Travelodge has announced plans to spend €61m building three new hotels in Spain.
The properties in Barcelona, Valencia and Seville will be constructed in a joint venture with property developer Citygrove, which has previously developed a number of Travelodge hotels in the UK. All three will open in 2011.
The 240-room Barcelona hotel is located in the former Olympics athletes’ village; the 199-room Seville hotel is situated near the El Prado Metro Station; while the 110-bedroom Valencia hotel will be built next to city’s airport.
Paul Harvey, managing director for international development at Travelodge, said: “The recent downturn in Spain has meant that locations are presenting themselves to us at prices which are far more realistic when compared to the recent boom years,” he said.
“This has enabled us to build up a strong pipeline of properties across the country and I expect to be making further expansion announcements soon.”
Travelodge already operates three hotels in Spain with two in Madrid and one in Barcelona and plans to reach 100 hotels in Spain by 2020 in a €1b expansion programme.