UK budget hotel chain Travelodge gets nearly half its debts written off
- Aug 19, 2012 5:55 am
Travelodge now has a shot at turning around its business, but the chain’s landlords are concerned about the company’s additional plans to find new operators for almost a tenth of its hotels.
— Samantha Shankman
Hotel chain Travelodge has agreed a deal to cut its debts substantially, which it says will secure the long-term future of the business. Some £235m of bank debt will be written off, helping to cut the total to £329m.
The Skift Daily newsletter puts you ahead of everyone about the future of travel, subscribe.