According to Travelodge, the plan is to expand beyond its traditional roadside hotels and to increase the network to 514 hotels and more than 39,000 rooms.
With the developmentof five new hotels will open in London, Travelodge will become the largest hotel chain in the capital with 65 hotels overall.
The rest of new hotels will open in Glasgow, Manchester and Southampton.
Travelodge is also aiming for new seaside destinations including Southport, Christchurch, Llandudno and Ryde on the Isle of Wight and in the spa town of Harrogate.
Apart from the new hotels scheme, the firm has an on-going modernisation programme of its existing hotels, and is planning to renovate a further 11,800 guest bedrooms during the year at a cost of £37m.
The new openings and on-going improvements are estimated to generate 1,000 new jobs across a range of disciplines, including hotel management roles and reception, restaurant, customer service and cleaning teams.
Peter Gowers, Travelodge Chief Executive, said:”2014 marks the next stage on our journey to build a new Travelodge that is Britain’s favourite hotel for value.
“During the last year we modernised more than 200 of our hotels across the country and we are on schedule to transform the majority of our portfolio by this autumn.
“With this further investment in new hotels, we’re delighted to be expanding into great new locations where our customers want to go, for both business and leisure.”
As result of our ongoing trading and expansion we’ll be recruiting 1,000 people this year, offering a further boost for local economies and creating more opportunities for career development in the growing hospitality industry.”