Travelodge Expands Again
UK budget hotel chain Travelodge has announced the addition of seven new properties to its portfolio. Travelodge acquired two hotels from Swallow Hotels and exchanged on a further five for a combined investment total of £69.9m. The seven hotels, which will follow Travelodge's
UK budget hotel chain Travelodge has announced the addition of seven new properties to its portfolio.
Travelodge acquired two hotels from Swallow Hotels and exchanged on a further five for a combined investment total of £69.9m.
The seven hotels, which will follow Travelodge’s preferred leasehold model, are located in England, Scotland and Wales and will add 669 rooms to the company’s portfolio.
Travelodge will invest £5m in refurbishing and branding the Swallow Hotel in Scarborough and, pending planning permission, will spend £2m converting the Swallow Hotel in Edinburgh.
Both hotels will be trading under the Travelodge brand by early 2009.
A further £34.5m will be invested in the remaining five hotels, located in London’s Finsbury Park, Porthmadog, Gloucester, Caernarfon and Egham.
By Elizabeth Clifford-Marsh