Travelodge plans to open 100 hotels after 8.8% increase in revenue
Travelodge has revealed plans to open 100 hotels in the coming five years, reports The Caterer. These intentions were announced alongside the publication of an 8.8% revenue growth for 2018. Whilst revenue reached £693.3m, RevPAR also increased by 3.2% to £41.69 and occupancy was reported at 78.5%. EBITDA increased by £9.6m to £122m. Travelodge opened 17 hotels in 2018, bringing its total estate to 575 hotels.
MOD Pizza to open 10th UK restaurant in Coventry
MOD Pizza, a US pizza brand, is opening its 10th UK restaurant. The new site in Coventry will open later this month and join a UK portfolio across London, Watford, Romford, Leicester, Leeds, Nottingham, Gateshead and Borehamwood. Big Hospitality reports that MOD Pizza have 390 restaurants across the US and Leeds marked their first UK site in 2016.
Fuller's opens latest managed site, The Hercules
Fuller, Smith and Turner Plc has opened a new managed site, The Hercules situated in Lambeth. Pub and Bar Magazine reports that The Hercules opened as a pub nearly 200 years ago, and now under the management of London brewer and pub company, Fuller's, the pub's décor will take inspiration from Asterly's Amphitheatre, a former nearby performance venue opened by Philip Asterly, the father of modern circus.
Four central London Grange Hotels sold to Queensgate Investments
Four Grange Hotels have been sold to Queensgate Investments in an almost £1b deal, reports Boutique Hotelier. The four hotels include Grange City (307 bedrooms), Grange Holborn (201 bedrooms), Grange St Paul's (460 bedrooms) and Grange Tower Bridge (370 bedrooms). The hotels will be rebranded as Leonardo Hotels and Jury's Inn and operated by Fattal's European arm.
McMullen starts work on new-build hotel and pub restaurant
Hertfordshire-based brewer and retailer McMullen has started work on a new-build 144-bedroom hotel and pub restaurant, reports Propel. Situated in Cambourne, Cambridgeshire, the venue, named the Princess Elizabeth, is anticipated to open in February 2020. The buildings have been designed by ICA Architects and plans put forward by SBH Cambourne.
Michelin-starred chef-restaurateur, Glynn Purnell, has announced plans via The Caterer to open a third restaurant in Coventry's Charterhouse, a 14th century Grade I listed monastery. Owned by Historic Coventry Trust, the property will undergo an £8m restoration project in June, with £4.3m funded by National Lottery. The fine dining restaurant will be joined by another unnamed eatery as well as a 150-cover conference and wedding venue.