TRAVELODGE has opened a new hotel in Madrid and plans to expand across Spain.
The British chain has signed a 20-year contract and invested a million euros in renovating a new airport hotel in the capital.
Travelodge Madrid Coslada Aeropuerto is nearby the Civitas stadium and Adolfo Suárez-Madrid Barajas Airport.
It will have 78 rooms, a restaurant, bar and parking.
Travelodge already has two other hotels in the capital, alongside others in Barcelona and Valencia.
It hopes to expand to seven further tourist destinations including Alicante, Bilbao, Cádiz, Málaga, Palma Mallorca, San Sebastián y Sevilla.
After these key locations, it may also open hotels in Benidorm, Córdoba, Gerona, Granada, Las Palmas de Gran Canaria, Santiago de Compostela, Santander, Tarragona, Valladolid y Zaragoza.
Based on a study by Christie & Co, Travelodge has set out a strategic growth plan.
The results showed that budget hotels only represent 33% of rooms available in Spain, compared to almost 60% in the UK.
In the next five years, the report predicted the sector could grow by up to 15,000 rooms with new developments and hotels.
According to Angel Beleño, general manager for Travelodge Spain: “Spain is the fourth most visited country in the world and its tourism sector is now a major driver of the economy.
“This is creating new opportunities in the Spanish hotel market, especially for the mid-scale and economy segment, and we want to take advantage of this opportunity to bring the Travelodge brand to new business and leisure locations across Spain.”