Apr 10, 2017

Travelodge makes more out of business than leisure visitors

Operating profits for 2016 are up £5m to £110m. "This year just gone, we've overtaken leisure customers with business customers for the first time... since our restructuring," said Travelodge chief executive Peter Gowers. "Historically, our mix tended to be about 55% leisure, 45% 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." Travelodge has started work on a new hotel in the City of London, near the landmark office building known colloquially as "The Gherkin". Goldman Sachs, Avenue Capital and GoldenTree Asset Management, the firms that took control of Travelodge in 2012, were not expected to hold on to the company long-term after its restructuring. Travelodge operates more than 500 hotels in the UK, Ireland and Spain.

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