director, commented on the plans for the future: "The exchange on these properties demonstrates that our development pipeline is ambitious and that we are on tack to meet the target set out in January – to add 4000 new rooms to our portfolio by the end of the year. This exchange also extends our footprint to 3 central locations in Blackpool, a key tourist destination in the UK."

He continued: "Consumers are demanding accommodation at affordable prices but are refusing to compromise on quality the credit crunch is forcing people to review their spending habits."

The hotel group plans to treble the size of its estate by 2020, targeting a 10% share of the UK hotel market.

Travelodge currently operates over 330 hotels in the UK and served over six million customers last year.

Related Articles:

• 24 May 2011 - Travelodge buys four star Mercure Hotel
• 26 Apr 2011 - Hotel chain Travelodge appoints non executive director
• 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
• 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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