Finance

Secure Income REIT sticks with Travelodge despite offers for hotel portfolio

By 2020-10-23T07:29:00

Travelodge

Source: Flickr / Elliott Brown / Creative Commons

Secure Income REIT (SIR) opted not to exercise its break options to terminate its leases with Travelodge, following the hotel group’s recent company voluntary arrangement (CVA).

In a statement to investors Nick Leslau’s investment group said it will maintain the current arrangements following the CVA, whereby the leases of its 123 hotels portfolio remain in place on the same terms and conditions, with a short term reduction in rent.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue