Category : Commercial General property news
Hotel company Travelodge has said it is to spend over £28 million on constructing a series of new hotels around the UK.
It has announced that nine new hotels will be built, all in areas that attract a large number of business customers or tourists, reports Property Week.
The new constructions are scheduled to be open inside 18 months and will add to the 44 new hotels the company is opening this year as it seeks to acquire a ten per cent share of the UK hotels market.
News of the move follows the initiative by Whitbread to expand its Holiday Inn portfolio in west and central London, which the same magazine reported earlier this week.
This £100 million plan includes the £18.5 million purchase of three hotels and the construction of three more.
Last month the two hotel firms held talks over a possible merger but failed to agree a deal.
© Adfero Ltd
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