Budget hotel chain Travelodge has unveiled a nine-location Southwark hit list as part of its London expansion plans.
The chain said it was looking to bolster its current 59 hotels in the capital with a further 145 venues, in a long-term move that would create 4,000 new jobs and boost local economies by a combined £290 million a year.
Identified on its Southwark hit-list are potential new hotels in Bermondsey, Borough, Camberwell/Denmark Hill, Canada Water, Dulwich, Elephant & Castle, London Bridge, Old Kent Road and Peckham Rye.
Chief executive Grant Hearn said he believed that the London hotel market was the strongest in the world and that the firm’s target location list reflected its growth potential.
“There is a clear need for good-quality budget hotel rooms in central London, as many of the existing B&Bs and hostels offer inadequate accommodation, poor value and extortionate prices," he said.
“Our research has highlighted that London ’s suburbs are the capital’s hot spots for potential growth. Many London boroughs have large employment clusters and impressive regeneration proposals, yet have an undersupply of hotel rooms."
Travelodge said that in addition to a recent opening in Bethnal Green, in 2013 alone it would be launching new hotels in Hounslow, Vauxhall and Walthamstow as part of a £34 million investment programme that would create 80 new jobs across the capital.
Southwark Council has given the go-ahead for the compulsory purchase of Elephant and Castle shopping centre which is due to be redeveloped…