Travelodge Bath Waterside sold under the terms of CVA agreement
The 124-bedroom Travelodge Bath Waterside hotel has been bought by LaSalle Investment Management for £11.2m.
It is the fourth in a package of six Travelodge hotels to be sold by Christie + Co on behalf of Cordial Hotels, under the terms of the Company Voluntary Arrangement (CVA) which the budget company entered into last year.
The Bath hotel, which is the first Travelodge investment sale since the CVA, adds to the recent disposal of Travelodge hotels in Oldham, Coventry and Stevenage.
Deals for the final two of the six hotels being sold by Christie + Co - the 178-bedroom Travelodge Edinburgh West End and the 126-bedroom Travelodge Newcastle Silverlink - are expected to be announced soon.
Travelodge to shed 49 hotels and reduce rent on 109 more as it enters CVA >>
