Hotels & leisure news
Travelodge hires new property director
Travelodge has appointed Steve Bennett as its new property director.
Safestay reports revenue increase of 26% for 2019
Hostel operator Safestay saw its revenue jump by 26% last year, but recorded a loss before tax of £0.6m.
Cineworld secures financial breathing space as it gears up to reopen sites
Cineworld has secured a waiver on loan covenant and agreed $110 (£89.7m) of extra liquidity through an increase in its revolving debt facility.
Travelodge landlords eye up alternatives
A business representing the landlords of almost 400 Travelodge hotels is putting together a list of alternative options for landlords should the hotel operator decide to undertake a CVA.
Whitbread gets green light to rebuild popular Bristol hotel
Premier Inn owner Whitbread has secured planning permission to rebuild its Cribbs Causeway property after a fire in July 2019 damaged the 177-bedroom hotel and restaurant.
UK’s top hotel groups have 44% more debt than during credit crunch
The UK’s top 30 hotel groups have debt levels 44% higher than they had during the credit crunch, making it more challenging for the sector to weather the Covid-19 storm without help from the government, according to law firm Boodle Hatfield.
Travelodge’s biggest landlord offers alternative plan to avoid CVA
One of Travelodge’s biggest landlords is gathering support for an alternative payment plan in an effort to stop the operator going through a CVA process.
