Budget hotel chain Travelodge has bought seven properties from Swallow Hotels for £69.9m.
The seven hotels are located in England, Scotland and Wales, and will add 669 rooms to the Travelodge’s portfolio.
Travelodge will spend £5m in refurbishing and branding the Swallow Hotel located in Scarborough and, pending planning permission, a further £2m converting the Swallow Hotel in Edinburgh.
Both hotels will be trading under the Travelodge brand by early 2009.
Paul Harvey, Travelodge’s property director, said: “As price and location continue to drive consumer behavior we are seeing customers shift to budget hotel accommodation. These new hotels, in some of the top UK tourist spots, will add nearly 700 new rooms to our portfolio.”
samantha.mcclary@rbi.co.uk
