Travelodge has launched a £150m seaside investment programme which will see 55 new hotels built in coastal towns be operational by 2015.

The group, who already has property in 30 coastal locations, is following a ’55 property programme’ which will include openings in Blackpool, Weymouth, Newquay, Bournemouth and Scarborough in the next 12 months.

Grant Hearn, Travelodge CEO, said: “If ever there was a time to win back the Brits that have been tempted abroad by the budget airlines, it is now. Soaring air fares, an overpowering euro and the credit crunch is changing holiday habits this summer and maybe for good. If we can provide quality accommodation, low prices and fantastic attractions, we can turn this opportunity into a lasting tourism legacy.”

This news follows strong like-for-like growth across its coastal properties in 2007 and a sharp rise of 30% forecasted in July and August 2008.