After its near-collapse three years ago, the UK’s budget hotel Travelodge has reported an increase in profits of more than 60%.
Figures show that for the year to 31 December 2014 underlying profits increased to 63.5% to £66.2 million and revenue increased 14.9% to £497.2 million.
Peter Gowers, chief executive of Travelodge said "There's probably never been a better time to run a value hotel business than now because the value hotel sector is huge. Britain is becoming a nation of value shoppers."
He added Travelodge's current owners were "not natural long-term holders of the business", fuelling rumours that it is preparing for a sale of the business in the near future with the £100 million modernisation near completion, and five out of a planned 15 new hotels already opened.
