NASHVILLE Eschewing the belief that nearly 600 Travelodge/Thriftlodge locations across North America provide sufficient marketing and operations mass, President/CEO Bob Foley said that the Parsippany, NJ-based company would be continuing, if not stepping up, growth.
In addition to leaning heavily on its current initiative of attracting quality franchisees to the system via a mix of economic inducements, Foley noted that the acquisition of another existing chain of properties is something Travelodge would seriously consider should the opportunity present itself.
As Foley pointed out at a media-only meeting during the course of the 2000 Travelodge/Thriftlodge Annual Conference here, the company has enjoyed annual systemwide growth in the 30% to 35% range over the past few years. Realistically, however, Foley expects that to slow to 15% to 20% over the next 18 months. (10/23/00) – Michael Billig