Travelodge, the UK’s pioneering budget hotel provider operating over 610 hotels across the UK, Ireland, and Spain, has finalized contracts to take over four former Ibis hotels as a part of its expansion strategy emphasizing rebranding. This recent acquisition elevates the count of hotels acquired from other operators by Travelodge to 16 this year.

The properties are situated in Preston, Bradford Shipley, Chesterfield, and Cardiff, totaling 324 rooms. Travelodge has secured the freehold interest for three of these hotels, while acquiring Cardiff under a new 25-year lease agreement.

To upgrade these hotels, Travelodge will embark on a multi-million pound refurbishment later this year, aligning them with its latest design standards, which will include a modern reception area, next-generation rooms, and improved interiors for enhanced comfort and functionality.

Each location boasts great accessibility with excellent transportation links:

• Preston North: Located near the M6, this 82-room hotel provides convenient access to Preston city centre and the Lake District.
• Bradford Shipley: A picturesque 78-room hotel adjacent to a canal and a short distance from the UNESCO World Heritage site of Saltaire Village, well connected to Leeds via rail.
• Chesterfield Town Centre: A 86-room hotel within walking distance of local attractions like theatres and museums, and a short drive from Chatsworth House.
• Cardiff Gate: This 78-room hotel is strategically located close to the M4, near Cardiff Gate Business Park, and easily reachable from Cardiff city centre and the Cardiff International Airport.

These acquisitions underscore Travelodge’s strategy to focus on rebranding existing hotels as a significant aspect of its broader UK development agenda. Concurrently, the company is also pursuing the construction of new hotels through development projects and conversions of other office and retail properties.

Travelodge aims to uncover 300 more locations for expansion in the UK and 20 in Spain. The firm is committed to continually investing in its growth initiatives to enhance its asset value by diversifying between freehold and leasehold properties, while seeking additional well-situated hotels that meet their branding and guest experience standards.

Steve Bennett stated, “These acquisitions are another strong addition to our UK portfolio and demonstrate the continued momentum behind our rebrand-led growth strategy. We’re observing a surge in opportunities to convert well-located, existing hotels into Travelodges, which provide quicker openings than new developments since no planning or other approvals are needed. This approach also reduces the room inventory of competitors in the market instead of increasing it, making it an effective strategy for Travelodge to introduce new accommodations. Our focus continues to be on acquiring and developing hotels in regions where we recognize customer demand, ultimately allowing even more people to access high-quality, budget-friendly lodging. We have pinpointed over 300 locations in the UK that exhibit sufficient demand drivers for the establishment of a new Travelodge.”