Travelodge announces record results as it experiences 'robust' business travel demand

Travelodge has announced record results for the nine months to September 30, which it described as reflecting the continued resilience of the UK budget hotel market.
Greg Wright
By Greg Wright
Published 23rd Nov 2023, 11:22 BST

The business delivered a 16.7 per cent increase in revenue to £782m as it continued to experience “robust business travel demand” across customers ranging from tradespeople to FTSE 100 company executives.

Jo Boydell, Travelodge Chief Executive, said: “I am pleased to announce a record performance for the quarter, reflecting continued demand from Travelodge's diverse range of leisure and business customers who seek affordable, quality accommodation.

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"We continue to invest in our business to drive growth and strengthen our brand proposition.

Jo Boydell, Travelodge Chief Executive, said: “I am pleased to announce a record performance for the quarter, reflecting continued demand from Travelodge's diverse range of leisure and business customers who seek affordable, quality accommodation. (Photo by Jeff Spicer/PA Wire)Jo Boydell, Travelodge Chief Executive, said: “I am pleased to announce a record performance for the quarter, reflecting continued demand from Travelodge's diverse range of leisure and business customers who seek affordable, quality accommodation. (Photo by Jeff Spicer/PA Wire)
Jo Boydell, Travelodge Chief Executive, said: “I am pleased to announce a record performance for the quarter, reflecting continued demand from Travelodge's diverse range of leisure and business customers who seek affordable, quality accommodation. (Photo by Jeff Spicer/PA Wire)

"Our room and hotel transformation continues at pace – we will have refitted approximately 25 per cent of the room estate by the end of this year, with plans to accelerate this investment to upgrade approximately 50 per cent of the room estate by the end of 2024.

"We also launched our multi-million-pound “Better get a Travelodge” advertising campaign in September.”

"We are encouraged to see the positive trading patterns continuing into Q4 (the fourth quarter) as we benefit from staycations, event bookings and continued demand from customers seeking value for money. Travelodge's affordable proposition, together with our well-invested and diversified hotel network, positions us well to deliver long-term growth.”

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