Page last updated at 13:36 GMT, Sunday, 9 November 2008

Travelodge makes 5m price cuts

Travelodge hotel
Travelodge currently has 350 hotels across the UK

Budget hotel chain Travelodge has announced a 5m package of price cuts for the rest of 2008.

It said its average room rates in 15 UK cities would fall by an average of 10% for the rest of 2008, and is selling some rooms for next spring at 9.

Owned by Dubai International Capital, Travelodge currently has 350 hotels in the UK and 11 overseas.

The UK hotels sector is under pressure because of the downturn, and Travelodge has been buying out struggling hotels.

"We are now seeing many more hotels coming onto the market due to a more severe financial climate," managing director Guy Parsons said.

Recent PricewaterhouseCoopers figures show hotel insolvencies rose 150% between the end of 2006 and October 2008.

Travelodge currently has about 5,000 employees, and 6.5 million people spent a night at one of its hotels last year.

Print Sponsor


SEE ALSO
Travelodge to open 22 new hotels
27 Oct 08 |  Business
Travelodge invests in the seaside
21 Jul 08 |  Business
Travelodge plans Spain expansion
19 Nov 07 |  Business
Travelodge to create 10,000 jobs
21 May 07 |  Business
Dubai firm buys Travelodge hotels
18 Aug 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific