Travelodge doubles new hotel openings
BUDGET hotel chain Travelodge said it would double the number of new hotels opened this year as annual revenues rose 20 per cent.
The group – which operates 330 sites – said it was preparing to open 44 UK sites during 2008, up from 23 last year.
Revenues in London soared by 32 per cent in 2007 to help overall turnover rise to £243.8 million for the year, with underlying earnings up 30 per cent to £55.8m.
News of the revenues jump followed weekend speculation that Travelodge was in talks with Premier Inn owner Whitbread to create a £3 billion budget hotel giant. Travelodge declined to comment on the merger rumours, but gave a positive outlook for its prospects over the year ahead.
It said 2008 trading so far was "very strong", adding that 24 hotels were under construction across the UK, with planning secured for a further 39.
Original source : Business.Scotsman.com
