Jun 25 2008
Fastest Growing Budget Hotel Co. in UK Expands
Travelodge, the UK’s fastest growing budget hotel company, announced the acquisition of two hotels from Swallow Hotels and an exchange on a further 5 hotels for a total investment of £69.9 million.
The hotels are located in England, Scotland and Wales and will follow the preferred leasehold model of Travelodge. This expansion adds another 669 rooms to the Travelodge portfolio.
Paul Harvey, Travelodge’s Property Director, said: “As price and location continue to drive consumer behavior we are seeing customers shift to budget hotel accommodation. These new hotels, in some of the top UK tourist spots, will add nearly 700 new rooms to our portfolio – helping us to make hotels available to more people than ever before.
“We continue to actively seek and pursue, new development and growth opportunities are looking to open a further 4000 new rooms in 2009″.
The Travelodge brand opened with its first budget hotel in 1985 and now operates over 330 hotels and over 22,500 rooms.
