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- As announced on 22 November 2023, the majority of the sale proceeds will be used to pay down debt, reducing Group LTV to 34% from 38% and reducing Travelodge's proportion of Group rent to 11% from 18%.
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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.
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.
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).
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,...
- Paul Norman
Nov 22, 2023 · LXI REIT is close to selling a portfolio of Travelodge hotels for £210m. The deal is under offer, with contracts in solicitors’ hands, on the sale of the 66 Travelodge hotels. The sale price of £210m is in line with current book value (as at 30 September 2023), the company said.
Jan 8, 2024 · LXi REIT plc, on Monday, announced that it has exchanged contracts unconditionally on the sale of 66 Travelodge branded hotels to the Travelodge group for £210 million, which is in line with the latest book value as of 30 September 2023.
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.
