Budget hotel chain Travelodge is to expand its London portfolio with a further six properties worth £84m, to make it the largest hotel brand in the capital by 2012
Budget hotel chain Travelodge has announced a £84m expansion plan to make it the largest hotel brand in London by 2012.
Travelodge has exchanged six properties in Covent Garden, Ealing, Stratford, Harrow Lyon Road, Harrow Sheridan House and Bromley, consisting of 828 rooms between them.
Coupled with the seven hotels currently being constructed, Travelodge will operate 45 hotels (6,482 rooms) in London by the 2012 Olympic Games.
Grant Hearn, chief executive of Travelodge, said the hotel brand would have a 1,000-room lead on its competitors by 2012, which would be ‘unassailable.’
“We have long stated our aim of being the lead brand in London by the time of the games and we are pleased that this will now be achieved,” he said. “The Olympics is a once in a lifetime opportunity for the tourism industry and we intend to take it with both hands.”
The London expansion announcement comes weeks after Travelodge launched a £100m war chest, named Tamesis Capital, to enable the group to’ quickly acquire’ going concern hotels.