Travelodge Announces Leadership Change and Revenue Growth

Budget hotel chain Travelodge - which operates more than 600 hotels across the UK, Ireland and Spain - has appointed Ray Reidy as Interim Chief Executive; replacing long-standing CEO, Jo Boydell who left the company earlier this week.

The leadership change comes after a number of serious guest safety and security issues earlier this year. Travelodge said it is now conducting a formal search for a permanent CEO.

In the meantime, Travelodge Chairman, Stephen Shurrock, has said: “We are delighted that Ray Reidy has agreed to serve as Interim CEO. He brings a strong track record of delivery and will have the full support of the Board and the wider management team as Travelodge continues to deliver its strategic priorities. Ray is an experienced CFO across different sectors and ownership structures, including RS Group plc and Mars Petcare.

"This announcement does not change anything about our focus on safety and security. On behalf of the Board, I would like to thank Jo for her dedication to Travelodge over the last 13 years.” 

Meanwhile, Travelodge has also published financial and operational results for the second quarter of the year. The company said revenue grew, year-on-year, by 4.2%, to £491.3m, while RevPAR in its UK and Ireland business was up by 0.1%.

The company said it continues to attract "a wide range of business and leisure customers" and that the third quarter of the year, to date, has shown revenue to be up by around 3%, year-on-year.

Ray Reidy, Travelodge Interim Chief Executive, said: “I’m pleased to report a solid trading performance delivered against a continually challenging market backdrop. To maintain profitability when we have had to contend with significant inflationary and regulatory cost pressures is a creditable performance and is a testament to the hard work of our teams and the strategic progress we have made. 

"We remain focused on the safety and well-being of our guests and will continue taking the actions necessary to strengthen the business. We will also continue to engage proactively and constructively with Government and the wider hospitality industry on the issue of safety and security. 

"The medium-term prospects for our market remain positive and our well-invested estate positions us well to benefit from the strong market fundamentals.”