• Traveloge heads for City as IPO looms

Travelodge, the second biggest budget hotel brand in the UK, is continuing to open city centre properties as rumours grow of a listing sometime this year.

The company last week opened its 13th property in London, a 168-room former Express at Wembley.

Last year, Travelodge added 500 rooms to its London room count taking the total past 2,000. The latest property is owned by Quintain Estates and has been taken by Travelodge on a 25-year lease.

Next year Travelodge is to open a 394-room hotel in the City of London in the former headquarters of Singer, the sewing machine company.

A float of Travelodge is likely to see it valued at more than £1.1bn. Whitbread is a potential purchaser but competition authorities might block the formation of this £3bn budget hotel giant.

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