Reports: Travelodge owners mull £1bn sale

By The Newsroom
Published 13th Apr 2015, 09:23 BST
Travelodge's owners reportedly line it up for a sale that could value the business at more than £1 billion, three years after its near-collapse.Travelodge's owners reportedly line it up for a sale that could value the business at more than £1 billion, three years after its near-collapse.
Travelodge's owners reportedly line it up for a sale that could value the business at more than £1 billion, three years after its near-collapse.
The owners of UK budget hotel chain Travelodge are preparing to appoint advisers to consider strategic options, including a sale that may value the company at more than £1bn.

Citing people familiar with the matter, the Sunday Times newspaper said that owners Goldman Sachs, Avenue Capital and GoldenTree Asset Management are in talks for a possible flotation of the company, although a sale in the next nine to 12 months in seen as the most likely option.

If the owners decide to combine the portfolio of 144 Travelodges bought last year from Nick Leslau’s Prestbury Investment Holdings, the value of the hotel chain may shoot up to £1.6bn, the paper reported.

Hide Ad
Hide Ad

Avenue, Goldman and GoldenTree took control of Travelodge from Dubai International Capital in 2012, after a restructuring that reduced its debt to £329m from £635m.

Goldman Sachs, Avenue Capital and GoldenTree Asset Management could not be reached for comment outside regular business hours.

Related topics:Travelodge