Friday 16 July 2010

Travelodge acquire Innkeeper's Lodges

Travelodge has acquired the leases of 52 Innkeeper’s Lodges from restaurant and pub operator Mitchells & Butlers and as far as we can make out this includes the acquisition of eight Scottish properties - two in Perth one in Cumbernauld, Strathclyde Park, Helendburgh, Balloch, South Queensferry and Corstorphine.

It claims the deal is the largest in the hotel sector since 2008 and will boost its portfolio to 452 hotels.

The hotels include a number of grade ll listed buildings and are next to Mitchells & Butlers restaurants and pubs.

The budget chain said it is going to spend £10m to bring them in line with the Travelodge brand.

It also said it will “seek to retain” all 430 Mitchells & Butlers staff and will look to recruit a further 115 positions, which include 25 hotel manager roles and 90 hotel staff.

It hopes the hotels will be fully operational under the Travelodge brand within four months and rooms will be available from £19 in line with Travelodge’s pricing policy.

Travelodge executive chairman Grant Hearn said: “We have an aggressive growth plan in place and with this acquisition we are on track to more than double the size of Travelodge hotels over the next ten years.

“We hope to explore further opportunities like this deal with other similar businesses.”

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