Advertisement
Press Release Finance

Travelodge PropCo Group closes the acquisition of 66 Travelodge-branded hotels from Travelodge’s largest landlord - LXi REIT

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.

Travelodge
United Kingdom

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).

Finance Finance Europe United Kingdom
Travelodge
Other

In 1985, we reinvented the concept of the low cost overnight stay by launching the UK’s first budget hotel chain. For over 30 years, we’ve been there for our customers in the right place and at the right price enabling them to stay away from home in a comfortable room, whatever their reason for travelling – whether visiting family and friends, arriving on time for a meeting, watching their favourite band or taking the kids to the zoo.

Travelodge (UK)
Brand by Travelodge

In 1985, Travelodge opened the UK’s very first budget hotel on the A38, in Barton under Needlewood. Today the company is the country’s fastest growing and most innovative hotel chain with over 500 hotels across the UK, Ireland and Spain. Travelodge is the largest hotel brand in London, Edinburgh, Birmingham and Cambridge. Around 80% of Travelodge hotels are now located in major city centres, towns and popular holiday hotspots.