TRAVELODGE has announced a €1 billion expansion programme to target the Spanish domestic market.
Travelodge – the fastest-growing hotel chain in the UK - was the first British no-frills chain to launch in Spain
The success of two test sites in Madrid and a third in Barcelona have raised the company’s hopes of capitalising on the emerging low-cost Spanish market.
Plans for the rest of 2007 show sites opening at the rate of one every nine days, with a target of 100 new hotels by 2020.
There are currently over three hundred Travelodge’s in Britain, with Spain being considered the first step into more international markets.
Travelodge Chief Executive Grant Hearn said: "While there is a very strong growth outlook in the UK for the next ten to fifteen years, we have demonstrated that the Travelodge model works in Spain.
"There are just 100 budget hotels in Spain and with Spanish travelers taking 143 million domestic trips a year, we think the market potential is huge.
“We also know that 61 per cent of our 1.5 million UK online customer base is planning to take a trip to Spain within the next three years."