The group, which has almost 600 establishments, said it was investing heavily in its premium look and feel budget-luxe design. This year, 60 Travelodge sites in “popular business and staycation destinations” across the UK are being upgraded to the new design.
Releasing 2021 financial results for the group, which opened its first hotel in 1985, chairman Martin Robinson said: “Travelodge reinforced its position as a resilient business with a powerful brand throughout a challenging 2021.
“Trading so far in 2022 has been extremely encouraging, despite a slow start amidst the Omicron restrictions in January, and we are excited to launch our new budget-luxe hotel design, which offers a more premium look and feel whilst maintaining our great value price proposition.
“This is our most radical brand transformation to date and has been created in response to Britain becoming a nation of budget travellers, with more of us choosing to stay in budget hotels.”
Results for 2021 showed that total underlying revenues were down 23.1 per cent to £559.8 million, compared with 2019’s pre-pandemic total.
Revenues per available room, or RevPAR, seen as a key industry measure, fell 21.5 per cent, to £33.05, from £42.09 in 2019.
Despite the challenging year amid the pandemic, 17 hotels were opened.
Robinson added: “With our large, diversified network of hotels, strong brand, value proposition, and focus on domestic budget travel, we are well positioned to benefit in the anticipated recovery.”