The £95m London City Travelodge, the company's largest new build hotel to date, has opened on Middlesex Street, E1, creating 100 jobs.
The 395-room, Travelodge Plus is the company's 75th hotel in London and boosts the company's UK portfolio to 550 hotels.
Travelodge Plus is a new budget chic hotel format recently launched by the company. It is designed around the needs of the modern budget traveller who wants that little bit more style and choice. Travelodge Plus hotels offer a distinctive choice of rooms as well as a new style Bar Café with touches to make it easier to work and relax outside the room.
London City Travelodge Plus features 253 Travelodge Plus rooms - the new budget chic hotel format - that come with signature luxurious king-size Travelodge Dreamer bed, blackout curtains, USB ports
There will also be 142 SuperRooms, the group's 'premium economy' room option, featuring a power shower, in-room Lavazza coffee pod machines, irons and ironing boards, larger desks and USB power points throughout.
The hotel will offer a new Bar Café with distinctive zones designed to suit the needs of business and leisure travellers. These include counter seating with built in USB and laptop power for those working outside the room, more intimate booths & dining benches for groups, complemented by a stylish new statement bar.
Paul Harvey, Travelodge Managing Director - Property said, 'As London's first budget hotel chain, we are delighted to mark our 30th anniversary of trading in the Capital by opening our new flagship Travelodge Plus hotel in the City of London.
'This opening which is our 75th London hotel, celebrates how far the brand has grown and become symbolic in London for offering unbeatable value and making it affordable for business and leisure travellers to visit our Capital.'
'London remains a key growth area for Travelodge as there is a desperate need for more good quality and low cost hotels, especially across the boroughs. We are currently building a further four hotels in London in the following locations: Beckton, Elephant & Castle, Manor House and Peckham.
'Collectively these hotels represent an investment value of around £82 million and a job creation of 150. However, this is just the start, as we are also actively looking for a further 100 sites across London, where we can open a Travelodge hotel over the next ten years.'
Currently the budget sector accounts for 22.3% of the London hotel market which is similar to the national average (21.1%) but a much lower representation than in other major cities such as Birmingham, Edinburgh and Manchester. Also with average hotel prices currently at almost twice the level of the UK regions, customers are crying out for more good quality, low-cost places to stay throughout the Capital.
Therefore to meet growing customer demand, Travelodge is actively looking for a further 100 hotels sites across the Capital, to open an hotel - with a big focus on the Boroughs. This expansion could represent an investment of over £3bn and create 3,000 jobs.