The boss of Travelodge has said the company could see a boost from Taylor Swift and AC/DC concerts this summer after it posted record revenues for last year.
However, the budget hotel chain saw softer sales growth at the start of 2024, amid a quieter period for both business and leisure travel. Jo Boydell, chief executive of the business, said it was nonetheless “encouraged” by the rise, of around 2 per cent at the start of the year, and stressed that bookings are ahead of levels seen a year earlier.
“In the summer we also have big concerts like Taylor Swift and AC/DC that people will be booking for.” The chief executive said the company is tapping into demand from leisure and business customers “for strong value”, after increases in the cost-of-living. Nevertheless, she said Travelodge could increase prices again later this year amid cost inflation of between 5 per cent and 6 per cent. It came as the firm said it posted a statutory profit for 2023, as earnings grew by 14.
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