Travelodge Plans 100 New Hotel Openings in the Next Five Years
by Traveleads | March 20, 2019 | Latest News On The Ground
UK budget hotel chain plans to open 100 hotels by 2024 – Travelodge is the second-largest economy hotel chain in the UK behind rival Premier Inn. Under its five-year expansion programme – the company will strive to challenge Premier Inn by targeting central locations such as city centres and sites near to conference venues.
The company’s annual results were recently posted in which reported revenue up 8.8 per cent to £693.3m.
Peter Gowers, chief executive, said that Travelodge’s growth was the product of a five-year transformation plan, which the company carried our between 2013 and 2018 which has seen its portfolio grow by 4 per cent to 575 hotels, and sales up by £250m.
Over that period it has launched premium economy ‘SuperRooms’ and brand Travelodge Plus, invested £100m in hotel upgrades and opened 60 new hotels.
He also stated that Travelodge was investing “in better quality and choice for our guests, while staying true to our budget roots.”
“Our strategic focus on location, price and quality has enabled Travelodge to deliver a set of excellent results,” Gowers said.
“We extended our network of hotels, remained focused on delivering attractive prices and took another step forward on quality.
“The long-term growth opportunities for the budget sector remain strong and we expect to open 100 new hotels over the next five years, creating approximately 3,000 jobs.”
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