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Travelodge has revealed that it has exchanged contracts to acquire four former Ibis hotels as part of its UK growth strategy focused on rebrand opportunities.
This announcement brings the total number of other operators’ hotels acquired by Travelodge to 16 this year.
The hotels, located in Preston, Bradford Shipley, Chesterfield and Cardiff, comprise a total of 324 rooms. Travelodge has acquired the freehold interest in three of these properties, with Cardiff acquired under a new, 25-year lease agreement.
As part of Travelodge’s multi-million pound refit upgrade programme, these hotels will be refurbished later this year to reflect Travelodge’s latest design standards.
The company has identified 300 more locations to target in the UK and 20 more in Spain as it intends to maintain its major investment in its growth programme.
Steve Bennett, chief property and development officer at Travelodge, said: “These acquisitions are another strong addition to our UK portfolio and demonstrate the continued momentum behind our rebrand-led growth strategy.
“We’re seeing increasing opportunities to convert well-located, existing hotels into Travelodges, and we’re actively looking for more. These hotels are able to open much quicker than new development schemes, as no planning or other consents are required, and they also remove other competitors’ room stock from the market, rather than adding new supply, so they are a great way for Travelodge to open new rooms.”
He added: “Our strategy remains focused on acquiring and developing hotels in areas where we know there is customer demand, to give even more people access to high-quality, great-value accommodation, and we have identified over 300 locations throughout the UK with sufficient demand drivers to open a new Travelodge.”
Travelodge now operates over 610 hotels, with a requirement to open more than 300 additional locations across the UK.
Travelodge has revealed that it has exchanged contracts to acquire four former Ibis hotels as part of its UK growth strategy focused on rebrand opportunities.
This announcement brings the total number of other operators’ hotels acquired by Travelodge to 16 this year.
The hotels, located in Preston, Bradford Shipley, Chesterfield and Cardiff, comprise a total of 324 rooms. Travelodge has acquired the freehold interest in three of these properties, with Cardiff acquired under a new, 25-year lease agreement.
As part of Travelodge’s multi-million pound refit upgrade programme, these hotels will be refurbished later this year to reflect Travelodge’s latest design standards.
The company has identified 300 more locations to target in the UK and 20 more in Spain as it intends to maintain its major investment in its growth programme.
Steve Bennett, chief property and development officer at Travelodge, said: “These acquisitions are another strong addition to our UK portfolio and demonstrate the continued momentum behind our rebrand-led growth strategy.
“We’re seeing increasing opportunities to convert well-located, existing hotels into Travelodges, and we’re actively looking for more. These hotels are able to open much quicker than new development schemes, as no planning or other consents are required, and they also remove other competitors’ room stock from the market, rather than adding new supply, so they are a great way for Travelodge to open new rooms.”
He added: “Our strategy remains focused on acquiring and developing hotels in areas where we know there is customer demand, to give even more people access to high-quality, great-value accommodation, and we have identified over 300 locations throughout the UK with sufficient demand drivers to open a new Travelodge.”
Travelodge now operates over 610 hotels, with a requirement to open more than 300 additional locations across the UK.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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