News

Travelodge plans 15 UK hotel launches this year

News

Shifali Gorka

27 March 2025

Hotels

London

Travelodge Group is set to open 15 new UK hotels this year.

The company has already launched London Bromley and secured contracts for nine additional hotels to be rebranded and fully refurbished in 2025. Four more leasehold hotels are also scheduled for later this year.

Last year, Travelodge completed its first major freehold acquisition, purchasing 66 hotels from LXi REIT for £210m with support from GoldenTree Asset Management.

It also opened five new UK hotels, including sites in Bermondsey, Rotherham, Colchester, Bristol, and Kennington, south London. Additionally, it acquired a prime office building near St Paul’s Cathedral, EC4, which will be converted into a 95-bed hotel.

In Spain, Travelodge doubled its footprint by acquiring six hotels from Louvre Hotels Group in April. With plans to expand in 20 key Spanish markets, the company is pursuing new developments and rebrand acquisitions.

It has signed deals for three new-build hotels set to open within three years, with further expansion in the pipeline.

Financially, Travelodge generated £1.036bn in revenue for 2024 (£1.035bn in 2023), maintaining strong occupancy levels despite a softer market. EBITDA stood at £224.1m.

London saw weaker performance due to softer rates and lower corporate demand, while regional locations performed better.

Rising costs, including wage increases and national insurance contributions, are expected to add £21m to 2025 expenses, but the company said it will continue to focus on cost efficiencies through technology and innovation.

Jo Boydell, Travelodge chief executive, said: “Travelodge delivered a solid performance, with results in line with expectations for 2024, reflecting resilient demand from both business and leisure customers. Occupancy slightly exceeded 2023 levels, though market rates were softer overall, particularly in London.

“Looking ahead, market fundamentals remain strong, and Travelodge sees exciting growth opportunities. We continue to invest in growth, quality and efficiencies, while further expanding and optimising our presence through a strong freehold and leasehold development pipeline in the UK and Spain. With a strong brand, efficient operating model and well-invested hotel network, we are well-positioned for long-term growth in the budget hotel sector.”

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Travelodge Group is set to open 15 new UK hotels this year. The company has already launched London Bromley and secured contracts for nine additional hotels to be rebranded and fully refurbished in 2025. Four more leasehold hotels are also scheduled for later this year. Last year, Travelodge completed its first major freehold acquisition, purchasing 66 hotels from LXi REIT for £210m with support from GoldenTree Asset Management. It also opened five new UK hotels, including sites in Bermondsey, Rotherham, Colchester, Bristol, and Kennington, south London. Additionally, it acquired a prime office building near St Paul’s Cathedral, EC4, which will be converted into a 95-bed hotel. In Spain, Travelodge doubled its footprint by acquiring six hotels from Louvre Hotels Group in April. With plans to expand in 20 key Spanish markets, the company is pursuing new developments and rebrand acquisitions. It has signed deals for three new-build hotels set to open within three years, with further expansion in the pipeline. Financially, Travelodge generated £1.036bn in revenue for 2024 (£1.035bn in 2023), maintaining strong occupancy levels despite a softer market. EBITDA stood at £224.1m. London saw weaker performance due to softer rates and lower corporate demand, while regional locations performed better. Rising costs, including wage increases and national insurance contributions, are expected to add £21m to 2025 expenses, but the company said it will continue to focus on cost efficiencies through technology and innovation. Jo Boydell, Travelodge chief executive, said: “Travelodge delivered a solid performance, with results in line with expectations for 2024, reflecting resilient demand from both business and leisure customers. Occupancy slightly exceeded 2023 levels, though market rates were softer overall, particularly in London. “Looking ahead, market fundamentals remain strong, and Travelodge sees exciting growth opportunities. We continue to invest in growth, quality and efficiencies, while further expanding and optimising our presence through a strong freehold and leasehold development pipeline in the UK and Spain. With a strong brand, efficient operating model and well-invested hotel network, we are well-positioned for long-term growth in the budget hotel sector.”