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Travelodge Barcelona Cornella Fira – Image Credit Travelodge
Travelodge has today announced that it has completed the acquisition of a hotel in Barcelona – the 6th and final hotel acquired as part of the previously reported deal agreed with Louvre Hotels Group earlier this year.
Travelodge Barcelona Cornella Fira is a 138-room hotel that Travelodge will operate on a long-leasehold basis. The five other hotels in this deal located in Alicante, Barcelona, Madrid, Malaga and Murcia were acquired on a freehold basis and completed in April. The acquisition builds on Travelodge’s existing strongly performing Spanish business, bringing its presence in the Spanish market to 12 hotels.
Jo Boydell, CEO of Travelodge, says: “Spain is an important market for us, we have been progressing our exciting growth plans, doubling our presence there this year with this acquisition, and also signing three further new build lease agreements.
“We are pleased to announce the completion of Travelodge Barcelona Cornella Fira, which will be our fourth hotel in Barcelona and we look forward to welcoming our new colleagues to the Travelodge team.
“We have ambitious plans to grow our hotel network further over the next few years, providing great value choices to business and leisure travellers across Spain.”
In October, Travelodge announced it had agreed deals for three new hotels in Spain located in San Sebastian, Cadiz and Alicante. All three are new constructions, with work due to commence in 2025. The addition of these three hotels, once open, will bring its Spanish estate to 15 hotels.
Travelodge has nearly four decades of expertise in operating budget hotels, due to its prominent presence in the UK. To help capitalise on its Spanish growth opportunity, the group identified initial target markets for the development team to seek opportunities – areas that currently have a shortage of good quality, economy branded accommodation. Target markets now include: Barcelona, Madrid, Valencia, Alicante, Bilbao, Málaga, Palma Mallorca, San Sebastián, Seville, Benidorm, Córdoba, Gerona, Granada, Las Palmas De Gran Canaria, Santiago de Compostela, Santander, Tarragona, Valladolid and Zaragoza.
