Budget hotel chain Travelodge plans major expansion in Spain

British low-cost hotel chain Travelodge says it wants to expand its portfolio in Spain after announcing an acquisition in Madrid.

Travelodge has 570 outlets in the UK and currently has two hotels in Barcelona and one in Valencia, as well as two existing sites in Madrid.

It has acquired the lease for the 78-room NH Villa de Coslada hotel in the Spanish capital and has appointed global hospital advisors Aldaba Partners to find new sites.

Travelodge says it is targeting Alicante, Barcelona, ​​Bilbao, Granada, Malaga, Madrid, Palma, Seville and Valencia in its expansion plans.

In a statement, the company said: “Currently, the hotel market in Spain is dominated by independent owners, operators of management and franchise agreements, and shorter lease agreements.”

“Our research shows that there is a significant gap for good-quality, low-cost, branded accommodation in the budget and midscale sector.” she added.

Its acquisition of Villa de Coslada on a 20-year lease will be rebranded as Travelodge Madrid Coslada Aeropuerto and refurbishment work will begin in May, although the hotel will remain open during the refurbishment.

Travelodge’s director of properties and development, Steve Bennett, said: “The Spanish hotel market is growing at a rate that demand outstrips supply and we want to take this opportunity to bring the Travelodge brand to new places of business and leisure in all of Spain”.