Travelodge to spend £165m on 22 new hotels
Travelodge is to open 22 new hotels across the UK, at a total investment value of £165m (US$265m, €183m).
The hotel chain has also formed a partnership with clothing retailer Arcadia Group, which will fund the construction of a 96-room hotel above their largest Topshop store in Edinburgh.
A 35-year lease, worth £10m ($16m, €11m), has been agreed for the new hotel, which is scheduled to open in summer 2012.
In addition to this site, further Travelodge hotels are planned for London, Bedford, Gatwick Airport and more.
The company's estate will have increased to 540 hotels and 39,957 rooms upon completion of these developments.
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