Travelodge expands in Spain, UK
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Demand for cheap business accommodation is driving Travelodge’s expansion in the country, after announcing two new hotels.
The budget hotel chain has opened a hotel in Barcelona close to the city’s ‘Silicon Valley’ area after spending EUR30 million developing the hotel.
It is the company’s fifth hotel in Spain, with its sixth to open in Madrid this summer.
“The demand for branded budget accommodation is rapidly growing across Spain. Like the UK market the recession has forced many Spanish businesses and financial institutions to make cutbacks. As a result, we have seen a significant rise in corporate business come through our doors,” said Paul Harvey, managing director of Travelodge on the new openings.
“The opportunity to grow inSpainis still huge as the branded budget hotel sector represents just two per cent of total hotel stock. This is substantially lower than other European countries such as France which is 24% and the UK which currently stands under 20%,” he added.
In addition, the chain is to open its seventh hotel in Liverpool this Friday (10 May). After opening the company will have a total of 522 rooms in the city.