Travelodge in £1bn sale talk
Travelodge has revealed a surge in profits as the budget hotel chain’s owners reportedly line it up for a sale that could value the business at more than £1bn – three years after its near-collapse.
Underlying earnings for 2014 were up 63.5 per cent to £66.2m as it benefited from greater room occupancy and rates boosted by business customer usage.
Goldman Sachs, Avenue Capital and GoldenTree Asset Management took control in 2012 after Travelodge faced the threat of collapse.