Travelodge is planning to accelerate its ambitious expansion programme following its £675m takeover by Tussauds owner Dubai International Capital late last week.
Chief executive Grant Hearn told Caterer that despite remaining on target to add 2,750 new rooms in the UK during the current financial year and 3,000 the year after, if possible, he and his team would "like to go faster".
"We think we've started something very important with Travelodge, and having safeguarded our independence with this deal we want to roll it out," he said.
Travelodge has set itself the target of being the leading budget hotel operator in the capital by the time of the 2012 Olympics, with 7,000 rooms.
Hearn added that the company was in the process of setting up an internal team to deal exclusively with developing the Travelodge brand abroad, most likely through joint-venture partnerships.
Likely overseas targets include Europe, and India, where it has held talks with several parties.
Numis Securities leisure analyst Simon French said that Travelodge increasingly undercut its rival Premier Travel Inn within the budget sector and he believed there was room for both operators to grow in the UK.
Top 5 UK budget hotel chains by size
| |
Owner |
Hotels |
Bedrooms |
| Premier Travel Inn |
Whitebread |
466 |
30,000-plus |
| Travelodge |
Dubai International Captial |
291 |
20,000 |
| Express by Holiday Inn |
InterContinental |
102 |
10,000-plus |
| Innkeeper's Lodge |
Mitchells & Butlers |
79 |
2,300-plus |
| Ibis |
Accor |
44 |
6,000 |
Source: BHA Trends and Statistics, 2005