Tue, 05 Jul 2011 | COMMERCIAL PROPERTY
Hotel giant Travelodge has acquired 22 new hotels across the UK, in a deal estimated to be worth around £165 million.
The chain’s new purchases – which include hotels based at Glasgow Airport, Gatwick Airport, Newquay in Cornwall and Sittingbourne in Kent – are set to spark a refurbishment work boom as each of the purchases is rebranded.
Five of the hotels are based in London – including in Walthamstow, Bethnal Green and Southgate - with the total 22 hotels comprising 2,198 hotel rooms overall.
Travelodge has also signed a new partnership deal with Arcadia Group Ltd, the clothing retailer, to construct a 96-room hotel above Arcadia’s Topshop store in Princes Street, Edinburgh. The new hotel is slated to open in the summer of 2012, and will be operated on a 35-year lease with Arcadia.
As part of its plans to have 1,100 hotels located across Europe by 2025, Travelodge has already opened 18 hotels this year, with 43 more in the pipeline. Twenty-one of those 43 are expected to open to customers before December 2011.
Travelodge chief executive, Guy Parsons, told Construction Enquirer, “The strength of Travelodge’s growth model has clearly been demonstrated, with the first six months of 2011 being the strongest in the Company’s history.
“We are not just exchanging contracts but most importantly finance is being secured upfront, to enable our developers to start on-site immediately,” he added.
The group consists of two companies: one provides electrical engineering services; the other provides electrical testing solutions. Both companies provide comprehensive turnkey solutions, overseeing projects from inception to completion across variou...
Founded in 1996, ‘Project Voyager’ provides luxurious sleeper coaches for band tours, crew transportation, and events across the UK and Europe.
The company delivers highly regarded therapies for compulsive sexual behaviour disorder (CSBD), helping addicts, their partners, and couples to recover. The programmes are offered in a variety of formats, comprising individual therapies, online sessi...
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.