Budget hotel chain exchanges contracts on three new sites

The budget hotel chain Premier Inn has exchanged contracts on three new hotel sites as it continues to push ahead with expansion plans.

Since March, the operator has completed deals for more than 20 new locations as part of its plan to achieve 55,000 hotel rooms within five years – a 50 per cent increase.

Deals were signed this week for a 50-bedroom hotel and pub/restaurant in Basingstoke, a 175-bedroom hotel in Bristol Lewins Mead and a 120-bedroom hotel in Rochester.

Mark Anderson, property director for Whitbread Hotels and Restaurants, of which Premier Inn Hotels is a subsidiary, said: "As our recent results show, Premier Inn is a growing business and we are highly acquisitive for sites.

"While other transactional activity in the commercial property market is slowing, we are adding more rooms and more hotels to our pipeline by the week."

He added that Premier Inn is "stepping on the accelerator" despite the slowdown in the wider market.

Premier Inn currently has 500 hotels across the UK, making it the country's biggest chain.

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