The budget hotel chain Travelodge is planning an aggressive £200m programme of acquisitions under which it will target three and four-star hotels that are in danger of going bust as the credit crunch hits home on the hospitality industry. The company has signed deals for city centre sites in Edinburgh, Coventry and Bath. Chief executive Grant Hearn wants to add 20 seaside and regional urban hotels to the portfolio during the next 18 months. Travelodge already sells six million room nights every year. Hearn believes that Travelodge’s success lies in keeping things simple. Hoteliers, he claims, have been too fussy in the past with their facilities, offering guests things they did not really need. The Mail on Sunday 11/05/08 pages 58 & 63 (Financial)