Firm’s £40m Travelodge purchase is first such deal since third runway confirmed.
The Saudi-backed company has completed on a deal to buy the 296-room hotel from Aberdeen Standard Investments at a yield of around 5%.
The hotel is already one of the best performing in Travelodge’s portfolio but it is set to benefit further from an anticipated spike in passenger numbers at Heathrow when the new runway is built.
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