Hartnell Taylor Cook has been retained by Travelodge, following the acquisition of a new hotel development site at Abbeywood Retail Park.
Leading independent commercial property consultancy, Hartnell Taylor Cook, has today announced that it has been retained by Travelodge to find new hotel sites across the South West region. The news follows the successful acquisition of Travelodge’s hotel development at Abbey Wood Retail Park, North Bristol, which recently ‘topped out’ and is scheduled to open in 2024.
Travelodge, which operates nearly 600 hotels across the UK, Ireland and Spain, has identified that it can expand its South West hotel network with 40 more new hotels and is currently looking for new development and conversion opportunities in locations including Bath, Bristol and Gloucester. This expansion programme will create multi-million pound investment opportunities for third party investors and hundreds of new jobs. Travelodge will consider standalone and mixed-use development opportunities, as well as conversions of existing buildings and going concerns.
Commenting on the news, Andrew Batchelor, lead client contact at Hartnell Taylor Cook said: “We are delighted to have been appointed by Travelodge to support its ongoing growth. The continued partnership with Hartnell Taylor Cook over many years is testament to our expertise across the region, and we couldn’t be prouder to be adding to their successes in a thriving market.”
Tony O’Brien, UK Development Director at Travelodge, said: “We are delighted to retain Hartnell Taylor Cook to help us to deliver new Travelodge openings in the South West. This continues our long-standing and successful working relationship with them over many years. Our 7th hotel in Bristol, which Hartnell Taylor Cook helped us to acquire, is under construction at Abbey Wood Retail Park and on schedule to open in 2024. The South West is a key growth area for Travelodge, as the region is attracting record visitor numbers but there is a shortage of good quality and good value accommodation. To help fill this growing demand from business and leisure travellers, we have identified 40 locations across the region where we want to open a Travelodge hotel. This includes areas such as Bath, Exeter and Cheltenham. Our proposed expansion of 40 new Travelodge hotels will represent a multi-million pound investment opportunity for third party investors and create hundreds of new jobs.”
Hartnell Taylor Cook will work with Travelodge’s Development Manager for the South West region, Stephen Tyler, who said, “Hartnell Taylor Cook is one of the leading property agencies in the South West region and Andrew Batchelor has many years of experience in acquiring and delivering development opportunities for their clients. I am delighted that they will be helping me to deliver lots of new Travelodge openings over the next few years”.
Identifying development opportunities requires first-class research, an understanding of market dynamics across all land use sectors and an awareness of site-specific local market conditions. Whether you are buying or selling, at Hartnell Taylor Cook, we offer excellent market analysis and the advice you need to minimise your risks and maximise your returns.