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Travelodge, the UK’s first budget hotel brand, which operates over 600 hotels across the UK, Ireland and Spain, has agreed to acquire the former Ibis hotel at The Bromley Mall in Bromley town centre, South East London.
Travelodge has agreed a 25-year lease with the building owner and will begin refitting the 59-room hotel this month, with a target of opening the hotel for business by Easter 2025.
Steve Bennett, Chief Property and Development Officer, comments, “Travelodge is delighted to continue the expansion of our network of hotels throughout London. We have entered into a 25-year lease to operate this new hotel in Bromley, which we are certain will be a fantastic addition to our portfolio.
“Whilst we already operate 82 Travelodge hotels in London, many of the London Boroughs have very few branded budget hotels and there are lots of locations with high demand for great value, good quality accommodation. So, London remains a key focus for our UK development team and we are actively seeking suitable hotel opportunities across the capital, with over 100 locations on our London target requirement list.
“We are open to a range of development types, such as office conversions, acquisitions of going concerns and forward funded new developments, and are keen to explore all available opportunities.”
Travelodge already operates 82 hotels and over 10,000 rooms in the London Boroughs and the chain continues to expand across the Capital. Travelodge recently acquired an office building in St Paul’s, for conversion into a 95-room hotel subject to planning permission, in the Group’s first freehold acquisition for conversion, and has also recently exchanged contracts to open a new hotel in Upminster, London, with construction having started to transform a town center site into a new, 82-room hotel.
In addition, there are a further three Travelodge hotels under construction in London, at Beckenham, Chiswick and Stratford. The Group is actively seeking further development opportunities within the M25, ranging from office conversions and new build developments to going concerns and Local Authority deals.
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