Travelodge, the most popular UK budget hotel chain, wants to grow its brand in Spain. The brand has stated there is a massive gap in the market for cheaper price hotel stays.
Starting with taking over an existing Madrid hotel (the 78 room NH Villa de Coslada hotel) – with plans to take over many more properties in Spain.
Travelodge has appointed investment specialist Aldaba Partners to help the chain grow its portfolio in Spain.
“At present, the Spanish hotel market is dominated by independent hotel owners, franchise and management agreement operators and shorter leasehold operators,” said Travelodge in a statement.
“However, our research showed that investors are increasingly looking for stable long-term income streams in support of Spain’s growing tourism industry. This fits well with Travelodge’s traditional long-term fixed lease model, as used in the UK.
Currently Travelodge has 6 hotels in Spain including:
Barcelona Fira, Barcelona Poblenou, Madrid Alcala, Madrid Torrelaguna, Madrid Coslada Aerouerto, Valencia Aeropuerto
Travelodge has take on a 20-year lease to operate its latest hotel in Madrid, which will undergo refurbishment as a “budget-luxe” property in the coming months.
The property will remain open during the renovation process.
Locations that the chain want to expand to include: Barcelona, Madrid, Alicante, Bilbao, Granada, Malaga, Palma, Seville and Valencia.
