| Many of today’s headlines are quite rightly | | | | the UK and are currently undertaking a major |
| concerned with the international downturn the credit | | | | commercial properties investment. The first joint hotel |
| crunch is causing. Tales of redundancies, bankruptcies, | | | | and store site will be in Newquay Cornwall and is due |
| slashed sales figures and financiers losing millions from | | | | to open in the autumn of 2009. Travelodge are |
| their real estate investments are reported on a daily | | | | planning to develop a 74 room hotel above Aldi's |
| basis. Consumer confidence is falling and Great Britain | | | | existing Newquay store. The next joint venture will be |
| is officially on its way to recession. One of the hardest | | | | undertaken in Middlesbrough and will involve the pair |
| hit sectors is the properties industry with realtors | | | | becoming involved in a commercial property deal to |
| worldwide experiencing huge downturns in profits. | | | | launch a joint store and hotel in November 2009. |
| Commercial properties simply aren't leasing or selling | | | | The Managing Director of development for |
| and personal property sales are also at an all time low. | | | | Travelodge has reported that this new venture is |
| Land is no longer worth its weight in gold and financiers | | | | enabling both companies to send out a clear message |
| are panicking and rapidly decreasing their investment | | | | to the UK that the UK budget sector is going to make |
| property portfolios. However, some industries have | | | | the most of the economic downturn. The credit crunch |
| benefited from the credit crunch. One of such | | | | means that there are more commercial properties for |
| industries is the discount food sector which has been | | | | sale and for lease available on the market than ever |
| experiencing unprecedented growth during what they | | | | before giving Travelodge and Aldi availability to |
| are calling a credit crunch boom. | | | | commercial property that wouldn't have been |
| Aldi one of the key discount food retailers has | | | | accessible to either of them before. |
| recorded a record 23.9% year on year growth for the | | | | The budget food and hotel sectors aren't the only |
| year ending November 2008 and plans to open | | | | industries benefiting from the credit crunch and several |
| between forty and fifty new stores a year across the | | | | online dating companies have seen an unprecedented |
| UK and Ireland in a massive commercial property | | | | increase in new members since the economic |
| investment. One of Aldi's key commercial objectives | | | | downturn has taken hold. New members are |
| for the following year is to join forces with discount | | | | reportedly looking for new ways of meeting people |
| hotelier Travel Lodge. Aldi and the budget hotel chain | | | | that don't involve spending money out on the town. |
| plan to develop joint hotel and store sites throughout | | | | |