Budget hotel brand Travelodge has reported a 9% increase in total revenues to £680.2m for the year ending 31 December 2018.
The group also saw like-for-like RevPAR increase by 3.2% to £41.69 during the period, from 2.9% the previous year, and occupancy was also up 2.5 points to 78.5%.
It said the strong growth helped to mitigate the impact of “significant” cost increases, particularly the National Living Wage, business rates and the costs associated with its improved occupancy – with EBITDA increasing by £10.2m to £119m during the 2018.
Additionally, 17 hotels opened during the year, with a further three opening shortly after the year ended, and its SuperRooms concept rolled across 47 properties. Travelodge’s UK and Ireland estate now stands at 570 hotels and 43,219 rooms.
A statement by the group read: “Our strategic focus on location, price and quality has enabled Travelodge to deliver an excellent set of results. We extended our network of hotels, remained focused on delivering attractive prices and took another step forward on quality.
“Once again we outperformed our competitive segment and delivered another year of strong growth.”