ravelodge has reported a strong recovery from the impact of the pandemic and expects to benefit from the growing number of staycations.
The hotel chain recorded a 1.8% increase in revenue in the last quarter of 2021 compared to 2019, to £185million.
Revenue for the year was down 23% from 2019, but Travelodge said trading improved this year following the lifting of work-from-home guidelines.
The company said it expects strong demand from holidaymakers, adding that 60 of its hotels will be renovated this year.
Martin Robinson, Chairman of Travelodge, said: “The business continued to outperform the market for the seventh consecutive year and had a record summer and in line with our growth plans we opened 17 new hotels.
“Trading in 2022 so far has been extremely encouraging, despite a slow start amid Omicron restrictions in January, and we are delighted to launch our new budget luxury hotel design, which offers a look and feel more upscale while maintaining our value proposition.
“This is our most radical brand transformation to date and was created in response to the fact that Britain has become a nation of budget travellers, more of us are choosing to stay in budget hotels.
“The budget hotel segment, while not immune to the wider economic uncertainty, has proven itself and continues to recover ahead of the rest of the UK hotel market; and we believe the Our business growth opportunities have never been so exciting.
“With our large and diverse hotel network, strong brand, value proposition and focus on domestic budget travel, we are well positioned to benefit from the anticipated recovery.”