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Travelodge Alicante Puerto Resort – Picture Credit score Travelodge
Travelodge, a number one UK funds lodge chain with round 600 inns, introduced at this time that it’s buying six inns from Louvre Inns Group in Spain. The acquired inns, totaling 773 rooms, function underneath the Resort Campanile model. 5 of those inns are freehold properties, whereas the remaining one is a protracted leasehold.
The properties are positioned in Alicante, Barcelona, Madrid, Malaga, and Murcia and might be managed by the Spanish subsidiaries of the Travelodge OpCo Group. This transfer doubles Travelodge’s present portfolio of six inns in Spain.
Travelodge’s CEO, Jo Boydell, said that Spain is a major marketplace for the corporate, with ample potential for enlargement because of an absence of high-quality, low-cost, branded lodging. The acquisition is a part of the corporate’s Spanish growth technique, aiming to offer extra choices and worth to each enterprise and leisure vacationers.
Earlier this 12 months, the Travelodge PropCo Group, a brand new property holding group, was established to buy 66 freehold and lengthy leasehold property within the UK from T&L Holdco Restricted. T&L Holdco Restricted is the father or mother firm of Thame and London Restricted, the main firm within the Travelodge OpCo Group.
The corporate opened its first Spanish lodge in Madrid in 2004 and expanded to Barcelona quickly after. The corporate’s Spanish inns cater to enterprise and leisure friends, providing quite a lot of room sorts, meals at reasonably priced costs, and Wi-Fi. All inns are additionally pet-friendly.
