Travelodge expects its annual profits, this year, to be better than 2022 after a record performance in the first half of the year.
The hotel chain noted strong leisure and business demand as revenues jumped 22%, year-on-year, and earnings surged by nearly £90m.
The company also noted a strong performance across its properties in Spain during the summer holiday season.
Travelodge said its cash and liquidity position remains strong and that it is investing “significantly” in the business. It said the budget hotel space has “proven resilience” and is benefiting from a number of positive demand drivers.
However, despite it navigating market challenges and having a strong booking outlook, Travelodge admitted that visibility remains limited.
