Travelodge will open 17 new ‘premium economy’ hotels this year to create more than 360 new jobs in £175million expansion
- Plans will see the hotel chain increase its network to 597 locations across globe
- New sites will be developed with £175million cash from third party investors
- Bosses are also planning to offer more premium SuperRooms across the hotels
Travelodge has announced plans to open 17 new hotels this year, creating over 360 new jobs across the UK in a £175million expansion of the ‘premium economy’ chain.
The plans will see the hotel chain increase its network to 597 locations in the UK, Ireland and Spain and bosses hope the new sites will be open in time for the summer holidays.
New sites will be developed with cash from third party investors to the tune of £175million, including an expansion of Travelodge’s higher-end self-styled ‘budget chic’ hotels.
The plans will see the hotel chain increase its network to 597 locations in the UK, Ireland and Spain and bosses hope the new sites will be open in time for the summer holidays. Pictured: CGI image of the upcoming London Manor House hotel
Launched in 2018, the concept is designed to tap into a more upmarket identity similar to premium economy airline seats, which demand a higher profit margin.
This year, the group said it plans to open three new Travelodge Plus hotels, two in London and one in St Albans, with 14 properties in prime locations across the UK in total.
Bosses also plan to offer more premium SuperRooms, with 2,000 across 58 hotels, the company added.
Craig Bonnar, Travelodge chief executive, said: ‘After a challenging 12 months, today’s announcement demonstrates the strength in the Travelodge brand and is a key step forward as we emerge out of lockdown.’
New sites will be developed with cash from third party investors to the tune of £175million, including an expansion of Travelodge’s higher-end self-styled ‘budget chic’ hotels. Pictured: CGI image of London’s new Elephant and Castle Travelodge
Two of the 17 new hotels opened on Tuesday, having been previously delayed due to the Covid-19 restrictions, including the London Mile End Travelodge Plus and Portsmouth City Centre Travelodge Plus.
Sites have remained open through the pandemic for frontline workers in the pandemic but due to restrictions business customers and holidaymakers have been forced to stay away.
Last summer Travelodge bosses persuaded landlords to back a deal to cut millions off the firm’s rent bills under a company voluntary arrangement plan to avoid bankruptcy, saving an estimated £144million.
Where will the 17 new Travelodge hotels be opening?
The 17 Travelodge hotels expected to open in 2021 are:
1. Boston (Lincolnshire)
2. Bristol Avonmouth
3. Bristol Emersons Green
4. Farringdon (Oxfordshire)
5. Kendal (Lake District)
6. Leicester city centre
7. London Elephant & Castle (Travelodge Plus)
8. London Manor House (Travelodge Plus)
9. London Peckham
15. St Albans (Travelodge Plus)