In 1985, Travelodge opened the UK’s first budget (value) hotel on the A38, in Barton-under-Needwood. Today, it is the UK’s largest independent hotel chain and has hotels in all major UK cities, towns, airports and holiday locations. The company operates 543 hotels in total - across the UK (526), Ireland (12) and Spain (5) as of 9th February 2017. Travelodge is owned by GoldenTree Asset Management, Avenue Capital Group and Goldman Sachs. Travelodge is on a journey to become Britain’s favourite hotel for value. In December 2015, the company successfully completed its £100 million nationwide hotel modernisation programme - showcasing the company’s new contemporary brand look and a new improved room design. The programme was completed in just 34 months by Travelodge’s in-house, 200-strong maintenance team.