Freehold of hotel in Oldham leased by Travelodge is sold

05 February 2013 by
Freehold of hotel in Oldham leased by Travelodge is sold

The 102-bedroom Travelodge hotel in Oldham is to be rebranded after its leasehold has been sold to an independent operator, Riddle Hotels.

The property was one of a group of six hotels, owned by Piccadilly Hotels and leased by Travelodge, which were put up for sale in October, alongside hotels in Edinburgh, Newcastle, Coventry, Stevenage and Bath.

The move followed Travelodge's decision to enter a Company Voluntary Arrangement (CVA), involving the shedding of 49 hotels

Martin Davis, director of Christie + Co, the property company which has marketed all hotels, said: "Given the strategic location of this particular hotel and the potential for a purchaser to explore re-branding and business development opportunities, we generated significant interest in the asset as witnessed by the number of bids that were received."

Sharon Riddle, director of Riddle Hotels, said that the company has been looking to acquire a hotel for some time. "We are delighted to have found this opportunity," she said.

"We are looking forward to working with the staff and supporting the local community by growing and developing the business over the coming weeks and months."

Travelodge to offload six hotels >>

First offer deadline for six Travelodge properties up for sale >>

Travelodge to shed 49 hotels and reduce rent on 109 more as it enters CVA >>

By Janet Harmer

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