TRAVELODGE HAILS FIVE-YEAR TURNAROUND

Budget hotel group Travelodge says its positive 2018 performance caps a ‘five-year transformation’ for the business.

Total revenue was up 8.8% in 2018, at £693.3million, while the group opened 17 new hotels, rolled out its first ‘premium economy’ Superrooms and opened its first ‘budget chic’ Travelodge Plus hotel. Occupancy over the course of the year also rose – by 2.5% to 78.5% – while the average room rate was static at £53.09. In the five years since 2013 sales have increased by over £250million and EBITDA has more than trebled to £122million.

“Once again we outperformed our competitive segment and delivered another year of strong growth,” says Peter Gowers, Travelodge Chief Executive. “These are uncertain times and we are not immune from the short-term challenges, but beyond, we remain confident that there are more opportunities ahead.”