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Travelodge seeking more London buys

29 June 2004
Travelodge seeking more London buys

Budget hotel chain Travelodge is seeking more hotels in central London after its acquisition of two former Thistle properties last week.

Ben Roberts, Travelodge's development director, said: "We need to have a minimum of 3,000 rooms in the central London area as quickly as possible, which means buying at least another three existing hotels."

Travelodge has retained property agent Christie & Co to help it seek out new deals. It is looking for properties with 80-800 bedrooms.

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Thistle Islington: acquisition
Last week's acquisitions, through the same agent, involved the 375-bedroom Thistle Hotel, Islington and the 221-bedroom London Ryan Hotel, both in the King's Cross area. They were sold to an offshore investor who then leased them to Travelodge on 35-year leases. Buy this week's *Caterer* magazine for more industry news and analysis
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