It hasn’t been an easy 2 years for those who are in the tourism industry as giants in the industry have been felled by a disease that is making people not leave their houses much less go on holiday.
Travelodge is a familiar name across Europe as it is an affordable holiday stay for anyone on a budget but they too have faced massive revenue losses in the last 2 years. The Statutory loss before tax increased to £307m, compared to a loss of £72.5m in 2019, according to the annual report for Thame and London, Travelodge’s parent company, lodged at Companies House.
After starting the year strongly, the budget brand was forced to close the doors on 24 March 2020 to guests of most of its hotels, apart from 50 that remained open for NHS workers, key workers and vulnerable groups, before opening again on 15 July. Further lockdowns later in the year across different parts of the UK added to the colossal fall in revenue for the group.
Overall revenue per available room (revpar) for the year was down…
