Three new Travelodge hotels could be coming to Suffolk in the next few years.
Hotel franchise giant Travelodge has earmarked Felixstowe, Newmarket and Lowestoft as potential locations for expansion. The Suffolk area is seen by Travelodge as a key development area that represents high business potential.
The news that it plans to tap into this market follows the opening of a new hotel in Bury St Edmonds in February of this year. The new venue – which was opened by the MP for Bury St Edmonds, Jo Churchill – is the company’s 579th development in the UK.
Travelodge’s UK development director, Tony O’Brien, reflected on the value for investment that Suffolk offers: “The local economy is growing at pace with increasing visitor numbers, however there is still a shortage of good quality accommodation at a great value price”.
“To meet this growing consumer demand, we are actively looking for three hotel sites in the following locations – Felixstowe, Newmarket and a second hotel in Lowestoft”.
But Travelodge’s expansion plan is not just offering great returns for investors. It offers great value for the local community too.
“This is great news for the local economy too, as research shows that our customers will spend at least double their room rate with local businesses during their stay which equates to an average annual spend of £2m”, said the manager of Travelodge Bury St Edmond’s, Graham Atkins.
Travelodge is capitalising on the budget hotel market by expanding its estate across the country. The hotel franchise is looking for new franchise partners who want a slice of the market and are willing to embark on a long term investment project.
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James Muddimer , Point Franchise ©
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