UK's Travelodge to invest $163 million in 2014

Travelodge will open 15 new hotels this year and create 1,000 jobs as part of a $163-million investment plan. Five new hotels will open in London, where the company will have 65 hotels.

Further hotels will open in key city center locations in Glasgow, Manchester and Southampton; in new seaside destinations including Southport, Christchurch, Llandudno and Ryde on the Isle of Wight; and in the spa town of Harrogate.

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These 15 new properties will boost the Travelodge estate to 514 hotels and more than 39,000 rooms.

Travelodge is also continuing its modernization program for its existing hotels, and will renovate a further 11,800 guest bedrooms during the year at a cost of $60 million.