Travelodge Third Quarter Profits Reach £ 87million Amid Travel Boom | Item

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Travelodge announced that EBITDA profit reached £ 87million for the three-month period ending September 30, 2021, up from £ 4.1million in 2020, which was largely driven by the increase in stays .

Total revenue rose 9.9% to £ 229.5million from £ 88.2million the previous year, while RevPAR rose 11.8% to £ 53.54 sterling, compared to £ 21.24 in 2020.

The group said it plans to return to RevPAR 2019 levels during 2022, with sustained demand from “blue-collar” businesses and strong leisure demand offsetting a more gradual recovery in demand from “white-collar” businesses. .

Additionally, six additional new hotels are in the works for 2022, which is below long-term averages as new offerings were affected by Covid-19 in 2020, but returning to more normal levels thereafter.

Craig Bonner, Managing Director, said: ‘We have seen a significant increase in demand after July 19, with very high levels of domestic leisure demand across the UK this summer, good demand from’ blue collar workers’ »And we also benefited from the reduced VAT rate. .

“With our extensive hotel network spanning the length of the UK, a strong brand heritage that attracts a wide range of customers and our low cost business model, we are well positioned to benefit from the recovery ongoing and future growth. Opportunities.”

He added, “So while we continue to face short-term uncertainties, we remain confident in the long-term outlook for budget hotels. “

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