Aylesbury’s new Travelodge will generate more than £1 million a year into the local economy, according to the hotel giant.
The 148-room hotel, which will create 20 new jobs, will open in Exchange Street in August, alongside Waitrose which it will share the building with.
And Travelodge has now calculated that its guests could spend up to £1.2million in the local economy during the first year of operation.
Its new Aylesbury hotel will also be used to showcase Travelodge’s new room design as part of a £223 million investment in new and current hotels.
Grant Hearn, chief executive officer for Travelodge, which is based in nearby Thame, said: “This capital expenditure will help us to grow our business in locations such as Aylesbury, strengthen our product offering and make Travelodge the best value hotel chain in the UK.
“As part of this year’s investment we have worked with our customers to create a new Travelodge room which offers more comfort, quality and style.
He said that in the UK branded budget accomodation currently makes up less than 20% of the market, ‘still well behind matured markets such as the USA and France’.
“In response to this growing opportunity, our growth strategy remains in the forefront of our new business plan.”