Main Photo: Travelodge’s London City Hotel (Travelodge/PA)
Date: February 2020
Location: London, UK
No. of Keys: TBA
Sellers: Various TBA
Buyers: Various financial partners…Travelodge is set to create more than 500 new jobs as part of a major expansion in London over the next five years.
The hotel chain said it plans to open 20 more hotels in the capital over the period as it opened the doors to two new sites.
The company said it has invested £22 million into the opening of the two hotels in Beckton and Dagenham in east London, creating 55 jobs in total.
It said it could spend a further £350 million on its ambitious plans to continue its growth in London.
The privately-owned hotel business operates 77 hotels in London and said it is looking at around 100 potential locations as it closes in on further openings.
Travelodge’s new Beckton site has 113 rooms and has created 35 new jobs, the company said. It added that landlord Segro has invested millions into the hotel, which is part of a development built on a former landfill site.
Travelodge has also opened its Dagenham East hotel, which will be its second to open in Dagenham over the past 12 months. The 78-room facility has created 20 new jobs.
The firm said it has opened 10 hotels in London over the past three years, taking its total number of sites in the UK, Ireland and Spain to 589.
Tony O’Brien, Travelodge’s UK development director, said: “As one of London’s largest hotel brands, we are delighted to open two hotels in east London this week and boost our portfolio to 77 hotels across the capital.
“As we look to the future, London is a world class destination for leisure and business travellers however there still remains a desperate need for more good quality, low cost accommodation – especially across the boroughs.
“Therefore to meet this growing demand we are planning to open a further 20 Travelodge hotels over the next five years across London and we are actively looking at opportunities in more than 100 London locations.”
THPT Comment: Travelodge, who got slightly left behind from major competitor, Premier Inn in the last decade, whilst sorting out financial and ownership issues, has come back with a vengeance…at least in the Capital.
First Seen: Press Association picked up by Evening Express
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.