The company has demonstrated good trading in 2011, capitalising on its strong trading position and the on-going weakness of the property market. And this looks set to continue into next year.
“Unlike other hotel companies we took the decision to continue expanding during the recession and we have reaped the benefits of doing this, said Travelodge chief executive Guy Parsons.
“Our ability to raise finance means that we are able to move quickly when other companies remain strangled by red tape."
2011: A timeline
- New Travelodge hotels in the heart of Birmingham, Bristol, Canterbury, Cardiff, Hull, High Wycombe, Lancaster, Manchester, the City of London and the West End.
- May: Traveloge pressed forward with the expansion of its Metrolodge brand by converting pubs, office buildings and even snooker halls into small 20-40 bedroom hotels.
- June: The chain introduced dedicated ‘sleep wardens’ to patrol its 383 UK hotels in a bid to help its customers get a good night’s sleep.
- August: Plans were revealed to invest £135m in opening hotels near National Parks in response to high demand for accommodation in the UK's top rural locations
- September: Travelodge revealed that the August riots cost the chain £1m due to cancellations made during the two-week period.
- November: Plans to develop seven new hotels alongside supermarket developments and pub companies were revealed as part of an ‘aggressive growth strategy’.
Looking ahead: 2012
- Of the 146 locations on the Travelodge target list, 65 of them are located within the Greater London area.
- Four new locations have been added in the Lake District as well coastal destinations such as Hove, Peterhead and Newhaven.
- Tourist and event hotspots have also been reviewed and the following locations have been added to the list: Edinburgh Zoo, Liverpool Aintree and the Glasgow SECC.
Parsons concluded: “We are flexible and willing to work with a wide variety of partners, ensuring that the developers who fund the construction of our hotels can move quickly and secure finance from a number of different sources.
“Next year we will open twelve more Greater London Travelodge’s, seven of which will open before the Olympics. These will further strengthen our position as the biggest hotel brand in London.”