Travelodge today announces that following the successful capital injection into the Company, Grant Hearn is to resume the role of Chief Executive on a permanent basis. As a result of this decision, Guy Parsons, the current CEO has decided to step down and will leave the Company on Friday 20th April 2012.
Grant Hearn was previously Travelodge Chief Executive between 2003 and 2010 during which time Keith Hamill was Chairman. As a result of this change, Keith will resume his role as Chairman from his current position as Deputy Chairman.
Grant Hearn said: “During recent discussions regarding our financial restructuring, the Board has expressed their wish for me to lead the business once again. Clearly, as recently has been said, there cannot be two Captains running a ship and as a result Guy has decided to leave the Company”.
“I would like to thank Guy for the great contribution he has made over the last eight years at Travelodge. Guy has been an architect of our successful growth strategy and a true innovator. He will leave behind a business which has very strong plans for improvement and growth.”
Guy Parsons said: “This is a good time for me to step down as CEO of Travelodge. I have been privileged to be the Company’s Chief Executive for the last two years and I am proud of all that we have achieved in that time. I would like to thank the management and staff of Travelodge for their support and I wish the business well for the future.”
Travelodge is opening 41 hotels this year and creating over 1,000 new jobs. The Company is the largest hotelier in London and recently opened its 500th hotel at London Stratford, near to the new Olympic stadium.
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About Travelodge
The first budget hotel brand to launch in the UK in 1985, Travelodge now operates over 500 hotels and over 35,000 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.