Travelodge Chief Executive Steps Down
July 26, 2013 - Travelodge has revealed, that after ten years of dedicated service, Grant Hearn has decided to move on from his role as chief executive officer.
Hearn joined Travelodge in 2003 as chief executive after previously working for Hilton UK & Ireland as managing director for three years. He led the company as chief executive officer from 2003 until July 2010 when he was appointed to the position of chairman. He was asked by the Travelodge board to return as chief executive in April 2012 to oversee the Company's financial restructuring programme.
The Travelodge board has already embarked upon an external search for a new leader and Grant Hearn will remain in his role as Travelodge's chief executive through this transitional period.
Brian Wallace, chairman, Travelodge, commented on the announcement: “Grant has been an outstanding leader for Travelodge. Under his leadership, the brand has been repositioned from a roadside hotel operator to being one of the UK's leading hotel brands. Grant leaves behind an extremely capable team, one which is already working on building the next exciting growth phase for Travelodge.”
Travelodge is the UK's first budget hotel brand. It opened its first hotel in 1985 and today the Company operates 521 hotels across the UK, Ireland and Spain. This year, the Travelodge brand is benefiting from a £223 million investment to help further grow its business. This cash investment will help fuel growth, strengthen the company's brand offering and ensure consumers obtain the best value in the marketplace. As part of this expenditure, £57 million is being spent on refurbishing the Travelodge estate.
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