The company says that it actively looking for a site.
Claire Good, Travelodge chief operating officer, said: “As we look to the future, the North East business and leisure economies are growing at pace especially as the region is a top staycation destination. However, as we have become a nation of value conscious travellers, with more of us choosing to stay in budget hotels than any other hotel type, there is a shortage of good quality and low cost accommodation within the region. To help fill this gap and fulfil growing demand, we are today announcing our North East hotel target expansion programme and are actively looking for hotel sites in 16 target locations. This expansion includes finding a site to open our second hotel in Chesterfield.
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"This collective expansion programme could represent an investment of £160 million for third party investors and create 400 new jobs.”
As part of the expansion plans, Travelodge is looking to add a fourth hotel in Sheffield.
The announcements were made at Travelodge’s 597th hotel opening in Hexham.