The Mayor of London, Boris Johnson, officially opened Travelodge's 400th hotel at Waterloo and also joined in the party with contractor Sisk, to celebrate the hotel chain's 25th anniversary.

John Sisk & Son Ltd (Sisk), one of the largest construction groups in the UK and Ireland, carried out the construction part of the project to the 279-room hotel. The building is part grade II listed and a new build has cost £21.1million in total to convert into a Travelodge hotel.

Mike Higgins, Director Southern, Sisk commented: "Building and renovating hotels is one of our key areas of excellence at Sisk, and it is great to continue our working relationship with Travelodge who has continued to grow as a leading hotel brand in the UK over the past 25 years. This is obviously a landmark project for Travelodge in so many ways and we have naturally given our customary care and attention to see it completed to time and budget."

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The new hotel opening has created 60 new jobs, with half of the positions being filled via the London Employer Accord programme, which helps the long term unemployed back into work.

Sisk has completed numerous projects for Travelodge as a preferred contractor over the past two years, including the flagship City Road hotel in the grade II listed former ‘Singer’ headquarters.

Guy Parsons, Chief Executive of Travelodge, said: "London Waterloo is the perfect example of the modern and vibrant company Travelodge has evolved into over the last 25 years. Located in a prominent location it offers the perfect low-cost base for both leisure and business customers.

"With the Olympics getting ever nearer and given the prominent role tourism plays in the growth of the London economy, we have also invested heavily to ensure that Travelodge is the biggest hotel brand in the Capital in time for the 2012 games."

Mr Johnson said: "Tourism is a vital industry in the Capital, supporting more than 250,000 jobs. I am delighted that Travelodge has chosen to open its 400th hotel in London, showing its confidence in the Capital’s exceptional cultural, business and tourism offering.

"The 2012 Games will provide brilliant opportunities for London businesses, bringing additional tourists, officials and athletes to our city. Affordable hotel rooms will be at a premium and Travelodge will have a key role to play in the Capital’s welcome and experience for our many visitors. That is why I am equally delighted to hear that Travelodge aims to be the biggest hotel provider by the 2012 Olympics."

Recent Travelodge hotels completed by Sisk include:

• Travelodge Heathrow T5 – 297 rooms
• Travelodge London City Road – 392 rooms
• Travelodge Croydon – 147 rooms
• Travelodge Windsor – 113 rooms