Travelodge buys Purple hotels out of administration
The leases on the three properties located at Sheffield Meadowhall, Derby and Tewkesbury, will transfer to the Travelodge brand imminently and the hotels will continue to trade with all 72 employees moving to the budget chain.
The conversion of these existing hotels with bring the budget chain’s 2009 openings to date to seven and will mean 17 going concern hotels have been converted to the Travelodge brand in the last 17 months.
Paul Harvey, Travelodge’s managing director of international and development, said: ‘All three of these properties are great additions to the Travelodge brand and represent over 10% of our 2009 room target. The current economic climate lends itself to very competitive property prices and we are currently adding one going concern hotel to our brand every month.’
The deal to sell the hotels was put in place by BDO Stoy Hayward, the administrators of the Real Hotel Company, which owned the three hotels.
Shay Bannon, business restructuring partner at BDO Stoy Hayward said: ‘We are still working to actively market the remaining hotels in the group for sale with a view to achieving a successful outcome.’