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Travelodge concludes business negotiations with hotel chain

Travelodge acquires 52 new venues from Mitchells & Butlers

16 July 2010

Travelodge has acquired 52 new venues after concluding business negotiations with Mitchells & Butlers.

The firm has confirmed that it is to acquire 52 new hotels from Mitchells & Butlers.

Under the terms of the agreement, the budget hotel chain will take on the pub and restaurant group's venues on a 25-year-lease.

It is anticipated that £10 million will be invested in converting the properties into Travelodge hotels, with the move set to create more than 200 new jobs while also supporting 430 existing positions.

Announcing the news, Travelodge chairman Grant Hearn said: "We have an aggressive growth plan in place and with this acquisition we are on track to more than double the size of Travelodge hotels over the next ten years."

He also suggested that the firm could soon be putting its negotiation skills to the test again, stating that it is keen to "explore further opportunities like this deal with other similar businesses".

This takes the number of hotels operated by Travelodge to 452, with the company now offering more than 30,000 rooms.

The news comes as the Manchester Evening News has reported that the accountancy group Montpelier, which is based in the city, is looking into possible acquisitions in both Birmingham and Newcastle.

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