Travelodge has been one of the biggest UK brands in budget accommodation for some time now.
It is not however resting on its laurels and the group is currently seeking to shore up its dominance by investing a further £84 million. Their plan is to buy and convert already-established hotels in London. What’s more, they want your help to do it.
Travelodge is offering finder’s fees to anyone who assists them in locating suitable sites and has established a development website to fulfil this purpose.
London hotels are currently experiencing a major boom in investment, in the most part due to the forthcoming 2012 London Olympics. Travelodge has already laid out its mission to be the capital’s largest hotel brand by 2012. Their main rival, Premier Inn, is also vying for control with its own expansion plan.
Travelodge’s CEO has described the Olympics as “a once in a lifetime opportunity for the tourism industry,” that Travelodge intends to capitalise on.
With London prices currently skyrocketing in the aftermath of the global financial crisis, there is a growing trend towards budget hotels. The sector is predicted to triple by 2027. This will almost certainly result in increased competition, which should in theory drive prices down.
Budget hotels in London run by Travelodge and Premier Inn often have larger rooms than many hotels in the capital and are also renowned for their functionality. Ideal for families on a budget, business travellers and those on a shoestring, these hotels have growing demand due to their cost effectiveness and reliability.
A new ‘luxury budget’ sector is also emerging in London, with smaller hotel companies such as Base2Stay and Yotel leading the drive to offer innovative mid-price accommodation with perks like plasma screens and free WiFi. These so-called “edited luxury” providers have been extensively profiled on the London Hotels Insight blog with videos, exclusive management interviews and information on promotions.