Travelodge, the UK’s first budget hotel brand, which operates over 610 hotels across the UK, Ireland and Spain, has exchanged contracts to acquire four former Ibis hotels as part of its UK growth strategy focused on rebrand opportunities. This announcement brings the total number of other operators’ hotels acquired by Travelodge to 16 this year.
The hotels, located in Preston, Bradford Shipley, Chesterfield and Cardiff, comprise a total of 324 rooms. Travelodge has acquired the freehold interest in three of these properties, with Cardiff acquired under a new, 25-year lease agreement.
As part of Travelodge’s multi-million pound refit upgrade programme, these hotels will be refurbished later this year to reflect Travelodge’s latest design standards, including its contemporary reception area, next generation rooms, and enhanced interiors designed for comfort and functionality.
Each hotel is located in a strong position, with excellent transport links and access to local attractions:
- Preston North: Close to the M6, this 82-room hotel offers easy access to Preston city centre, Manchester and the Lake District.
- Bradford Shipley: A scenic, canal-side, 78-room hotel, a short walk from the UNESCO World Heritage Site of Saltaire Village, and well connected to Leeds by rail.
- Chesterfield Town Centre: Within walking distance of the town centre and railway station, with nearby attractions including theatres, museums and the Peak District – this 86-room hotel is also just a short drive from Chatsworth House.
- Cardiff Gate: A 78-room hotel, located just off the M4, near Cardiff Gate Business Park and within easy reach of Cardiff city centre and Cardiff International Airport.
These latest acquisitions highlight Travelodge’s focus on rebrand opportunities as a key part of its wider UK development strategy, although the company also continues to open new hotels via new development projects and other building (office and retail) conversions.
Travelodge has identified 300 more locations to target in the UK and 20 more in Spain. The company intends to maintain its major investment in its growth programme, enhancing the value of its business through the diversification of freehold and leasehold assets, and is seeking more well-located hotels that meet its branding and customer experience criteria.
Steve Bennett, Chief Property and Development Officer at Travelodge, comments: “These acquisitions are another strong addition to our UK portfolio and demonstrate the continued momentum behind our rebrand-led growth strategy.
“We’re seeing increasing opportunities to convert well-located, existing hotels into Travelodges, and we’re actively looking for more. These hotels are able to open much quicker than new development schemes, as no planning or other consents are required, and they also remove other competitors’ room stock from the market, rather than adding new supply, so they are a great way for Travelodge to open new rooms.
Our strategy remains focused on acquiring and developing hotels in areas where we know there is customer demand, to give even more people access to high-quality, great-value accommodation, and we have identified over 300 locations throughout the UK with sufficient demand drivers to open a new Travelodge.”
Travelodge now operates over 610 hotels, with a requirement to open more than 300 additional locations across the UK.
