Travelodge has reported buoyant third quarter results thanks to staycations helping to offset subdued corporate demand.
Total revenue for the quarter ended 30 September was up 9.9 per cent compared to 2019, hitting £229.5m.
Revenue per available room (RevPAR) rose 11.8 per cent to £53.54, compared to £47.89 in 2019.
The budget hotel chain saw a “significant increase in demand” when Covid rules were relaxed this summer, citing “very strong” domestic leisure demand in the warmer months and “good blue collar business demand.”
Chief executive Craig Bonner, added: “While forecasting remains a challenge, and we continue to face a range of possible outcomes, we expect to return to 2019 RevPAR levels during 2022, driven by continued leisure and ‘blue collar’ business demand offsetting a slower recovery in ‘white collar’ corporate demand.
“With our large network of hotels stretching the length and breadth of the UK, a strong brand heritage which appeals to a wide mix of customers and our low cost business model, we are well positioned to benefit from the on-going recovery and future growth opportunities. So, whilst we do continue to face uncertainty in the short-term, we remain confident in the long-term prospects for budget hotels.”