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1. • • LXi Real Estate Investment Trust (REIT) has completed the sale of 66 Travelodge-branded hotels to the Travelodge group for £210m. LXi said the majority of the sale proceeds will be used to pay down debt, reducing loan-to-value (LTV) from 38% to 34% and reducing Travelodge’s proportion of group rent from 18% to 11%.
     news.completelyretail.co.uk/lxi-completes-210m-sale-of-66-travelodge-hotels/

     LXi completes £210m sale of 66 Travelodge hotels

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   Why did Travelodge acquire 66 hotels from LXI REIT?

   • “The acquisition of 66 Travelodge hotels from LXi REIT, with support from our owner GoldenTree Asset Management, will mark a positive step for Travelodge as we seek to optimise our hotel portfolio and diversify our freehold/leasehold split to enhance value. The new structure will provide us with a platform to explore further freehold acquisitions.

   Travelodge agrees to acquire 66 Travelodge-branded hotels from its

   www.travelodge.co.uk/our-business/blog/press_release/travelodge-agrees-to-acquire-66-travelodge-branded-hotels-from-its-largest-landlord-lxi-reit-for-210-million-with-support-from-travelodges-owner-goldentree-asset-management/

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   Who owns Travelodge Hotels?

   • 8 January 2024 – Travelodge, the UK’s first budget hotel brand which operates nearly 600 hotels, today announces that it has exchanged contracts to acquire 66 Travelodge-branded hotels on a freehold and long leasehold basis from its largest landlord, LXi REIT plc (“LXi”), for a combined sum of £210 million.

   Travelodge agrees to acquire 66 Travelodge-branded hotels from its

   www.travelodge.co.uk/our-business/blog/press_release/travelodge-agrees-to-acquire-66-travelodge-branded-hotels-from-its-largest-landlord-lxi-reit-for-210-million-with-support-from-travelodges-owner-goldentree-asset-management/

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   Will Travelodge acquire 66 hotels?

   • The 66 hotels will be acquired on a freehold and long leasehold basis enabling the Travelodge group to take control of the assets, enhancing value.

   Travelodge agrees to acquire 66 Travelodge-branded hotels from its

   www.travelodge.co.uk/our-business/blog/press_release/travelodge-agrees-to-acquire-66-travelodge-branded-hotels-from-its-largest-landlord-lxi-reit-for-210-million-with-support-from-travelodges-owner-goldentree-asset-management/

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   Does Travelodge still work with LXI?

   • Travelodge looks forward to continuing to work with LXi, with whom it has enjoyed a strong working relationship over many years, and who remain its largest landlord. The Travelodge group plans to explore further freehold opportunities, which would further diversify Travelodge’s freehold/leasehold asset base.

   Travelodge agrees to acquire 66 Travelodge-branded hotels from its

   www.travelodge.co.uk/our-business/blog/press_release/travelodge-agrees-to-acquire-66-travelodge-branded-hotels-from-its-largest-landlord-lxi-reit-for-210-million-with-support-from-travelodges-owner-goldentree-asset-management/

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   When did Travelodge start?

   • In 1985, Travelodge became the UK’s first budget hotel brand when it opened its first hotel at Barton-under-Needwood. Today, we operate nearly 600 hotels across the UK, Ireland and Spain and annually welcome over 21 million guests.

   Travelodge agrees to acquire 66 Travelodge-branded hotels from its

   www.travelodge.co.uk/our-business/blog/press_release/travelodge-agrees-to-acquire-66-travelodge-branded-hotels-from-its-largest-landlord-lxi-reit-for-210-million-with-support-from-travelodges-owner-goldentree-asset-management/

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   How did Travelodge perform in Q3 2023?

   • The transaction comes after Travelodge reported record-breaking Q3 financial results in November 2023, with double-digit revenue growth of 16.7% to £782 million and underlying earnings (adjusted EBITDA) up 22.4% to £201.2 million.

   Travelodge agrees to acquire 66 Travelodge-branded hotels from its

   www.travelodge.co.uk/our-business/blog/press_release/travelodge-agrees-to-acquire-66-travelodge-branded-hotels-from-its-largest-landlord-lxi-reit-for-210-million-with-support-from-travelodges-owner-goldentree-asset-management/

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3. www.travelodge.co.uk › our-business › blogTravelodge agrees to acquire 66 Travelodge-branded hotels ...

   www.travelodge.co.uk › our-business › blog

   • Cached

   8 January 2024 – Travelodge, the UK’s first budget hotel brand which operates nearly 600 hotels, today announces that it has exchanged contracts to acquire 66 Travelodge-branded hotels on a freehold and long leasehold basis from its largest landlord, LXi REIT plc (“LXi”), for a combined sum of £210 million.

   • Travelodge PropCo Group closes the acquisition of 66 ...

     A newly formed property holding group (Travelodge PropCo...

4. www.travelodge.co.uk › our-business › blogTravelodge PropCo Group closes the acquisition of 66 ...

   www.travelodge.co.uk › our-business › blog

   • Cached

   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.

5. www.hospitalityinvestor.com › investmentTravelodge to buy 66 of its branded hotels from LXi REIT for ...

   www.hospitalityinvestor.com › investment

   Jan 10, 2024 · Travelodge has exchanged contracts to acquire 66 Travelodge-branded hotels from its largest landlord, LXi REIT for a total of £210 million. The budget hotel company said the purchase will be funded through a combination of a further shareholder investment from owner GoldenTree Asset Management, the proceeds of a third party financing facility ...

6. www.costar.com › article › 408445863Travelodge Buys 66 of Its Hotels From Landlord LXi REIT

   www.costar.com › article › 408445863

   • Cached

   Jan 8, 2024 · Travelodge, the UK budget hotel brand that operates nearly 600 hotels, has exchanged contracts to buy 66 branded hotels on a freehold and long leasehold basis from its largest landlord,...

   • Author: Paul Norman

7. www.theaic.co.uk › aic › newsLXI sells 66 Travelodge hotels ahead of possible LondonMetric ...

   www.theaic.co.uk › aic › news

   • Cached

   Jan 9, 2024 · Long-lease commercial property fund LXI Reit (LXI ) has sold 66 Travelodge hotels for £210m as it tidies up its portfolio ahead of a possible merger with LondonMetric Property (LMP).

8. europe-re.com › lxi-reit-plc-to-sell-66-travelodgeLXi REIT plc to sell 66 Travelodge hotels for €245.7m

   europe-re.com › lxi-reit-plc-to-sell-66-travelodge

   • Cached

   Jan 8, 2024 · LXi REIT plc has exchanged contracts unconditionally on the sale of 66 Travelodge branded hotels to the Travelodge group for €245.7m, which is in line with the latest (30 September 2023) book value.

9. www.londonstockexchange.com › news-article › LXIPotential sale of 66 Travelodge hotels - London Stock Exchange

   www.londonstockexchange.com › news-article › LXI

   Nov 21, 2023 · The Company notes recent press speculation and confirms that it is under offer, and in solicitors' hands, on the sale of 66 Travelodge hotels for a combined sum of £210 million, which is in line with current book value (as at 30 September 2023).