Travelodge to Add 17 New Hotels to it’s UK Portfolio in 2021
Main Photo: The Travelodge Plus Super Room, as in their new hotel in London’s Mile End
Date: May 2021
Locations: Within the UK… Boston, Lincolnshire; Bristol, Avonmouth; Bristol, Emersons Green; Farringdon, Oxfordshire; Kendal, Lake District; Leicester city centre; London Elephant & Castle, Manor House and Peckham; Mansfield; Newark-on-Trent, Notts; Poole, Dorset; Rochdale, Lancs; Sandwich, Kent; St Albans, Herts; Walton-on-Thames, Surrey and Witney, Oxfordshire
Names: Travelodge and three Travelodge Plus
No. of Keys: Currently 45,000 – these 17 will add 1,388
Sellers: Various
Buyers: Various…Budget chain Travelodge will add 17 new hotels to its UK portfolio, through this year. The additions will take it’s presence to 597 sites in the UK, Ireland and Spain.
The additions include three Travelodge Plus sites, in London and St Albans.
Cash of £175 million from third-party investors will fund the new hotels, including an expansion of Travelodge’s higher-end self-styled “budget chic” hotels, which they launched in 2018, with Travelodge Plus a concept akin to premium economy airline seats on a plane.
Craig Bonnar, Travelodge chief executive, said: “After a challenging 12 months, today’s announcement demonstrates the strength in the Travelodge brand and is a key step forward as we emerge out of lockdown.”
Two of the 17 new hotels have already opened: the London Mile End Travelodge Plus and Portsmouth City Centre Travelodge Plus.
Last summer the firm swerved bankruptcy after convincing landlords to cut millions of their rent bills – saving an estimated £144 million.
During the pandemic, hotels have only been open to frontline workers, with holidaymakers and business travellers barred from travel.
THPT Comment: Travelodge narrowly avoided bankruptcy last year following the financial blow dealt by the pandemic, and fell out badly with some of it’s partner landlords. Good to see that faith has been restored!
First Seen: NationalWorld
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