Travelodge buys three hotels in administration

Hotel News - 30/04/2009

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Transfer of the leases on the hotels that are located in Derby, Sheffield Meadowhall and Tewkesbury will also mean that all of the 72 employees working at the properties will move to the budget hotel chain.

With the conversion of these hotels, the number of new property openings for Travelodge this year increases to seven. Over the past 17 months, 17 going concerns have been converted to the Travelodge brand.

Paul Harvey, the managing director of international development for Travelodge, commented: “All three of these properties are great additions to the Travelodge brand and represent over 10% of our 2009 room target. The current economic climate lends itself to very competitive property prices and we are currently adding one going concern hotel to our brand every month.”

BDO Stoy Hayward, administrators for the Real Hotel Company, the owner of the three hotels, put together the transfer deal. The business restructuring partner at BDO Soy Hayward, Shay Bannon, said: “We are still working to actively market the remaining hotels in the group for sale with a view to achieving a successful outcome.”

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