Travelodge sees 9% revenue rise, 100 new hotels to be built
Budget hotel chain Travelodge has said it plans to build 100 new hotels across the UK over the next five years, creating approximately 3,000 new jobs.
Figures released by the hotel chain shows it saw an 8.8% rise in revenue, with income at £693.3m in 2018 ending 31 December. Adjusting earnings increased to £122m, up £9.6m.
Travelodge chief executive Peter Gowers told the BBC that strong growth in London was being offset by declining sales in the rest of the UK. He added: “These are uncertain times and we are not immune from the short-term challenges, but beyond, we remain confident that there are more opportunities ahead.
“We've invested in better quality and choice for our guests, while staying true to our budget roots.”
The chain has 575 existing properties across the UK. It has not yet been confirmed if the new hotels will be equipped with conference or meeting facilities.