Travelodge chief executive Peter Gowers said the investment will be made this year and provide a boost for local economies while creating more opportunities for career development in the hospitality industry.
A total of 1,458 rooms are being added to the hotel chain's portfolio. A third of those will be in five new London hotels at a cost of £40.5 million.
Other new jobs will be created at hotels in Manchester, Glasgow, Southampton, Southport, Christchurch, Llandudno and the Isle of Wight.
"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,” Gowers said.
“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."