Travelodge to invest £300m in 35 new properties

Travelodge to invest £300m in 35 new properties

Travelodge has confirmed it will build a further 35 hotels this year as it continues to develop its presence in the UK market.

The company – which is owned by Dubai International Capital – plans to invest £300 million in the venture.

Once complete, the development will bring the total to Travelodge estate to 495 hotels.

Pictured: Eight of the new hotels will be in London

Travelodge said the move was part of an aggressive growth plan, which will see the firm increase the number of hotels it operates to 1,000 by 2025.

Guy Parsons, chief executive of Travelodge, said: “The hotels we will build this year have been a result of Travelodge’s commitment to expand during the recession while many companies put their development on hold.

“As a result of the recession, we have successfully acquired superior sites due to lower market property prices, which otherwise would not have been available for hotel use.”

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Over half of the new hotels being built this year are in UK cities, including eight in London.

Travelodge said it will become the largest single hotel brand in the capital this spring.

“Our aggressive growth plan has continued to drive Travelodge’s presence in city centres where over half of our hotels are now located,” concluded Mr Parsons.