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Travelodge CEO to step down

Travelodge’s CEO, Peter Gowers, has announced his intention to step down from his role at the company.

Gowers has led the firm since 2013 and will remain as an advisor to the group into 2021 to support with the transition. 

While a permanent replacement has not yet been sourced, the group’s current COO, Craig Bonnar, will become interim CEO, bringing a “wealth of experience” to the role.

Gowers said: “While the time is right for me to now move onto a new challenge, Travelodge is strongly positioned to benefit from the opportunities that arise over the years ahead and with a great and experienced team in place, it is well placed to continue to grow as the recovery continues.” 

The news comes as Travelodge managed to retain 98% of its network of hotels, due to what it called an “overwhelming” level of support from its landlords for a CVA.

Stephen Shurrock, director at the company, said: “With the recently completed arrangements to strengthen the business following the Covid-19 situation and an experienced management team with a proven track record, the company is in a strong position to move into the new year.”

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