Travelodges go in £15m deal
Two former Jurys Doyle executives have snapped up eight Travelodge hotels and the master franchise agreement for the brand in Northern and Southern Ireland from parent company Travelodge UK for g22.15m (£15m).
Seamus McGowan, group general manager of operations at Jurys Doyle, and group financial controller Richard O'Sullivan, have left the Irish hotel group to set up a private company called Smorgs.
The pair plan to double the size of the Travelodge portfolio over the next five years. Travelodge Ireland currently operates a total of 520 bedrooms in Dublin, Waterford, Cork, Limerick, Galway, Belfast and Derry.
Travelodge chief executive Grant Hearn said: "This is an excellent deal for Travelodge that allows us to achieve our strategic goals to grow the brand internationally while enabling us to focus the growth of the brand across the UK."
