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Travelodge to expand South East portfolio following revenue boost

Travelodge has announced plans to open fifteen hotels during 2015, including four in the South East.

Following the latest opening in Wembley, the budget hotel chain is hoping to open three new properties in Richmond, Greenwich and on the Thames Valley tech corridor.

The company claims it has identified potential for more than 250 further hotels across the UK, with the new hotels expected to support the creation of more than 3,000 new jobs.

For the financial year ending 31st December 2015, Travelodge reported EBITDA up 63.5% to £66.2m, from £40.4m in the previous year.

The group also reported an increase in total revenue of 14.9% to £497.2m.

Peter Gowers, Travelodge chief executive commented: “The value hotel market is performing well and new Travelodge is delivering strong outperformance.

“Customer feedback on our changes has been excellent and we have seen strong growth from business customers.

“The improved guest experience and effective yield management have led to significant profit growth.”

“The momentum we saw in 2014 has continued into the new year and we have seen an encouraging start to 2015.

“The value hotel market remains strong and we continue to outperform our competitive set. We see considerable potential for further like-for-like sales growth and are targeting the roll out of the brand to at least 250 further sites across the UK.”

This was posted in Bdaily's Members' News section by Ellen Forster .