JR Capital is pleased to announce the successful conclusion of a rent review at Travelodge, Chertsey, resulting in a 34% increase in rent. This significant rental uplift enhances the valuation of the asset which still has 15 years remaining on the lease and will continue to be held as a long-term investment.

On the back of strong trading performance – having increased annual revenues to over £1Bn in 2013 – Travelodge has announced further expansion plans with 5 new hotels in Spain, whilst also opening its 600th hotel in UK. The group is expanding its development pipeline across the UK and currently has over 300 target locations, including 100 new sites across London. This follows Travelodge’s recent acquisition of £210m of freehold hotels from existing Travelodge landlords.

Investment in the UK hotel market has grown strongly over the last year, both on the back of increased economic confidence and further projected interest rate cuts this year. Investment volumes reached £3.8b at the end of Q3 of this year, already surpassing the 2023 volume by £1.6b. Projections by Savills indicate that year-end volumes will reach £5b, returning to levels seen in the pre-Covid period in 2019.