Travelodge acquires 11 UK hotels
According to Travelodge, the acquisition supports Travelodge’s strategy to diversify its freehold and leasehold portfolio, aligning with its broader plan to pursue rebrand opportunities in the UK and Spain
Travelodge has agreed to acquire 11 hotels across the UK, adding to its existing portfolio of 588 UK-based hotels.
The group plans to acquire nine former Hotel Campanile properties across Birmingham, Bradford, Dartford, Leicester, Liverpool, Manchester, Northampton, Milton Keynes, and Swindon, totaling 951 rooms. Five will be acquired freehold and four on a long-leasehold basis.
The other two UK hotels for which Travelodge has recently exchanged contracts are in Bromsgrove and Wakefield. Bromsgrove is a former Ibis hotel, where Travelodge has taken a new, 25-year lease. Featuring 43-rooms, the hotel is currently being refitted by Travelodge and is due to open in May.
The newly acquired hotel in Wakefield is a former independent hotel (CitiLodge), with 74-rooms, and is being converted to the Travelodge brand by the owner, with the hotel expected to open in August, at which time Travelodge will enter into a new, 25-year lease.
Both hotels will be fully refitted to Travelodge’s design and brand standards before opening.
Additionally, Travelodge also recently opened a new hotel in Bromley Town Centre, which was a former Ibis hotel. The company exchanged contracts in January and has fully refitted the hotel to its brand design. The hotel opened for trading last month.
According to Travelodge, the acquisition supports Travelodge’s strategy to diversify its freehold and leasehold portfolio, aligning with its broader plan to pursue rebrand opportunities in the UK and Spain.
Steve Bennett, chief property and development officer at Travelodge, said: “The acquisition of these hotels marks another positive step in our UK development strategy, as we seek to grow and optimise our estate of hotels and enhance value by diversifying our freehold and leasehold split. There are still many locations throughout the UK and Spain where we can open a new Travelodge hotel, to provide great value and quality accommodation.
“Acquisitions of properties which can be rebranded to Travelodge are a key part of our development strategy, as we look to continue to grow our footprint. We have a requirement to open over a further 300 hotels across the UK, and are seeking prime opportunities when they become available.”
