Budget hotel operator Travelodge has invested £7.5m on its latest opening at a grade II listed site near the Bank of England in London. The 75-room London Bank Travelodge is the first opening in the company’s £223m expansion programme for London that is set to see 26 hotels open in the capital over the next 24 months. Ten hotels are to open before the start of the 2012 Olympics, including a 188-room site near the Olympic Park in Stratford, and a 131-room site in nearby London Excel. Guy Parsons, Travelodge chief executive, said: “With the Olympic Games fast approaching, this is a once in a lifetime opportunity for us to promote British tourism and with millions of tourists expected to visit our capital city next summer, the need for budget accommodation will be at its peak. “By July 2012 we will have 54 hotels and 7,705 rooms [in London] and will remain the biggest hotelier in London.”