UK hotel chain Travelodge has announced it is expanding its Spanish operation by acquiring the lease of the popular NH Villa de Coslada hotel in Madrid.
In addition, it has appointed global hospitality advisors Aldaba Partners to help grow its Spanish hotel portfolio.
This expansion programme reflects the key findings from comprehensive research, including a study of the Spanish hotel market that Travelodge commissioned from Christie & Co. Research showed that Spain is one of the most visited countries in the world and one of the fastest growing hotel markets across the globe.
However, the study also revealed that there is a significant gap for branded, low cost and good quality accommodation in the midscale and economy segment. This growing segment indexes favourably with modern travellers who are looking for affordable accommodation options.
Steve Bennett, Travelodge,chief property & development officer said: 'We are delighted to launch our Spanish expansion programme by acquiring the lease of the NH Villa de Coslada hotel in Madrid and appointing Aldaba Partners to help us grow our business across Spain.
'The Spanish hotel market is growing at pace with demand exceeding supply and we want to take this opportunity to take the Travelodge brand to new business and leisure locations across Spain.
'We can offer investors and landlords an alternative long-term income stream in Spain, whilst offering business and leisure travellers more choice and great value accommodation.'
To help capitalise on this growth opportunity in Spain, Travelodge has appointed Aldaba Partners, who are renowned across the globe for their comprehensive investment advisory service.
Aldaba Partners will help grow the Travelodge business in Spain by finding suitable hotel sites and third party investors. Key growth locations include: Barcelona, Madrid, Alicante, Bilbao, Granada, Malaga, Palma, Seville and Valencia.
To launch its Spanish expansion programme, Travelodge has acquired the lease of the NH Villa De Coslada hotel in Madrid. The 78-room hotel features an on-site restaurant, bar and car-park and is Coslada’s main hotel, situated close to the Civitas Metropolitano Stadium, IFEMA Convention Center and the airport - making it an ideal base for business and leisure customers.
Travelodge has acquired a 20-year lease to operate the hotel from Grupo Veintidos. The hotel will be renamed Travelodge Madrid Coslada Aeropuerto and the group will invest approximately €1 mln in acquiring the lease and refurbishing the hotel to the new Travelodge budget-luxe premium look hotel design.
Work will commence in May 2023 and the hotel will remain open during this period with an official opening scheduled for this summer.
Travelodge already operates a successful lease hotel model in Spain and Travelodge Madrid Coslada Aeropuerto, will be the group’s sixth hotel in Spain - and its third Travelodge in Madrid.
The group also operates two hotels in Barcelona and one in Valencia. With the addition of this new hotel, Travelodge now operates nearly 600 hotels across the UK, Ireland and Spain.
The Travelodge Spanish operation is managed by Angel Beleno, who joined Travelodge in 2013 as Spain, director of operations and in 2014 was promoted to Spain, general director. Prior to joining Travelodge, he worked for Melia Hotels International and Barceló Hotels and amp Resorts in Spain and Mexico.
