Travelodge Development Website

Development Programme - Spain

www.travelodgehoteles.es

View this document in Spanish by clicking on this link.

Travelodge has commenced an ambitious international development programme with a €1 billion investment plan for Spain which will take the company to 100 hotels by 2020.

Horacio Alcala, International Development Director, heads up the Development function in Spain and joined Travelodge in October 2007.

We are searching for parcels of land and buildings for the first development phase, from 2008 to 2010, as follows:

Phase I

Duration	2008 - twelve months
Cities:	Madrid, Barcelona and Valencia
Type of Location:	Central, second line off pitch, and suburban within the main city (consolidated areas).
Size of Hotel:	60 to 150 bedrooms
Built area:	from 1,700 to 4,500 m2 (from 2,500 to 7,000 m2 if rehabilitation).

Phase II

Duration	2008 - twelve months
Cities:	As per Phase I + Sevilla, Malaga in the frist half of the year, with Zaragoza, Murcia and Bilbao for the second
Type of Location:	Central, second line off pitch, and suburban within the main city (consolidated areas) for Phase II cities, and extending towards suburban periphery (including airports) and main access roads for Phase I cities. Phase I continues.
Size of Hotel:	60 to 120 bedrooms
Built area:	from 1,700 to 3,500 m2 (from 2,500 to 5,000 m2 if rehabilitation)

Phase III

Duration	From 2010 onwards
Cities:	As per Phase II + Palma, Alicante, Granada, Oviedo, Vigo, Gerona and other cities to be defined. Exceptional locations in other cities will be analysed
Type of Location:	Central, second line off pitch, and suburban within the main city (consolidated areas) for Phase III cities, and extending towards suburban periphery (including airports) and main access roads for Phase II cities. Phase I and II continue
Size of Hotel:	60 to 120 bedrooms
Built area:	from 1,700 to 3,500 m2 (from 2,500 to 5,000 m2 if rehabilitation).

Other Important facts:

The priority is for the development of new build hotels as it is essential to optimise the construction
the average for new hotels is of 27 m2 pe room gross (20% family rooms, 80% standard shower rooms)
A Travelodge is not build to a star rating standard, but keeping the standards of the brand. The room equivalent would be that of three star standard
A limited number of parking spaces is needed depending on the availability of public transport, specifically underground
Travelodge is just leasing hotels, hence it need for a Developer / Investor to take on the turnkey construction of the asset (including FF&E)
Where there is no investor available, Travelodge works with a selection of Developers who will purchase the land and develop a hotel
Travelodge provides a long term lease agreement with a fixed rent revised to RPI
The Travelodge model is flexible in terms of sharing a building with other tenants such as F&B or gyms (see photos below)

Photo 1.
Travelodge sharing the ground floor with other tenants: F&B

Photo 2.
Travelodge sharing the ground and first floor levels with another tenant: Gym

Photo 3.
Travelodge City Road, London - 392 bedrooms. A conversion of the old Singer sewing machine factory in the City of London.