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Travelodge to expand with 12 new hotels
Budget hotel operator Travelodge has agreed contracts to launch 12 new properties, adding another 1,443 rooms to its UK-based portfolio.
The £77m deal will see the operator open hotels in nine locations, including five new sites in London – Penge, Twickenham, Waterloo and Whetstone.
The largest of the 12 properties will be a 230-room hotel in Cambridge and the smallest a 66-room hotel in Liverpool.
The other sites are in Edinburgh (115 rooms), Egham (80), Epsom (85), Northampton (75), Rugby (72) and Salford Quays (145).
Two of the exchanges announced also continue Travelodge’s recent trend of working in partnership with supermarkets. The new Egham hotel will be built above a Waitrose while the Rugby property will be constructed on top of a Tesco.
Paul Harvey, Managing Director for Development at Travelodge, said: “The addition of so many sites is just the start to what will be a large number of deals in 2009.
“Given that budget hotels only amount to 13 per cent of the UK’s hotel market, there is clearly strong potential for growth. With a strong pipeline of properties identified I fully expect Travelodge to exit the recession in a stronger position than we entered.”
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