Travelodge announces it is expanding its Spanish operation by acquiring the lease of the popular NH Villa de Coslada hotel in Madrid and it has appointed global hospitality advisors Aldaba Partners to help grow its Spanish hotel portfolio.
This expansion programme reflects the key findings from comprehensive research, including a study of the Spanish hotel market that Travelodge commissioned from Christie & Co. Research showed that Spain is one of the most visited countries in the world and one of the fastest growing hotel markets across the globe, but there is a significant gap for branded, low cost and good quality accommodation in the midscale and economy segment. This growing segment indexes favourably with modern travellers who are looking for affordable accommodation options.
This research indicates a significant opportunity for Travelodge to grow in Spain, as the group has nearly four decades of expertise in operating budget hotels, a strong brand, and a proven successful long term lease model in place. Therefore it can offer investors and landlords an alternative long term income stream in Spain. Whilst offering business and leisure travellers more choice and great value accommodation.
At present, the Spanish hotel market is dominated by independent hotel owners, franchise and management agreement operators and shorter leasehold operators. However, our research showed that investors are increasingly looking for stable long term income streams in support of Spain’s growing tourism industry. This fits well with Travelodge’s traditional long term fixed lease model, as used in the UK.
To help capitalise on this growth opportunity in Spain, Travelodge has appointed Aldaba Partners, who are renowned across the globe for their comprehensive investment advisory service. Aldaba Partners will help grow the Travelodge business in Spain by finding suitable hotel sites and third party investors. Key growth locations include: Barcelona, Madrid, Alicante, Bilbao, Granada, Malaga, Palma, Seville and Valencia.
To launch its Spanish expansion programme, Travelodge is delighted to have acquired the lease of the NH Villa De Coslada hotel in Madrid. The 78-room hotel features an on-site restaurant, bar and car-park and is Coslada’s main hotel, situated close to the Civitas Metropolitano Stadium, IFEMA Convention Center and the airport – making it an ideal base for business and leisure customers.
Travelodge has acquired a 20-year lease to operate the hotel from Grupo Veintidos. The hotel will be renamed Travelodge Madrid Coslada Aeropuerto and the group will invest approximately €1 million in acquiring the lease and refurbishing the hotel to the new Travelodge budget-luxe premium look hotel design.
The Travelodge budget-luxe design includes all the low cost efficiencies you would expect from Travelodge but with the added benefit of thoughtful, stylish design and homely touches throughout its interiors. Work will commence in May 2023 and the hotel will remain open during this period with an official opening scheduled for this summer.
Travelodge already operates a successful lease hotel model in Spain and Travelodge Madrid Coslada Aeropuerto, will be the group’s sixth hotel in Spain – and its third Travelodge in Madrid. The group also operates two hotels in Barcelona and one in Valencia. With the addition of this new hotel, Travelodge now operates nearly 600 hotels across the UK, Ireland and Spain.
Steve Bennett, Travelodge, Chief Property & Development Officer said:
“We are delighted to launch our Spanish expansion programme by acquiring the lease of the NH Villa de Coslada hotel in Madrid and appointing Aldaba Partners to help us grow our business across Spain. The Spanish hotel market is growing at pace with demand exceeding supply and we want to take this opportunity to take the Travelodge brand to new business and leisure locations across Spain.
With nearly four decades of expertise in operating budget hotels, a strong brand and a proven successful long term lease model in place, we can offer investors and landlords an alternative long term income stream in Spain. Whilst offering business and leisure travellers more choice and great value accommodation.”
The Travelodge Spanish operation is managed by Angel Beleno, who joined Travelodge in 2013 as Spain, Director of Operations and in 2014 was promoted to Spain, General Director. Angel has over 20 years experience of working within the hospitality sector in Spain and internationally. Prior to joining Travelodge, Angel worked for Melia Hotels International and Barceló Hotels and Resorts in Spain and Mexico.