Travelodge acquires four former Ibis hotels in the UK
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.
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.
Kanchan Nath