Full-year profit up at Travelodge thanks to price cuts
Budget hotel chain Travelodge has received a huge boost to its full-year profit thanks to the success of its online booking service and price cuts.
Turnover at the group increased 19% year-on-year after price cuts led to an increase of almost a quarter (24%) in the number of rooms sold.
Reflecting the growing popularity of online bookings, the company's web reservations grew a whopping 92% against last year's.
This means that nearly eight out of every 10 room bookings (79%) at the business are now made through the internet.
Grant Hearn, chief executive of Travelodge, said: "Our aggressive price cutting and web strategy is beginning to change the way customers use our hotels. Our competitors have not risen to our challenge on price but are drifting ever closer to a three-star offer."
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By Alix Young
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