News

Travelodge expansion

Budgetchain Travelodge is spending £69.9 million to add seven UK properties totalling 669 rooms to its UK portfolio.

Of the total spend, £28.4 million covers the purchase price - the other £41.5 million will go on refurbishments.

Purchases include two Swallow Hotels, in Scarborough and Edinburgh, where re-vamp costs add up to £7 million. They will start trading under the Travelodge brand early in 2008.

Another £34.5 million will be invested in the other five properties, in London's Finsbury Park, Egham in Surrey, Gloucester, and Porthmadog and Caernarfon in Wales.

Travelodge property development director Paul Harvey said: "We continue actively to seek and pursue new development and growth opportunities, and are looking to open a further 4,000 new rooms in 2009."