Travelodge has opened its sixth Spanish hotel in Coslada, Madrid.
Called the Travelodge Madrid Coslada Aeropuerto, the 78-room hotel has been refurbished and rebranded with the help of a €1 million investment. Features include an on-site restaurant, bar and car park.
The new property is the group’s third in Madrid. It also operates two hotels in Barcelona and one in Valencia.
A report conducted with consultancy team Christie & Co highlighted development opportunities in the Spanish market.
It was discovered that budget accommodation is under-represented, with economy and midscale hotel rooms making up 33% of total room supply in comparison to France (59%), the UK (41%) and the US (44%).
The study identified the potential for an additional 15,000 branded rooms in the next five years.
Working with its appointed property agents, Aldaba Partners, Travelodge is planning to grow its Spanish network across Bilbao, Seville, Córdoba, Girona, Granada, Santiago de Compostela, Valladolid and Zaragoza.
Angel Beleño, General Director for Travelodge, Spain said: “Spain is the fourth most visited country in the world. This is creating new opportunities in the Spanish hotel market, especially for the midscale and economy hotel sector, and we want to take this opportunity to bring the Travelodge brand to new business and leisure locations across Spain.
“Our latest acquisition is a prime example of how we can convert an existing hotel into a successful Travelodge, offering investors and landlords an alternative long-term income stream in Spain and providing both business and leisure travellers with more choice and great value accommodation.”