Travelodge buys NH Villa de Coslada hotel in Madrid, plans to expand

Travelodge has acquired the 78-room NH Villa de Coslada hotel in Madrid and hired hospitality advisors Aldaba Partners to as part of its plan to grow its Spanish hotel portfolio.

The hotel chain currently operates two hotels in Madrid, two in Barcelona and one in Valencia.

Travelodge has acquired a 20-year lease to operate the hotel from Grupo Veintidos and the hotel will be renamed Travelodge Madrid Coslada Aeropuerto. The group will invest €1 million in acquiring the lease and refurbishing its new acquisition, with the refurbishment scheduled to begin and May 2023 and the official opening set for summer.

The hotel chain says its plans to expand stems from research which shows a gap for branded, low cost and good quality accommodation in the midscale and economy segment as well as an increase in the number of investors looking for stable long term income streams, which it can provide with its long-term fixed lease model.

As part of Travelodge’s plan to expand in Spain, it has hired Aldaba Partners to find suitable hotel sites and third partner investors in locations such as Barcelona, Madrid, Alicante, Bilbao, Granada, Malaga, Palma, Seville and Valencia.

What they said

Steve Bennett, Travelodge’s chief property & development officer said: “We are delighted to launch our Spanish expansion programme by acquiring the lease of the NH Villa de Coslada hotel in Madrid and appointing Aldaba Partners to help us grow our business across Spain.

The Spanish hotel market is growing at pace with demand exceeding supply and we want to take this opportunity to take the Travelodge brand to new business and leisure locations across Spain.”