Budget hotel chain Travelodge has announced it has completed the exchange of 10 new hotels across the UK in a £47m deal, which will add a further 857 rooms to its estate.

The company, which is owned by Dubai International Capital, is set to open new properties in Ipswich, Suffolk; Llanelli, South Wales and Manchester Piccadilly, as well as Newbury and two Edinburgh sites Travelodge will also open its first hotels in High Wycombe; London Ealing; Newcastle-under-Lyme and Wadebridge, Cornwall, as part of the deal.

Paul Harvey, Travelodge's managing director for development, said: "While the property market is still challenging we have been able to add some fantastic sites to our estate. "With this selection of hotels, we have managed to enter new towns for the first time and also build on our strength in the major cities."