-- Open 14 new hotels - which includes two properties in Spain-- Create 420 new jobs-- Launch a new room concept which has been designed by its customers-- Introduce truckle beds-- Rollout out a GBP 57m refurbishment programme across its estate
Grant Hearn, Travelodge CEO said: "Now that we have a solid financial foundation in place, this year, the Travelodge brand will benefit from a GBP 223 million investment. This capital expenditure will help us to grow our business, strengthen our product offering and make Travelodge the best value hotel chain in the UK.
"As part of this year's investment we have worked with our customers to create a new Travelodge room which offers more comfort, quality and style. The hero of our new room is a luxurious bed that is normally found in high end hotels. This enhanced product offering combined with our new cutting edge revenue management system that offers economy pricing, will ensure we are the smart choice for leisure and business travellers."
Today one of the UK's leading hotel brands, Travelodge has announced it is benefitting from a GBP 223 million investment this year to help further grow its business. This cash investment will help fuel growth, strengthen the Company's brand offering and ensure consumers obtain the best value in the marketplace.
In 2013, Travelodge will open 14 hotels (1,742 rooms) at an investment of GBP 141.5m. Twelve of these openings will be in the UK and two in Spain.
The UK locations include four hotels in London (Bethnal Green, Hounslow, Vauxhall and Walthamstow), hotels in Liverpool, Cambridge, Aylesbury, Southport, Kings Lynn, Sittingbourne, Manchester and Chertsey.
The two Spanish hotel openings will double Travelodge's room stock to 700 and boost the number of hotels in Spain to six which includes three hotels in Madrid, two in Barcelona and one in Valencia. The first hotel is scheduled to open in spring and is located in the fashionable beach area Poblenou in Barcelona. The new Madrid hotel is scheduled to open in the summer and is located in the famous Julian Camarillo commercial district.
Grant Hearn, Travelodge CEO said: "In today's world, Britons are looking for great value when making a hotel booking. The UK at less than 20% remains a growing market for branded budget accommodation, as it is still well behind matured markets such as the USA and France. In response to this growing opportunity, our growth strategy remains in the forefront of our new business plan."
During 2013, Travelodge will also create 420 new jobs with 371 of the new positions being generated via the 14 new hotel openings. The remaining new opportunities will be created via the Company's successful management apprenticeship programme (JuMP) which will create 30 new apprenticeship placements and the remaining 19 roles are head office based.