THAME, ENGLAND Budget chain Travelodge Hotels Ltd. reports a 13% growth in sales in 2010, led by 16% improvement in London.
Occupancy rate improved 3 percentage points, while RevPAR remained mostly flat. Travelodge did not disclose exact figures.
Travelodge CEO Guy Parsons says 2011 performance is thus far in line with expectations, although recent VAT and fuel increases are slowing growth somewhat.
The company plans to invest £300 million this year to open about 35 hotels, bringing the company’s portfolio close to 500. Travelodge acquired 52 hotels last year from Mitchells & Butlers.