Budget hotel chain Jurys Inn has exchanged contracts on four new hotels in England and Scotland in a deal worth £90m.

Located in Glasgow, Newcastle, Portsmouth and Bradford, the 200-room 80,000sq ft hotels (the Glasgow site is the only 100,00sq ft hotel offering 230 rooms) are being developed by Jurys' strategic development partner McAleer and Rushe and will be operated on long-term leases. The hotels are due to open in 2010 and are in addition to seven new openings scheduled for 2009 including a 259-room hotel in Sheffield which opened in January 2009.

Simon Jones, Jurys Inn development director, said: “We plan to grow the business aggressively this year and are seriously exploring increased numbers of new site opportunities emerging from the fast changing UK property market. "Developers and land owners struggling with residential or commercial projects will get a positive reception from us as we seek well located sites in prime London locations and in provincial cities to deliver our ambitious future growth plans.

"We continue to look speculatively for new locations as site valuations drop and struggling 4 star hotels close. We remain proactive and hungry for development and growth opportunities as the UK hotel market consolidates.” Acting Jurys Inn CEO, John Brennan, said: "I am confident that our competitively priced city centre locations will benefit from research predicting that up to 50 per cent of Britons will holiday at home this year due to the recession and strong euro.

Our positioning means we are competitive with price-conscious business users switching from four star hotels and leisure customers that still want hotel pedigree and hospitality from their weekend breaks – something missing from the UK’s no frills budget operators.”