Travelodge, the UK's first budget hotel brand, which operates more than 600 hotels across the UK, Ireland and Spain, has agreed to acquire the former Ibis Hotel in Bromley Mall in Bromley town centre, South East London.
Travelodge has agreed a 25-year lease with the building's owner and will begin refitting the 59-room hotel this month with the aim of opening the hotel for business by Easter 2025.
Steve Bennett, Chief Property and Development Officer, comments: “Travelodge is delighted to continue the expansion of our hotel network across London. We have taken out a 25 year lease to operate this new hotel in Bromley, which we are sure will be a great addition to our portfolio.
“While we already operate 82 Travelodge hotels in London, many London boroughs have very few branded budget hotels and many locations with high demand for high-quality, high-quality accommodation. Therefore, London remains a key focus for our UK development team and we are actively seeking suitable hotel opportunities across the capital, with over 100 locations on our London target requirements list.
“We are open to a variety of developments, such as office conversions, acquisitions of concerns and financed new developments, and are keen to explore all available opportunities.”
Travelodge already operates 82 hotels and more than 10,000 rooms in the London boroughs, and the chain is set to expand across the capital. Travelodge recently acquired an office building in St Paul's, subject to planning permission to convert it into a 95-room hotel, the group's first freehold acquisition for conversion, and recently exchanged contracts to open a new hotel in Upminster, London, on a town center site with a new, Begins conversion to 82-room hotel
In addition, three more Travelodge hotels are under construction in London in Beckenham, Chiswick and Stratford. The group is actively seeking further development opportunities within the M25, from office conversions and new build developments to concerns and local authority contracts.