HVS reports in its EMEA Hospitality Newsletter that Goldman Sachs, Avenue Capital and Golden Tree Asset Management have bought 144 hotel properties across the UK that are leased to Travelodge. The price quoted is around £520 million.
The hotels were sold by Prestbury Investment Holdings, West Coast Capital, Aldersgate Investments and Lloyds Bank.
The new owners each have a one third stake in the acquisition, and also acquired Travelodge Group itself two years ago in a debt-for-equity restructuring.