This report analyzes the importance of innovation and commercialization for Travelodge Walthamstow, a UK-based hotel chain. It explores the 4Ps of innovation, the innovation funnel, and the role of organizational vision, leadership, culture, and teamwork in driving growth. The report also delves into frugal innovation and its applications, the importance of the commercial funnel, and the process of new product development. Finally, it discusses tools for protecting intellectual property and outlines a business case for Travelodge's new mobile application.