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MADRID, Feb. 27, 2023 /PRNewswire/ -- Travelodge, one of the UK's largest hotel chains, today announced the expansion of its operations in Spain with the acquisition of the lease for the popular NH Villa de Coslada hotel in Madrid and the appointment of Aldaba Partners, global hotel consultants, to help it expand its hotel portfolio in the country.
This expansion program reflects the key findings of extensive research, including a study of the Spanish hotel market that Travelodge commissioned from Christie
It also indicates a significant opportunity for Travelodge to grow in Spain, as the chain has almost four decades of experience in operating budget hotels, a strong brand and a proven successful long-term leasing model. Therefore, it can offer investors and owners a long-term alternative source of income in Spain. And, at the same time, offer business and leisure travelers more choice and excellent value for money accommodation.
Currently, the Spanish hotel market is dominated by independent owners, operators, both franchised and with management agreements, and operators with shorter leases. However, our research showed that investors are increasingly looking for long-term stable sources of income in support of the growing Spanish tourism sector. This fits perfectly with Travelodge's traditional long-term fixed lease model, as used in the UK.
Travelodge has hired Aldaba Partners, a company recognized throughout the world for its comprehensive investment advisory service, to help it capitalize on this growth opportunity in Spain. Aldaba Partners will contribute to the growth of Travelodge's business in Spain by searching for suitable hotel locations and external investors. Prime locations for such growth include Barcelona, Madrid, Alicante, Bilbao, Granada, Malaga, Palma, Seville and Valencia.
Travelodge begins its expansion program in Spain with the acquisition of the lease for the NH Villa de Coslada hotel in Madrid. This is the main hotel in Coslada, with 78 rooms, a restaurant, bar and parking, and is located near the Civitas Metropolitano stadium, the IFEMA congress center and the airport, making it the ideal accommodation for business and leisure clients. leisure.
Travelodge has entered into a 20-year lease agreement with Grupo Veintidós for the operation of the hotel. The hotel chain will invest approximately one million euros in the acquisition of the lease and in the renovation of the hotel, which will be renamed Travelodge Madrid Coslada Aeropuerto, to adapt it to the new design of Travelodge "premium luxury budget hotels".
The luxury budget hotel design includes all the low-cost efficiencies you'd expect from Travelodge, but with the added bonus of neat, elegant design with homey touches throughout. The works will begin in May 2023 and the hotel will remain open during this period, with the official opening scheduled for this summer.
Travelodge already operates a successful hotel leasing model in Spain and Travelodge Madrid Coslada Aeropuerto will be the chain's sixth hotel in the country and its third in Madrid. The group also operates two hotels in Barcelona and one in Valencia. With the addition of this new hotel, Travelodge now operates almost 600 hotels in the UK, Ireland and Spain.
Ángel Beleño, general manager of Travelodge Spain, has commented:
“We are delighted to launch our expansion program in Spain with the acquisition of the lease for the NH Villa de Coslada hotel in Madrid and the appointment of Aldaba Partners to help us develop our activity throughout the country. The Spanish hotel market is growing at a rate where demand exceeds supply and we want to take this opportunity to bring the Travelodge brand to new business and leisure locations throughout Spain.
With nearly four decades of experience in operating budget hotels, a strong brand and a proven successful long-term leasing model, we are able to offer investors and owners an alternative long-term source of income in Spain. And at the same time, offer business and leisure travelers more choice and excellent value for money accommodation.”
Travelodge's operations in Spain are led by Ángel Beleño, who joined the chain in 2013 as Director of Spain Operations and was promoted to General Manager in Spain in 2014. Mr. Beleño has more than 20 years of experience in the hotel sector, both Spanish and international. Before joining Travelodge, he worked for Melia Hotels International and Barceló Hotels.
Travelodge is the UK's leading budget hotel chain, opening its first hotel in Burton under Needwood, off the A38, in 1985. Today it is the UK's second largest hotel chain, operating 596 hotels in the UK Kingdom, Ireland and Spain. For more information visit www.travelodge.co.uk or www.travelodge.es
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