Taylor Swift’s Eras Tour provided boost for Travelodge in 2024

Underlying earnings stood at £224.1m last year, with the group saying on a comparable basis adjusted earnings fell 11 per cent to £211.5m as it faced “softer market rates and continued industry-wide inflationary pressures”.

Occupancy levels were slightly higher thanks to people going to more events, such as Wimbledon, Cheltenham Festival, concerts including Taylor Swift’s Eras Tour and business conferences. However, the group cautioned that sales have dipped in recent months due to fewer events and slower corporate demand, and weaknesses in the wider market. Revenue per available room – a key measure of demand for hotels – fell slightly year on year in the first quarter so far, with declines led by London.

Jo Boydell, chief executive of Travelodge, said: “The first quarter is typically quieter for Travelodge and we have seen a slight decline in demand due to several external factors, including fewer events being held across the UK. However, we are encouraged by improving indicators, including strong long lead event demand, with more events now announced for 2025 than in all of 2024.