Goodnight Hotels has been launched in partnership with Village Hotels, hoping to entice disillusioned Travelodge landlords looking to exercise their break clause.
The group said the landlords of more than 50 hotels have expressed interest and it is expected the brand will launch with at least 80 properties, with discussions also happening with landlords of other hotel brands.
The news follows the launch of AGO Hotels, spearheaded by Travelodge Owners Action Group's Viv Watts. The brand was set up to give the group's more than 400 landlords, which make up around two-thirds of the brand's estate, the option of rebranding in partnership with Accor under its budget Ibis brand.
Goodnight Hotels aims to offer landlords as close a product to what they originally had under their Travelodge lease, but which has been affected by the hotel chain's recent Company Voluntary Arrangement (CVA).
Village Hotels will provide the management and operational platform on a white label basis. Goodnight will initially operate budget hotels across the UK under FRI leases with minimal rebranding requirement, the costs of which will be provided by Goodnight. The group is also offering a new 25-year lease subject to CPI rent reviews on a five-yearly basis, as well as a base rent and share of turnover structure.
Goodnight Hotels is aiming to have leases agreed by late September with a view to commencing trading in January 2021.