Travelodge, a budget-friendly UK hotel brand, has acquired six hotels in Spain from Louvre Hotels Group.
This move adds 773 rooms to Travelodge’s portfolio.
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The hotels, previously under the Hotel Campanile brand, are located in key cities namely Alicante, Barcelona, Madrid, Malaga, and Murcia.
Five of the properties were bought on a freehold basis, with the remaining one on a long leasehold.
This acquisition was facilitated through Spanish subsidiaries within the Travelodge OpCo Group.
It doubles the company’s footprint in the country, building upon its existing six-hotel operation.
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By GlobalDataTravelodge CEO Jo Boydell said: “Spain is an important market for us, with an established presence of six hotels and an experienced local management team. We recognise there are significant ongoing opportunities for our business, with the potential to offer good value and quality accommodation in many more locations across the country.
“Last year, we identified the top 20 key markets to open a new hotel in Spain, where there is currently a shortage of good quality, low cost, branded accommodation to meet the needs of business and leisure guests.
“We are excited to announce the acquisition of these properties from Louvre Hotels Group as part of our Spanish development strategy. This doubles our presence in Spain and gives us the ideal base to build our brand even further.”
In January 2024, Travelodge agreed to acquire 66 Travelodge-branded hotels from its largest landlord, LXi REIT, for £210m ($261.26m).
This deal, which was concluded by the end of February, received backing from GoldenTree Asset Management, the owner of Travelodge.
It was part of the company’s broader strategy to optimise its hotel portfolio and improve the balance between freehold and leasehold properties for greater value.
