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Travelodge to invest £340m in hotel estate

Travelodge has revealed plans to build 20 new hotels with a combined value around £240m. 

The budget hotel chain, which is embarking on a major expansion plan, also announced a £100m modernisation programme covering its current estate.

Travelodge, which has around 550 hotels in the UK, has stated previously that it wants to build around 100 new UK outlets over the next five years.

In March last year the company announced plans to invest £125m in 15 new hotels during 2017.

Travelodge said today it that its latest batch of new hotels were being developed by third-party investors.

The firm told CN in November that it was looking to target councils in need of funding as a way of finding land to build new hotels.

Travelodge chief executive Peter Gowers said: “Today’s announcement demonstrates Travelodge’s continued investment in the UK.

“Despite the uncertainty caused by Brexit and economic pressures, the UK budget hotel market remains attractive, and we are extending our network.”

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