MONTH IN REVIEW
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REVENUE
Travelodge beats
expectations
with 6.6%
revenue jump
Travelodge has reported a 6.6%
increase in revenue to £637.1m,
outperforming the STR MSE segment
by 0.7%.
The group attributed the growth to
the launch of the a premium economy
concept, ‘SuperRooms’.
For the year-end 31 December 2017
RevPAR was also up 2.9% to £40.49
(2016: £39.37), average room rate was
up 2.8% to £53.19 and occupancy was
maintained at 76.1%.
The chain, which as of December
2017 had 558 hotels and 42,110 rooms
on offer, also saw EBITDA rise £2.3m
to £112.4m.
Peter Gowers, chief executive said:
“Our continued focus on quality and
service is delivering good results.
Rising sales from business customers,
boosted by our new SuperRooms,
helped drive strong sales growth,
with like-for-like RevPAR once again
ahead of the competitive segment.
This helped mitigate the significant
macroeconomic and external cost
pressures facing the sector and
deliver another year of progress for
the business.
“Over the last four years we
have strengthened Travelodge
considerably. We have upgraded our
estate, opened over 50 new hotels,
launched our new SuperRooms and
now have more than 170 hotels with
on-site bar cafes.”
April 2018
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ACQUISITION
EasyHotel
secures lease
for 100-room
Cambridge
property
EasyHotel, the owner, developer and
operator of ‘super budget’ branded
hotels has announced that it has
signed a 25-year lease to build a new
hotel in Cambridge.
The site is to be developed into a
new purpose-built 100-room EasyHotel,
expected to open in 2019.
Cambridge is a popular tourist
destination, famous for its university
and museums. It is also home to Silicon
Fen, one of the UK’s most dynamic
technology hubs. The Cambridge
hotel market has experienced strong
growth in recent years and suitable
development sites are in high demand.
Cambridge will be the group’s third
leased site. The hotel will be let on
a 25-year FRI (fully repairing and
insuring) lease at an annual rent of
approximately £625,000.
The hotel will be developed by MP
Merchant, in line with EasyHotel’s
specifications.
The new lease is a part of the group’s
expansion through owned and franchise
hotel development, with the group
considering leased sites on a specific
and limited basis for strategic locations
where the acquisition of freehold or
long freehold interests do not meet the
board’s strict investment criteria.
The Cambridge site takes
EasyHotel’s pipeline of
owned/leased development
projects to 1,041 rooms ,
adding one of the UK’s most
thriving and popular cities to
our network
Guy Parsons, CEO, EasyHotel
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INVESTMENT
Luxury Lodges
announces £15m
investment into
Laugharne resort
Luxury Lodges, a collection of
hotel-quality, self-catering lodges
across the UK, has announced a
£15m investment into its resort in
Laugharne, South Wales.
The resort, designed to make
the most of its location southwest
Welsh Taf estuary, will encompass an
infinity swimming pool, an outside
hydrotherapy pool, a panoramic sauna,
and an elevated restaurant and bar.
The first stage of development is
underway; with plans to unveil the £5m
clubhouse in late spring 2019.
Laugharne will join Luxury Lodges’
portfolio of self-catering resorts,
which includes Clowance and Burn
in Cornwall, Whitbarrow in the Lake
District, a UNESCO World Heritage
Centre, and Brunston in Ayrshire
Scotland.
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