Travelodge saw half-year profits rise by £1.1 million to almost £45 million in the face of a “tough” market.
The budget chain achieved a 6% rise in revenue to £337.3 million year-on-year against a backdrop of political and economic uncertainty.
Ten new hotels opened in the period and a further seven planned by the end of the year.
Travelodge said: “The outcome of the current Brexit discussions and the resulting position after 31 October will clearly have an impact on market conditions in the short-term.
“The long-term potential for low-cost hotels remains clear and with our straightforward budget positioning, rising reputation for quality and strong development pipeline, we remain well positioned for the future.”
Chief executive Peter Gowers said: “It’s quite a tough market out there, but Travelodge has continued to outperform despite the challenging conditions.
“We’ve been investing in greater choice for customers while maintaining our reputation for low prices, helping us attract more and more people looking to make their travel money go further in these uncertain times.
“Against the backdrop of Brexit uncertainty and a slowing economy, there are clearly some challenging trends to deal with.
“We’re focused on what we can do, which is deliver value to our customers. We’ve been steadily investing to modernise our hotels, adding SuperRooms across the country and launching the new Travelodge Plus format to offer that little bit more choice, while maintaining low prices to stay true to our roots.
“With all the political and economic uncertainty, we naturally remain cautious about the short-term outlook.
“But in the longer-term, the fundamentals for low-cost hotels remain good, and with our clear brand proposition and strong development pipeline, we are well positioned for the future.”
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