Earnings and revenue up at Travelodge as CVA ends

1st February 2023 | Jack Oliver

Hotel chain Travelodge has reported a strong period of trading which has seen its revenue and Ebitda (earnings before interest, taxes, depreciation, and amortisation) rise above pre-Pandemic levels. The chain’s Company Voluntary Agreement (CVA) has also been implemented and completed.

For the year ending 31 December 2022, Travelodge reported revenue of £910m, an increase of a quarter from the year before and higher than the £727.9m recorded in 2019, prior to the Pandemic.

Adjusted Ebitda recorded between £210m and £215m was also higher than 2019 and 2021 levels of £129.1m and £81.1m respectively.

2023 has also continued to see strong sales for the hotel chain, with revenue in the first three weeks around 35% higher than pre-Pandemic levels: “The strong leisure and ‘blue collar’ business demand has continued in the first weeks of 2023 as customers continue to prioritise travel and seek out value in tough economic times”, Travelodge said.

“Corporate midweek demand, particularly in central London, continues to recover albeit more gradually. While forward booking patterns are very positive, they remain predominantly short lead, so we still have very limited forward visibility”.

Travelodge is also opening its first new site in Spain in ten years, with the launch of a new hotel in Madrid opening in the first half of the year.


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