• Occupancy up for Travelodge

Budget operator Travelodge pushed revenues up 6% to GBP337.3m in the first half. A 2.4% improvement in occupancy offset softer room rates, edging revpar up 0.6%.

The company opened 10 more hotels, taking its portfolio to 584 properties. A refinancing in July lowered the average cost of debt, resetting its maturity for 2025.

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