Travelodge has acquired four former Ibis hotels as part of its UK growth strategy focused on rebrand opportunities.
The announcement brings the total number of other operators’ hotels acquired by Travelodge this year to 16.
Located in Preston, Bradford Shipley, Chesterfield and Cardiff, the hotels comprise a total of 324 rooms.
Each is located in a favourable position, with excellent transport links and access to local attractions.
Travelodge has acquired the freehold interest in three of the properties, with Cardiff acquired under a new, 25-year lease agreement.
As part of its multi-million pound refit upgrade programme, the hotels will be refurbished to include a contemporary reception area, next-generation rooms and enhanced interiors designed for comfort and functionality.
Travelodge currently operates over 610 hotels across the UK, Ireland and Spain, with plans to target 300 more locations in the UK and 20 in Spain.
The acquisitions highlight Travelodge’s focus on rebranding opportunities but it will also continue to open new hotels via new development projects and other building (office and retail) conversions.
The company will maintain its major investment in its growth programme, enhancing the value of its business through the diversification of freehold and leasehold assets.
Steve Bennett, Chief Property and Development Officer at Travelodge, said: “These acquisitions are another strong addition to our UK portfolio and demonstrate the continued momentum behind our rebrand-led growth strategy. We’re seeing increasing opportunities to convert well-located, existing hotels into Travelodges and we’re actively looking for more.
“These hotels are able to open much quicker than new development schemes, as no planning or other consents are required. They also remove other competitors’ room stock from the market, rather than adding new supply, so they are a great way for Travelodge to open new rooms.
“Our strategy remains focused on acquiring and developing hotels in areas where we know there is customer demand, to give even more people access to high-quality, great-value accommodation and we have identified over 300 locations throughout the UK with sufficient demand drivers to open a new Travelodge.”
