TravelodgeThe UK’s leading budget hotel brand, which has over 600 hotels in the UK, Ireland, and Spain, agreed to purchase 11 hotels throughout the UK to add to its portfolio of 588 UK hotels. The company is targeting rebranding as part of their UK and Spanish growth plan.
Travelodge plans to buy nine hotels totaling 951 rooms. Five of these hotels will be purchased on a long-leasehold basis, while the other four will be acquired as freeholds. Travelodge has a long-term strategy to increase value by diversifying their freehold/leasehold division. This acquisition is part of that strategy. The hotels are in Birmingham, Bradford Dartford Leicester, Liverpool Manchester, Northampton Milton Keynes, Swindon, and Manchester.
Travelodge also recently changed contracts for two UK hotels, in Bromsgrove & Wakefield. Travelodge took a 25-year lease on the former Ibis Hotel in Bromsgrove. Travelodge has taken a new lease on a 43-room hotel in Bromsgrove. It is expected to open its doors in May. Owner of the newly acquired Wakefield hotel is converting the former independent hotel, CitiLodge, which has 74 rooms, to the Travelodge branding. The hotel is expected to open by August. Travelodge is entering into a 25-year lease. Before opening, both hotels will undergo a complete renovation to meet Travelodge standards.
Travelodge opened a new Hotel in Bromley town centre, which was an Ibis hotel. The hotel was fully renovated to the brand’s design after the Company exchanged contracts with its landlord in January. The hotel opened its doors last month.
This acquisition marks a positive step forward in our UK strategy as we strive to expand and optimise our hotel estate and increase value through diversification of our freehold/leasehold split. Travelodge hotels can be opened in many places throughout the UK and Spain. They offer great accommodation at a reasonable price. As we continue to expand our footprint, the acquisition of properties that can be rebranded as Travelodge is a crucial part of our strategy. We are in need of opening over 300 new hotels across the UK. We will be looking to secure prime locations when they become available. Steve Bennett, Chief Development and Property Officer at Travelodge
Travelodge
Travelodge was the first budget chain in Britain, founded in 1985. Today, it is the UK’s largest budget hotel group, with more than 600 hotels and 47,000 bedrooms in the UK.
Travelodge Spain has a well-established profitable presence. By April 2024 the portfolio of 12 hotels will double, after acquiring six additional properties. Travelodge is pursuing ambitious growth plans in this market. It has identified 20 locations that are ideal for opening additional hotels.
Travelodge is a chain of hotels that welcomes more than 22 million guests each year in the UK and Ireland. They are also located close to airports and other important business and leisure hubs. With 90% of its hotels rated 4* or above on TripAdvisor, Travelodge is proud to offer guests across its diverse customer base a good value experience – whether they are travelling for business or leisure. In 2023, approximately 50% of rooms were sold for less than £60.
We help people go and do what they want by Being the Brilliant Base.
Travelodge is continuing to invest in a hotel refit program that will see half of Travelodge’s room estate upgraded by 2024. The brand is also continually evolving its quality offering to deliver a better experience for its diverse mix of business and leisure guests such as its new look Bar Cafe design, 85 Bar Café, which has been rolled out to selected UK hotels as part of the refit programme.
Travelodge’s business strategy is based on sustainability, which includes a focus on the company’s environmental and social impact. It’s Better Future sustainability plan aims to build a more sustainable future for its customers, colleagues and the planet, and it is underpinned by three core pillars: Inclusive – ensuring we are accessible, inclusive and well-priced to our customers and colleagues; Caring – creating a caring and healthy environment for our colleagues and customers and ensuring their wellbeing; and Conscious – Travelodge is conscious of its impact on the planet, taking into account the waste it produces, the energy and other resources it consumes and the carbon emissions it generates.
Visit our website for more information travelodge.co.uk Or the Travelodge Hotels Limited LinkedIn profile.
Alison McNulty
Property PR Manager
Travelodge
