Hospitality industries Essay Example | Topics and Well Written Essays - 3000 words

Hospitality industries - Essay Example Since the inception of the hotel, Travelodge had undergone a drastic expansion and growth. It has opened more than 500 hotels with over 37,000 rooms and thus had gradually moved from a roadside hotel chain to become one of the fastest, largest as well as the most famous brand of budget hotels in the United Kingdom. It has been ascertained that nearly 16.5 million people stayed in Travelodge in the previous year (2012). It is worth mentioning that about 90 per cent reservations are made through the website of Travelodge, thus attracting more than 1.1 million visitors per week (Travelodge, 2013). Travelodge is the smartest choice for leisure and business travels. It consistently offers the customers with great value of hotels depending on their choice to reside. It is interesting to highlight that nearly 80 per cent of the Travelodge hotels are located in famous holiday hot spots, towns and city centres. It has a range of hotel designs comprising of budget built hotels, office conversi ons, acquirement of the present hotels, grade II listed building and co-partnerships with leading super markets, pubs and retailers among others. Travelodge was set to build further 14 hotels with 1,742 rooms at an expense of 141.5 million pounds. With respect to the UK locations, four major hotels are London including Bethnal Green, Vauxhall, Hounslow and Walthamstow. The other hotels of Travelodge which are at the door of starting by 2013 will be located at the two major cities of Spain i.e. in Madrid and Barcelona. The inaugurations of hotels in these cities will double the room stock of Travelodge to 700 in Spain (Travelodge, 2013). A key part of the investment of Travelodge largely relies on the new room brands which had been created by taking into account the comfort and preferences of the customers of Travelodge. In January 2013, Travelodge made an announcement of investing 223 million pound that would further help the company to grow and expand its business. The cash investm ent of the hotel would enhance the sustainable growth of the company and would strengthen the company’s brand offerings. This will also ensure that the customers are delivered with the best value in the market place. It has also been ascertained that by the end of 2013, Travelodge will make considerable investment on the renovation of 50 per cent of all the rooms acquired by the company. Furthermore, the company intended to incorporate the new room designs in almost 90 per cent of the estates of Travel Lodge by the end of autumn, 2014. Thus for the next 18 months more than 50 rooms on an average would be refurnished (Travelodge, 2013). As per the latest Budget Hotel Reports of 2010 a total of 54 new budget hotels were inaugurated in the year 2012 with more than 5,446 new rooms. Travelodge is the fastest growing budget hotel chain in the UK for the ended year 2012 wherein more than 3,883 rooms were added to its portfolio. Regardless the tremendous growth rate, the company is e ncountered with intense competition from its major rival Premier Inn. Correspondingly, 27 per cent market share in