• Issue 1043

GBP500m Travelodge deal

 

A portfolio of 144 Travelodge hotels has been sold to a trio of investors for an estimated GBP500m. The buyers are Goldman Sachs, Avenue Capital and GoldenTree Asset Management, reports the London Times.

 

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Sunny June for UK hotels

 

Hotels in the UK enjoyed a bumper July, helped by sporting events including the Commonwealth Games and Open golf. Occupancy improved 2.8% while rates rose an average 11.7%, report consultants BDO.

 

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Brehon bags further Irish hotel

 

Investors Brehon Capital Partners and Midwest Holding have bought the 141 room Killashee House Hotel in Ireland. The EUR13m purchase is the fifth hotel investment Brehon has made recently in Ireland, reports the Irish Times. 

 

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Minor Africa bid

 

Thai management company Minor has signed a deal to convert eight African hotels to its Avani and Anantara brands. The joint venture with local partner Sun International sees Minor investing USD63.9m in part owning the hotels. 

 

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China push for Choice

 

Choice Hotels has signed a development agreement to add 30 hotels in China over the next five years. The deal via the group’s Australian arm, with Boli Hotel Management of Hangzhou, will create new build Clarion and Quality branded properties. 

 

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