Despite the major challenges posed by the pandemic over the last 18 months, Travelodge has continued to grow its network and will open 17 new hotels this year. This is quite an achievement, as many building projects were either put on hold or cancelled completely during the last 18 months
These 17 hotels represent an investment value of around £175 million for third party investors and will create 360 new jobs. They also boost Travelodge’s portfolio to 597 locations in the UK, Ireland and Spain.
Travelodge follows a developer-led growth model, exchanging Agreements for Lease with developers, who then build the new hotels to turnkey specification. The leases granted at practical completion are drawn on institutionally-acceptable terms, with a minimum of 25-years and 5-yearly reviews in line with CPI (collared and capped).
The 2021 UK expansion programme will see Travelodge enter new markets, with the group opening its first hotel in the following towns: Boston, Farringdon, Newark, Rochdale and Witney.
The group is also expanding its network in key business locations including two hotels in Bristol, two in London and strengthening its presence in Leicester.
Travelodge is also opening hotels in popular holiday locations, which include Kendal, in the heart of the Lake District and Poole, the important tourist and business coastal town in Dorset.
This programme demonstrates the strength in the Travelodge brand and we are actively searching for over 300 development opportunities throughout the UK, where Travelodge can act as a catalyst to support regeneration in key business and leisure locations across the UK.
The 13 Travelodge hotels opened in 2021 so far are listed below:
- Boston (Lincolnshire)
- Bristol Avonmouth
- Bristol Emersons Green
- Farringdon (Oxfordshire)
- Kendal (Lake District)
- Leicester city centre
- Newark on Trent
- St Albans (Travelodge Plus)
STILL TO COME……… London Elephant & Castle, London Manor House, Walton on Thames, Cobalt Business Park