BTN Europe presents an overview of business travel and MICE predictions for this year
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Travelodge now attracts more business travellers than leisure helping the budget hotel chain report record growth.
In 2016, Travelodge saw total revenue jump 6.8 per cent to £597.8 million, with RevPAR up 2.5 per cent on 2015. Operating profits are up £5 million to £100 million.
“Our 2016 results mark another milestone for Travelodge,” said CEO Peter Gowers. “We continue to focus on offering great value for money and have seen record growth from business customers, who now account for more than half of our sales.”
The firm says it will open 60 hotels over the next three years, including one in central London.
Travelodge figures were helped by its £100 million modernisation programme and the launch of its business membership programme, offering small and medium-sized businesses dedicated booking tools and account management services.
Despite the positive results the company is remaining “relatively cautious” about the immediate outlook with economic uncertainty and Brexit. It’s also warning of increased cost pressures from introducing the national living wage and the increase in business rates.
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