Travelodge & Walker Modular Continue Their Relationship

Description

Travelodge and Walker Modular exchange contracts for six new hotels across the UK. These developments represent an investment of £41.5 million. The six properties will boost Travelodge’s portfolio to 517 hotels and 38,359 rooms in which Walker Modular have played a key role.

The largest hotel development in today’s announcement is being built in the heart of Glasgow city centre on Queen’s Street. The 171 room hotel is being funded by Business Premises Renovation Fund and represents an investment of £12 million. This development is an office conversion of the former Charlotte House building. Anglo Holt are aiming to have the hotel ready for the start of the Commonwealth Games in July 2014. This opening is also Travelodge’s biggest hotel in Glasgow and will boost its portfolio to six properties in Scotland’s biggest city.

The second property is a 104 room hotel in Greenwich, London. This is the Company’s second hotel to open in Greenwich within the last 18 months. This hotel will form part of Cathedral Group’s ‘The Movement’ development. It is being funded by R&D LLC and the contractor is Anglo Holt. The hotel represents an investment of £8.3 million and is scheduled to be opened in September 2014.

The third development is an 86 room hotel in Raynes Park, London. Located in Raynes Park Village and yards from the station, this hotel will be Travelodge’s second property in the London Borough of Merton. It is being funded by a private investor and the contractor is Anglo Holt. The hotel represents an investment of £6.9 million and is scheduled to open in September 2014.

Greenwich and Raynes Park Travelodge hotels will ensure the company maintains its title as London’s biggest hotelier with 62 hotels.

The fourth property is a 41 room hotel in Ryde. It is Travelodge’s second hotel on the Isle of Wight and is ideally located on Lind Hill with easy access to the ferry terminal. The hotel has been funded by Barclays Bank and represents an investment of £2.3 million. The hotel is scheduled to open in April 2014.

The fifth hotel is an 84 room property in the heart of Southampton’s city centre. It is Travelodge’s second hotel in the city centre and represents an investment of £5.5 million. The development is a converted office block previously occupied by Lloyds Bank. The hotel is being funded by Downing Finance and the contractor is Anglo Holt. It is scheduled to open in July 2014.

The sixth property is a 93 room hotel in Winnersh and represents a £6.5 million investment. It is located adjacent to Segro’s large HQ Winnersh office development and is perfectly located for the Thames Valley business community. Parks Trust has purchased the site and will fund the development. The contractor is Marshall Building Construction. The hotel is scheduled to open in December 2014.

All of the hotel rooms in the six properties will incorporate Travelodge’s new room design which is currently being rolled out across the estate. This is part of a £223 million brand refresh programme to help the Company grow its business, strengthen its product offering and make Travelodge the best value hotel chain in the UK.

Spokesman M J Poole “Walker Modular are looking forward to working with Travelodge on their ‘Brand Refresh Programme’ with their new room design which we have incorporated within our fully refurbished showroom in Hull.”