Travelodge clinches £400m sale-and-leaseback deal
Budget hotel operator Travelodge has clinched a £400m sale-and-leaseback deal it has been seeking since July that will help fund its expansion plans.
It has sold 135 of its portfolio of more than 240 hotels to Prestbury Hotels, a newly-created company owned by property entrepreneur Nick Leslau, venture capitalist West Coast Capital and Bank of Scotland Joint Ventures.
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Travelodge wants more beds |