Travelodge targets Spain

December 27, 2007

It has been announced that, following a successful trial involving two hotels in Madrid and one in Barcelona, the Travelodge budget hotel company is planning to open 100 hotels in Spain by 2020. The scheme will cost around £700 million and create 2,000 new jobs, and will initially focus on Madrid, Barcelona and Valencia. Travelodge chief executive, Grant Hearn, explained: "we have demonstrated that the Travelodge model works in Spain and the time is right to capitalise on this demand. Travelodge has an important role in international markets, like Spain, which are building high demand for the no-frills approach. There are just 100 budget hotels in Spain and with Spanish travellers taking 143 million domestic trips a year, we think the market potential is huge. We also know that 61 per cent of our 1.5 million UK online customer base is planning to take a trip to Spain within the next three years. We are confident we can deliver strong growth through this combination." For an extensive choice of new and off plan property for sale in Spain on the Costa Blanca and Costa Calida, visit the Novocasa website.