Whitbread has announced deals to convert two existing Travelodge properties to the Premier Inn brand.
The group has reached agreements with separate private landlords to convert the Travelodge Bury St Edmunds and Travelodge London Uxbridge. A timescale for the switching of brands has yet to be confirmed.
The Travelodge Bury St Edmunds is located to the north of the town centre, and will complement Premier Inn’s existing town centre property.
Meanwhile the Travelodge Uxbridge is located next to the town’s Underground station, and Premier Inn said it had been “actively pursuing a site in Uxbridge town centre to complement its existing 80-bedroom Premier Inn hotel on Riverside Way, west of the town centre”, which opened in February 2016.
Earlier this year Travelodge entered into a Company Voluntary Arrangement (CVA) to allow it to restructure its business while keeping hotels open.
As part of the process the group had been in negotiations with its landlords to secure a waiver of rent of up to £146 million, according to the Financial Times.
Commenting on the news Mark Anderson, managing director for property and international at Whitbread, said:
“Securing new Premier Inn hotels in Bury St Edmunds and Uxbridge is a strategic investment by Whitbread in popular markets for business and leisure travel.
“It’s part of our ongoing strategy of growing market share, through Whitbread’s strong balance sheet and financial flexibility and resilience, in locations where we are underrepresented and where we see opportunities to create long-term value for our shareholders and guests.”
