Travelodge acquires 11 sites as part of wider UK expansion
Budget hotel operator Travelodge has announced plans to acquire 11 hotels across the UK, as part of its goal to open 15 new hotels this year.
Nine of the acquisitions are former Hotel Campanile properties, comprising a total of 951 rooms. Of these, five are being acquired on a freehold basis and four on long leaseholds.
The move aligns with Travelodge’s strategy to balance its freehold and leasehold portfolio. These hotels are located in Birmingham, Bradford, Dartford, Leicester, Liverpool, Manchester, Northampton, Milton Keynes, and Swindon.
Budget hotel operator Travelodge has announced plans to acquire 11 hotels across the UK, as part of its goal to open 15 new hotels this year.
Nine of the acquisitions are former Hotel Campanile properties, comprising a total of 951 rooms. Of these, five are being acquired on a freehold basis and four on long leaseholds.
The move aligns with Travelodge’s strategy to balance its freehold and leasehold portfolio. These hotels are located in Birmingham, Bradford, Dartford, Leicester, Liverpool, Manchester, Northampton, Milton Keynes, and Swindon.
The remaining two hotels are in Bromsgrove and Wakefield. The Bromsgrove property, previously an Ibis hotel, is being refurbished under a new 25-year lease and is expected to open in May with 43 rooms.
In Wakefield, Travelodge has taken a 25-year lease on the 74-room former CitiLodge hotel, which is being rebranded and converted by the building’s owner, with an opening scheduled for August.
Additionally, Travelodge recently launched a new hotel at Bromley Mall shopping centre.
Formerly a 59-room Ibis hotel, the property was acquired in January, fully refurbished to the Travelodge brand standard, and began trading last month under a 25-year lease.
Last year, Travelodge completed its first major freehold acquisition, purchasing 66 hotels from LXi REIT for £210m with support from GoldenTree Asset Management.
In 2024, Travelodge generated £1.036bn in revenue (£1.035bn in 2023), maintaining strong occupancy levels despite a softer market. EBITDA stood at £224.1m.
The chain currently runs 588 UK-based hotels.
Steve Bennett, chief property and development officer at Travelodge, said: “The acquisition of these hotels marks another positive step in our UK development strategy, as we seek to grow and optimise our estate of hotels and enhance value by diversifying our freehold and leasehold split.
“There are still many locations throughout the UK and Spain where we can open a new Travelodge hotel, to provide great value and quality accommodation. Acquisitions of properties which can be rebranded to Travelodge are a key part of our development strategy, as we look to continue to grow our footprint. We have a requirement to open over a further 300 hotels across the UK and are seeking prime opportunities when they become available”.
