Travelodge OpCo Group, the UK’s first budget hotel brand which operates nearly 600 hotels, today announces the completion of the property acquisition as anticipated in the announcement of the agreement on 8 January 2024.
A newly formed property holding group (Travelodge PropCo Group) completed the acquisition of 66 Travelodge-branded hotels on a freehold and long leasehold basis from Travelodge’s largest landlord, LXi REIT plc, for a purchase price of £210 million.
Travelodge PropCo Group is held separately, but alongside Travelodge OpCo Group, by a newly formed direct parent of Thame and London Limited (T&L Holdco Limited).
About Travelodge
In 1985, Travelodge became the UK’s first budget hotel brand when it opened its first hotel at Barton-under-Needwood. Today, we operate nearly 600 hotels across the UK, Ireland and Spain and annually welcome over 21 million guests.
With rooms for £35 or less, Travelodge is the ideal base for all business and leisure trips and we aim to offer customers the location, value and quality to suit all their travel needs.
We are currently looking to expand our UK hotel network and we have identified a further 300 locations where we would like to open a Travelodge hotel.
Travelodge employs over 12,000 employees and is dedicated to creating an environment where everyone can learn more, earn more and belong.
www.travelodge.co.uk
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