Travelodge to build 35 hotels

Travelodge is to invest £300m this year building 35 hotels, which will create 700 UK jobs this year. The openings will take the group's estate to 495 hotels.

Guy Parsons, the chief executive of the budget hotels group, said: "The hotels we will build this year have been a result of our commitment to expand during the recession while many companies put their development on hold.

"Last year we exchanged on 96 sites, making it a record year, and 52 of these exchanges were part of the biggest transaction in the hotel sector since 2008, with the pub chain Mitchells & Butlers."