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Travelodge Hotels

A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.

Travelodge Hotels was founded in 1939 and it started franchising in 1966. Cendant Corporation's Hotel Group which is based in Parsippany, New Jersey is the world's largest lodging franchisor with 6,358 hotels having 511,610 rooms on 5 continents under the names of Super 8, Days Inn, Ramada, Travelodge, Howard Johnson, Knights Inn, Wingate Inn and AmeriHost Inn brands. Cendant's franchised hotels sell almost one out of 5 economy and mid-priced room-nights in the United States, and Cendant franchises 10.4 percent of the whole U.S. hotel room supply, as per Smith Travel Research and Cendant financial data. All hotels are independently owned and managed under franchise agreements with Cendant contributories.

Travelodge established the economy section and it was one of the first brands to initiate the idea of pet-friendly to lodge guests with pets. From that time, Travelodge has expanded its hotel properties across the country. At present, the brand has more than 520 properties in North America but well known brands are just the base for successful franchising. The primary reason for Cendant's extensively accepted success in franchising is their determined focus, thereby delivering value to their franchisees and helping their customers to maximize revenues. The costs and fees include total investment of 260000 Dollars to 320000 Dollars and their franchise fee is 60000 Dollars. The company ranked at 500 in 2006, 264 in 2005, 294 in 2004, 286 in 2003 and 435 in 2002.

Through the years, the key to their vitality has been unwavering customer focus. Their goal is to provide franchisees with the support they need to be in business for themselves, not by themselves.

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