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£100 million to transform Travelodge's fleet in 2014

Travelodge has announced that it intends to make a £100 million investment in its portfolio over the 2014 year. Part of this investment will go into opening 15 new properties over the year, which will create 1,000 new jobs.The 15 hotel openings scheduled for 2014 are centered on the chain's repositioning in key cities. Five of these developments will thus be in London, establishing Travelodge as the largest chain in the capital with 65 hotels under development and in operation. Other locations include Glasgow, Manchester and Southampton.£37 million of the total investment will go into renovations on existing hotels for a total of 11,800 rooms. 200 properties were already renovated in 2013, and the chain is on track to have the majority of its properties updated by autumn 2014. By the end of the year, the Travelodge portfolio will consist of 514 hotels for more than 39,000 rooms.

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