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Investors eye up Travelodge
Tuesday, 20 Feb, 2012
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Investors are looking at budget hotel chain Travelodge over claims the company is struggling with debt.
It has six weeks to raise £60 million or could face administration, reports the Sunday Times.
Two New York hedge funds, Avenue Capital and Golden Tree Asset Management are expected to step in with the money in return for control of the business.
Although the hotel chain, which is owned by Dubai International Captial, is said to be trading well, bankers say it is struggling with debts from the buyout boom.
Travelodge announced in December last year that it had agreed deals on 44 new properties and has added 146 new locations to its wish list, see previous story.
Diane
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