It's legitimate work, of course. Hearn is the CEO of Travelodge, the owner of the hotel he is inspecting, and the bed on which he is reclining is the cornerstone of the budget chain's strategy to wake up to a new dawn as "the UK's leading value chain". Pocket-sprung and quilted-topped, the king-size bed is so business-critical to Travelodge that it has been trademarked – as the Travelodge Dreamer – and would usually, says Hearn, retail for £1,300. "But we can have it for considerably less than that," he says. "When you are buying 38,000 beds, it is easier to get a good deal." Travelodge could do with a bargain. Last September, the group announced a controversial rescue deal to save the business – trading well but with crippling debts – from administration, through a Company Voluntary Agreement with its landlords to cut rent. The previous month, Goldman Sachs and two New York hedge funds – GoldenTree Asset Management and Avenue Capital Group – took control of the company from Dubai International Capital through a debt-for-equity swap.
As part of the subsequent financial restructuring – which Travelodge says will "secure the long-term future of the business" – total bank debt was reduced from £635m to £329m and £75m of new funds injected to update some older properties. So there's a lot riding on this Covent Garden bed – "the hero of the room", says Hearn. It is part of the new look designed by Travelodge customers, who said they wanted an "inviting, functional, warm, relaxing environment", with "an extremely comfortable bed". Early feedback is positive. When the interior redesign – to be extended to every Travelodge hotel – was unveiled at the management conference at the Birmingham NEC at the end of January, there was "spontaneous applause and cheering", says Hearn. The two-year, £57m refurbishment programme, which will be 50pc complete by the end of 2013, started on March 4. Today's news is the final piece of the refinancing jigsaw – the fate of the 49 hotels earmarked for disposal. Last December, reports surfaced of staff alarm that only two hotels had found new operators.
At the time, Travelodge said it was confident that new operators would be found for all its hotels by mid-March. But, as of today, there are still 11 whose future is "to be confirmed". "We have agreed with the landlords to continue running these hotels for a period of time – certainly throughout the summer," says Hearn. Of the remaining 38 hotels, 18 have transferred to new operators – including Best Western, Ibis and Metro Inns – with 20 to be run as franchises, of which seven will go to the motorway services provider Moto. Hearn "doesn't imagine" there will be job losses. "That is for the new owners to decide," he says. Hearn has come a long way since he started, aged 15, washing dishes in the Old Windsor branch of Little Chef. But Travelodge still remains the Asda of the budget hotel world to Premier Inn's Sainsbury's, says Hearn – and he wants to close that gap. "We are trying to create a product that is competitive with [Premier Inn] but at a better price. I want to be perceived as the best value hotel in the country.
At the moment, we are perceived as the cheapest." That's not necessarily a bad thing. Over the recession, the chain has added to its fan-base of Hollyoaks stars and rock bands on the make by appealing to businesses looking to cut travel expenses. The BBC's Salford office is one, while the Houses of Parliament put Travelodge on its preferred suppliers list last autumn, after the Cabinet Office demanded fewer five-star hotel bookings. "The Government is our leading corporate customer," says Hearn. Only a matter of time, then, before Chancellor George Osborne checks in for a £39 per night stay at Whitehall's nearest Travelodge in Waterloo to prove his man-of-the-people credentials. There'll be a pocket-sprung, quilted-topped bed waiting for him.Travelodge Dreamer™ mattress by Sleepeezee Need this mattress delivered within 7 working days? We have selected sizes available for fast delivery - CLICK HERE to order now. The Travelodge Dreamer™ mattress boasts over 950 individual pocket springs within each mattress*.
Now you can enjoy this continued luxury sleeping experience in the comfort of your own home, safe in the knowledge that comparable products would have a recommended retail selling price in excess of £1,000**.*Based on the King Size model.**Based on King Size Two Drawer Set. Features:Over 950 pocketed springs in a 5’0” mattress, produced with 30% high-quality recycled steel.Durable and supportive hypo-allergenic fillings.Soft-touch woven damask fabric for a comfortable sleep surface.Chrome finished vents to allow good air circulation.Flag-stitched handles to ease mattress positioning.Mattress ideally suited for use on bedsteads or platform-top divan bases.Mattress depth/thickness: 24cm (9.5").Available in the following sizes: Mattress SizePrice 3’0” (90cm) £289 4’6” (137cm) £399 5’0” (152cm) £449 6’0” (182cm) £549 Single 3ft (90x190cm) | Double 4'6ft (137x190cm) | King 5ft (152x198cm) | Available as Mattress only Over 950 pocketed springs in the 5’0” mattress size.
Made with 30% high-quality recycled steel.Chrome finished vents | Please login or register to review Travelodge Dreamer™ mattress by Sleepeezee Product Code: Travelodge Dreamer Mattress --- Please Select --- 4’6” (137cm) Double (+£110.00) 5’0” (152cm) King (+£160.00) 6’0” (182cm) Superking (+£260.00) Recycle my old mattress (+£25.00) 0 reviews / Write a reviewTravelodge Dreamer™ bed by SleepeezeeDivan base available in blue or beige.Mattress depth: 24cm (9.5").Available in the following sizes and storage drawer options: Divan base in Blue or Beige Non-storage Two drawer Four drawer Mattress only 3’0” (90cm) £399 £449 N/A £289 4’6” (137cm) £549 £599 £649 £399 5’0” (152cm) £599 £649 £699 £449 6’0” (182cm) £749 N/A £849 £549 Blue / Beige (Colour option for the divan base only). Available as Mattress only / Mattress & divan set | Divan storage options: No drawer / 2 Drawer / 4 Drawer.