Travelodge to offload six hotels

08 October 2012 by
Travelodge to offload six hotels

Six Travelodge hotels have been put up for sale following the firm's decision to enter a Company Voluntary Arrangement (CVA), which involves offloading 49 hotels it considers no longer viable.

The properties, which include prime locations in Bath and Edinburgh, are owned by Piccadilly Hotels and leased to Travelodge.

Christie & Co is marketing the hotels on an individual basis with a view to selling with vacant possession.

Jeremy Jones, director of corporate hotels for Christie & Co, said: "Given the strategic location of these Travelodge hotels and the potential for new operators to explore rebranding them in both budget and mid-market segments, we expect a great deal of competitive interest."

The six hotels are:

Travelodge Edinburgh West End: 178 bedrooms
Travelodge Newcastle Silverlink: 126 bedrooms
Travelodge Oldham Manchester Street: 102 bedrooms
Travelodge Leofric, Coventry: 120 bedrooms
Travelodge Stevenage, Little Wymondley: 69 bedrooms
Travelodge Bath Waterside: 124 bedrooms

The properties have a combined value of around £30m.

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

Travelodge to rejoin BHA >>

By Janet Harmer

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