Love’s Travel Stops to Spend Tons of Money
One of the most important aspects of running a thriving business is to reinvest profits back into the venture in order to increase future profit. Love’s Travel Stops is no exception to this rule, and has committed to spending well over $1 billion to expand its empire, to truckers’ benefit.
Renovation and Demolition
Love’s announced recently that it is planning to spend $1 billion over the next five years to renovate 200 different locations.
“Investing in existing locations is another way Love’s prioritizes creating a first-class experience for customers,” said Randy Swain, Love’s director of construction and remodels said in the announcement. “Being strategic with how we update existing locations – and keeping them open during the process – strengthens Love’s commitment to getting customers back on the road quickly.”
Plans for the remodeled locations, which will happen while the travel stops remain open, include:
- Open kitchens.
- More dining options.
- Bigger and better maintenance areas for trucks.
- Dog parks for drivers that bring their best friend along.
- Potentially, more parking spots for commercial vehicles to stay overnight.
Beyond remodeling, three locations each year will be closed, torn down completely, and rebuilt completely from the ground to be updated with greater amenities and a modern design.
Acquisition
Beyond renovating existing locations, Love’s is planning to add new ones by purchasing EZ GO for an undisclosed sum. The purchase will grant Love’s 22 new locations, including 11 located along turnpikes in Oklahoma and Kansas.
Conclusion
It is highly likely that Love’s is making these changes in direct response to Berkshire Hathaway purchasing Pilot J and getting its titanic foot in the door of the travel stop industry. Whatever the case, this renovation war is sure to help truckers, not only because of the finished results, but because the materials needed for construction will have to be delivered to the locations somehow!
While TopMark Funding is not affiliated with Love’s in any way, we are excited for the upcoming changes that will be finished in 2028. Anything that makes the job of a trucker easier and more exciting is something that gets our support.
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