Travelodge books in 17 more hotels amid expansion drive
Fresh signs of Travelodge’s bullish expansion plans have emerged this morning after the chain revealed a new £115m investment drive to open a further swathe of hotels this year.
The budget hotel group, which earlier this year unveiled a target to build 100 new outlets by 2024, has today upped its ambitions with a plan to open another 17 extra sites and create 350 new jobs by the end of 2019.
The move, which would take Travelodge’s portfolio across the UK, Spain and Ireland to nearly 600 locations, comes as the group ramps up its efforts to attract more business customers and roll out its 'budget chic' arm.
Read more: Travelodge eyes expansion as turnaround delivers rise in revenues
Business customers now make up more than 50 per cent of Travelodge's revenues, with the group ramping up its investment in concepts such as "Travelodge Plus" – where for an extra £10, guests are offered Lavazza coffee pods, new hair dryers and bigger desks.
Peter Gowers, Travelodge chief executive, said: "Despite the uncertainty facing the UK, the long-term prospects for low-cost hotels remain strong. The next phase of our expansion plan will see us deliver more choice in more places than ever before. We’ve come a long way from our early days by the side of the motorway and today’s Travelodge not only offers the same great value as always, but the extra choice of our new Travelodge Plus and SuperRoom concepts – ideal for those for who want just that little bit more."
Read more: Travelodge targets conferences centres in £100m push
In March the group posted a rise in full-year sales and profits, having recovered from the brink of administration in 2012.
Gowers described the market as “mixed”, with strong growth in London but falling sales in the rest of the UK.