Travelodge retains virtually all hotels following landlord dispute

Travelodge has retained a network of 578 hotels following an acrimonious company voluntary arrangement deal with owners.

The brand said the remaining hotels accounted for more than 98 per of its 2019 UK hotel EBITDA.

Steve Bennett, Travelodge property director, said: “While the Covid-19 situation has created unprecedented challenges for the whole UK hospitality industry, we have worked closely with our landlords to try to find the best possible path forward. 

“With the overwhelming support and commitment of so many landlords across the country, we now have a strong, diversified and well invested network that leaves us well positioned for the recovery.

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“The group would like to thank its landlords for their overwhelming support and will continue to work closely with all its stakeholders over the months ahead.”

The voluntary arrangement included a break clause allowing landlords to terminate leases and re-let the hotels without penalty with an initial deadline of November 18th.

With the deadline now passed, fears an exodus of hundreds of landlords have proved unfounded.

AGO Hotels secured nine Travelodge leases and Premier Inn owner Whitbread took up two further properties.

The low-cost brand had a portfolio of 590 hotels in the UK, Spain and Ireland at the start of the year.

This network now constitutes 563 hotels in the mainland UK, ten properties in Ireland and Northern Ireland and five hotels in Spain. 

It also includes nine new hotels opened in the year to date.

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