Hotel chain, Travelodge, has today announced the exchange of ten new hotels at a combined investment value of £47 million.

The expansion will also create 250 jobs.

The new hotels will be located in: Edinburgh Rose St £2.9m; Edinburgh Waterloo Place £8.0m; High Wycombe Octagon £6.5m; Ipswich £3.7m; Llanelli £2.0m; London Ealing £6.9m; Manchester Piccadilly £7.9m; Newbury £2.7m; Newcastle Under Lyme £3m and Wadebridge £3m.

Upon construction, these sites will add 857 rooms to Travelodge's existing 27,000 room portfolio. The new exchanges include new sites in Edinburgh and Manchester, building on the budget hotel company's strategy of moving into the major UK cities. Travelodge has also gained its first hotels in High Wycombe, London Ealing, Newcastle-under-Lyme and Wadebridge.

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Travelodge's Managing Director for Development, Paul Harvey said: "With 60 exchanges announced in 2009, we have now signed more hotels this year than ever before. Whilst the property market is still challenging we have been able to add some fantastic sites to our estate. With this selection of hotels, we have managed to enter new towns for the first time and also build on our strength in the major cities.

"We are now the biggest hotel brand in Edinburgh having doubled our room stock in the city in the last 24 months and now operate eight sites in Manchester."

(CD/KMcA)