Today the fastest growing hotel chain has announced it is opening three going concern hotels this week in Edinburgh, York and at Stansted Airport. The properties include a Ramada Encore, Best Western and an independent hotel. At an investment of £14m, the hotels will boost Travelodge's portfolio to 395 hotels and increase its 28,000 rooms by a further 217 rooms.
All non-essential and ancillary items such as fridges, trouser presses and unnecessary bathroom toiletries have been removed from the rooms and the hotels have undergone a refurbishment programme to reflect Travelodge's low cost philosophy.
In addition, a new lowcost pricing policy has been introduced at the hotels, reducing existing room rates, which were £65 at the Best Western and £53 at the Ramada to £19 per room.
Listed below are detailed of the three properties:
- York Micklegate Ramada is now the 104-bed York Central Micklegate Travelodge, located in York city centre.
- The Best Western Stansted Manor Hotel is now the 70-bed Bishops Stortford Travelodge, located near Stansted Airport.
- A former independent hotel in the centre of Edinburgh is now the 43-bed Edinburgh Central Rose Street Travelodge.
Paul Harvey, Travelodge's Managing Director for Development and International commented:
"Despite the challenging property market, we are delighted to have secured these three properties, which are located in key business and leisure locations. The economic climate has accelerated the forecasted structural change of the hotel market as consumers have chosen low cost, quality accommodation rather than over priced full service and midmarket establishments. This is resulting in Travelodge winning new customers and also acquiring hotels in key locations."
A key part of Travelodge's new openings programme is delivered by acquiring existing hotels that fit the company's location and branding criteria. In 2009 Travelodge added in excess of 600 rooms to its brand by the acquisition of Going Concern hotels in locations such as: Bath, Coventry, London Fulham and Bournemouth Seafront.
Over the last five years the budget hotel chain has focused on city centre growth to rebalance its portfolio, away from roadside locations. These motorway and trunk route sites now represent just 25 of its hotel stock with the remaining quarter in suburban, seaside and tourist locations.
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Notes to editor:
About Travelodge:
The first budget hotel brand to launch in the UK in 1985, Travelodge now operates over 390 hotels 28,000 rooms ten in Ireland, three in Spain and the rest in the UK. Travelodge plans to grow its estate to 70,000 rooms approximately 1000 hotels by 2020.
Six and a half million people stayed with Travelodge last year and 87 of reservations are currently made online at travelodge.co.uk, where room rates start at 19 a night. The chain employs 5,500 staff and is owned by Dubai International Capital.