Travelodge Doubles Spanish Presence with Six-Resort Buy

Travelodge, a number one UK finances resort chain with round 600 motels, introduced at this time that it’s buying six motels from Louvre Resorts Group in Spain. The acquired motels, totaling 773 rooms, function beneath the Resort Campanile model. 5 of those motels are freehold properties, whereas the remaining one is an extended leasehold.

The properties are situated in Alicante, Barcelona, Madrid, Malaga, and Murcia and might be managed by the Spanish subsidiaries of the Travelodge OpCo Group. This transfer doubles Travelodge’s current portfolio of six motels in Spain.

Travelodge’s CEO, Jo Boydell, acknowledged that Spain is a big marketplace for the corporate, with ample potential for growth as a result of an absence of high-quality, low-cost, branded lodging. The acquisition is a part of the corporate’s Spanish growth technique, aiming to offer extra choices and worth to each enterprise and leisure vacationers.

Earlier this yr, the Travelodge PropCo Group, a brand new property holding group, was established to buy 66 freehold and lengthy leasehold belongings within the UK from T&L Holdco Restricted. T&L Holdco Restricted is the father or mother firm of Thame and London Restricted, the main firm within the Travelodge OpCo Group.

The corporate opened its first Spanish resort in Madrid in 2004 and expanded to Barcelona quickly after. The corporate’s Spanish motels cater to enterprise and leisure friends, providing a wide range of room varieties, meals at reasonably priced costs, and Wi-Fi. All motels are additionally pet-friendly.