Travelodge sales boosted as more customers seek budget hotels

Travelodge is led by Jo Boydell (Travelodge)

Travelodge is led by Jo Boydell (Travelodge)

Travelodge expects to benefit from consumers reacting to the cost-of-living crisis by swapping more upmarket hotels for budget ones, the accommodation giant said as it revealed higher sales.

The company, which has nearly 600 sites that are mainly in the UK but also in Ireland and Spain, added in its results update that it plans to open around eight new hotels this year. The chain last month said there is potential to boost its network with 300 more UK Travelodges.

The expansion comes after the total underlying revenue has jumped to £909.9 million in 2022, up from £559.7 million a year earlier and £727.9 million pre-pandemic in 2019.

During the same period revenue per room was £52.59, compared with £33.04 and £42.46.

It was helped by opening six hotel openings in 2022 , but also the industry bounce back from the pandemic with a host of events that boosted tourist demand for accommodation, such as the Commonwealth Games in Birmingham and the Jubilee.

Chief executive Jo Boydell said: “The market recovered, with strong demand for events and short staycation breaks throughout the year as well as for essential business travel and we continued to outperform the midscale and economy segment.”

The boss added: “Whilst the current macro-economic environment creates some uncertainty, the budget hotel segment has proven resilient as consumers continue to search for great value options within the marketplace.”

EBIDTA (adjusted) reached £212.9 million last year, up from £81.8 million in 2021.

Trading in the first quarter of 2023 has remained strong with accommodation revenue of approximately 30% ahead of 2022 levels. While business demand is improving, central London midweek days recovered slowest hit by rail strikes.

Travelodge, which is owned by Golden Tree Asset Management LP, said it completed a refinancing last month. It went through a CVA process with landlords in 2020 during the Covid-19 crisis.

Leave a Reply

Your email address will not be published. Required fields are marked *

ladangtoto link slot gacor server thailand ladangtoto ladangtoto slot zeus slot thailand slot server thailand ladangtoto link server thailand login ladangtoto ladangtoto terbaru slot pg soft mahjong ways login gacor88 situs slot thailand gacor88 link alternatif slot gacor gacor88 indoslot cara login daftar ladangtoto login ladangtoto ladangtoto ying77 slot link server thailand link alternatif ladangtoto ladangtoto resmi link alternatif ladangtoto 2 ladangtoto login slot server thailand maxwin 66kbet gacor hari ini daftar dewaslot ladangtoto slot mahjong ways 2 gacor slot thailand asli daftar ladangtoto slot idn gacor rtp ladangtoto 66kbet link tergacor slot77 login games online easy win ladangtoto link alternatif akses ladangtoto ladangtoto login resmi ladangtoto2 ladangtoto resmi gacor situs bandar ladangtoto 66kbet starlight princess login ladangtoto resmi bandar togel ladangtoto 66kbet 66kone ladangtoto slot777 gacor slot mahjong ways terbaik ladangtoto rtp maxwin slot gacor mahjong pg soft slot gacor thailand gampang menang 66kbet Link Starlight slot777 Ying77 Slot Zeus Ying77 Anti Rungkad GB777 slot thailand ying77 akun pro link alternatif ok88slot link ok88slot mahjong ways RajaJp Official Fun77toto Terbaru Fox77 Terlengkap Slot Thailand Link Ladangtoto Withdraw Togel Official PGSlot Resmi raja88jp resmi link slot gacor ok88 888slot maxwin slot777 situs slot gacor server thailand ladangtoto bandar togel joker gaming