Operating profits are up
After a £100m modernisation programme, Travelodge is now managing to attract more business visitors than those booking for leisure.
The firm has said it’s looking to open 60 hotels over the next three years, one of these will be placed in central London.
Ongoing debts nearly saw the company end but it was soon saved after two US hedge funds bought the chain in 2012.
The firm reported that its operating profits for 2016 are up £5m to £110m.
Travelodge chief executive Peter Gowers, said: “This year just gone, we’ve overtaken [revenue from] leisure customers with business customers for the first time… since our restructuring,”
“Historically, our mix tended to be about 55 per cent leisure, 45 per cent business. Since the investment in quality, we’ve had a lot more success at winning over not just small businesses, which you might expect, but also around half the FTSE 100 use Travelodge in some way, shape or form.”