The budget hotel chain Travelodge has recently made deals for 12 new hotels in the UK with a combined investment value of £77 million. The company will add 1,334 rooms and create 200 new jobs.
Travelodge is the UK’s fastest growing hotel chain, and in these economic times it is easy to see why a discount chain is doing well. Additionally, another 16 hotels in the UK are under construction, which will add another 1,560 rooms in the next few years..
Paul Harvey, Managing Director for Development at Travelodge noted that “The addition of so many sites is just the start to what will be a large number of exchanges in 2009. Since the onset of the recession we have been offered more locations and going concerns than ever before, often in prime locations that just one year ago would have been unviable.”
“Given that budget hotels only amount to 13 per cent of the UKs hotel market, there is clearly strong potential for growth.”
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