The budget hotel chain saw total sales for the year rise 13 per cent, with like for like sales up 6 per cent.
After opening 70 new properties and exchanging on a record 96 hotels last year, Travelodge saw occupancy rise by 3 per cent on average across its portfolio, with those in London maintaining peak occupancy from Q2 onwards.
The group sold 7.2 million rooms, a 13 per cent increase on 2009, and retained 13 million of its customers.
Its performance has put the group in good stead to continue the rapid growth of its portfolio and achieve its aim to be the largest budget hotel operator in the capital by the London 2012 Olympic Games.
Guy Parsons, chief executive of Travelodge, said he was pleased with the group’s performance so far and remained confident in its long-term prospects.
“Despite the tough climate in 2010, we have delivered a robust performance whilst continuing our strategic UK growth programme and demonstrating Travelodge’s continued strong recovery,” he said.
“The year has started in line with management’s expectations though clearly there has been an impact on the consumer from the recent VAT increase and the fuel and energy price increases. In terms of split, London’s performance is tracking against strong comparatives and the provinces continue to recover through a continuing seasonal weak demand period.”
Travelodge has invested £300m into building 36 hotels this year, 30 of which it hopes to open within the next 10 months. The group also intends to create 725 new jobs over the course of the year, with several more openings in the pipeline.
It will continue to refocus its openings in major cities and towns and away from roadside locations. Currently 18 per cent of Travelodge rooms are in London, 63 per cent in cities and towns, and 20 per cent at major motorways and roadsides.