Travelodge is expanding its portfolio in Spain with the opening of its sixth hotel in the country tomorrow (Wednesday).
The budget chain is adding its third and largest hotel in Madrid at a cost of €12 million.
The purpose built 98-room property is situated in the city’s Julian Camarillo commercial district and offers rooms priced from €29 a night.
To date, Travelodge has invested €80 million and created almost 100 new jobs in Spain with three hotels in Madrid, two in Barcelona and one in Valencia.
Managing director Paul Harvey said: “The budget hotel concept is a growing success in Spain. All of our Spanish properties are trading well.
“As a result of the double dip recession in Spain, we have seen a significant rise in corporate and leisure Spanish travellers switching from high end hotel brands to Travelodge.
“Spaniards want their euro to work hard for them, and as a result they are making savvier choices so that they can obtain real value for money.
He added: “We believe the opportunity to grow in Spain is still huge as the branded budget hotel sector represents just two per cent of total hotel stock. This is substantially lower than other European countries such as France which is 24% and the UK which currently stands at just under 20%.
“From next year we want to focus on growing our presence across Spain’s other big cities such as Granada and Seville.”
The chain will comprise of 517 hotels with the new opening, including 500 in the UK, 11 in Ireland and six in Spain.
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