& THE RACE BEGINS TO OPEN A HOTEL PER MONTH IN LONDON AT AN INVESTMENT OF £223 MILLION
Today, Travelodge, the UK’s fastest growing hotel brand has announced it has opened its 486th hotel, a stone’s throw from the Bank of England. The London Bank Travelodge, a 75-room grade ll listed property represents an investment of £7.5 million and has already proven to be one of the most successful new hotel opening’s in the Company’s 26 year history.
In the first few days of trading, Travelodge has reported a record level of bookings at its latest opening. The majority of reservations have come from City workers who have taken advantage of Travelodge’s low cost rooms and booked ahead in preparation of the Christmas party season.
The new London Bank Travelodge is also the start of a £223 million expansion programme for London’s biggest hotel chain - with the opening of 26 hotels scheduled over the next 24 months. This investment will create 710 new jobs across the capital.
Ten of these new hotels will be opened in the next ten months before the 2012 Games start. Many of these new properties will be located within walking distance of the venues where the Games will be taking place. This includes a 188-room Travelodge hotel in Stratford – which is just minutes away from the Olympic Park and a 131-room property at London Excel where the boxing, fencing, weightlifting and wrestling events will take place.
Guy Parsons, Travelodge Chief Executive, said: “The London Bank Travelodge opening has outperformed all new hotel openings in our Company’s 26 year history. This clearly demonstrates the strong consumer demand for good quality, low cost accommodation in the City of London. To capitalise upon this growing trend, we are investing £223 million to open a further 26 hotels and creating 710 new jobs in London over the next 24 months.”
“With the Olympic Games fast approaching, this is a once in a lifetime opportunity for us to promote British tourism and with millions of tourists expected to visit our capital city next summer, the need for budget accommodation will be at its peak. Therefore as London’s largest hotelier we are working endlessly to open ten of our 26 new hotels in time for the Olympics, so that we can offer an even wider choice of locations in the capital to our customers.
By July 2012 we will have 54 hotels and 7,705 rooms and will remain the biggest hotelier in London.”
Gordon Innes, CEO of London and Partners, said: “This expansion that Travelodge is planning is great news for both leisure and business travellers coming to London, especially in the run up to the 2012 Olympic and Paralympic Games. London is known for its great range of accommodation and the growth of budget sector is particularly positive for visitors who are looking for value for money options in great locations when visiting the capital.”
Listed below are details of the ten hotels Travelodge is opening before the start of the Olympic Games:
1. London Cricklewood
2. London Edmonton
3. London Stratford
4. London Twickenham
5. London Crystal Palace
6. London Teddington
7. London Greenwich West
8. London Balham
9. London Enfield
10. London Excel Centre
Travelodge offers rooms from £19, nearly 90% of reservations are conducted at www.travelodge.co.uk
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Notes to Editors:
Address:
London Bank Travelodge
19 - 23 St Swithins Lane
London
EC4N 8AD
About Travelodge:
The first budget hotel brand to launch in the UK in 1985, Travelodge now operates over 480 hotels and over 33,500 rooms across the UK, Ireland (11) and Spain (4). Travelodge plans to grow its estate to 1,100 hotels and 100,000 rooms by 2025. Over 13 million people stayed with Travelodge last year and 90% of reservations are currently made online at www.travelodge.co.uk, where room rates start at £19 per night. The chain employs over 6,000 staff.