Travelodge and Aldi plan joint developments
Travelodge and supermarket budget chain Aldi have joined forces to capitalise on development opportunities created by the credit crunch.
The companies plan to open joint sites in Newquay and Middlesbrough by the end of 2009. Travelodge has invested £4.9m in the developments.
The 55-room Middlesbrough Travelodge will open at the end of November 2008, alongside a a 16,700sq ft Aldi. Followed by the Newquay site in Autumn 2009, which will include a 74-bed hotel and a 14,500sq ft Aldi store.
Paul Harvey, managing director for Development at Travelodge, said: "The credit crunch is freeing up sites for development that previously would not have been viable for either of us.
"With the budget sector of the hotel industry set to grow to 30 per cent of the market, and Aldi aiming to develop 1,500 stores over the next five years, these are exciting times for companies that are committed to driving down costs for customers."
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