Grant Hearn, the CEO of Travelodge, is to step down after 10 years with the company.
Having previously worked as the managing director of Hilton UK & Ireland, Hearn joined Travelodge as CEO in 2003. He stayed in the position until 2010 when he was appointed chairman. However, in April 2012 he was asked to return as CEO to oversee a financial restructuring programme.
Hearn will remain within the role until the board finds a suitable replacement.
Brian Wallace, Chairman of Travelodge, commented: “Grant has been an outstanding leader for Travelodge. Under his leadership, the brand has been repositioned from a roadside hotel operator to being one of the UK’s leading hotel brands. The company’s portfolio has more than doubled in size and today Travelodge is a household name with an exceptional digital presence. Grant leaves behind an extremely capable team, one which is already working on building the next exciting growth phase for Travelodge.
“On a personal note, I have known Grant for over 12 years and I wish him every success for the future. I am very grateful that Grant will continue as Travelodge’s CEO through this transitional period.”
Travelodge has a portfolio of 520 hotels across the UK, Ireland and Spain. The firm is currently in the middle of a GBP57 million refurbishment project which is seeing an average of 50 rooms per day being renovated.
Grant Hearn said: “Travelodge has been an integral part of my life over the past ten years and this has been an incredibly tough decision for me to make. It has been a real privilege to lead the Travelodge team and work alongside some of the most talented people in the industry. Together we have built Travelodge into one of the UK’s best hotel brands and made staying away in a hotel an everyday concept.
“Now, that Travelodge has a solid foundation under new committed ownership and is one of the UK’s most recognised brands. I feel comfortable that the company is in a strong and secure position for me to move on. Also with Brian’s extensive experience of the hotel industry, I believe the Travelodge brand will continue to grow from strength to strength. Exciting plans lie ahead for the business and for the new CEO, who will drive this next phase of development and growth.”
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