Following the successful completion of its financial restructuring and CVA in October 2012, Travelodge was working with the landlords of 49 hotels to spot new operators.
Further to this process, Travelodge today announces that it has signed a brand new franchise contract for seven hotels with Moto, the UK’s largest provider of motorway service areas.
In addition, Travelodge has also signed franchise contracts with individual operators for 13 other hotels.
Under the terms of the franchise agreements, the hotels would be transferred to new owners but will remain operated and managed by Travelodge.
The new owners shall be liable for fully refurbishing these properties based on Travelodge’s new room design and refurbishment programme which was launched earlier this year.
Travelodge also announces today that it has transferred 18 hotels and the vast majority of staff to new operators; together with: Best Western, Ibis and Metro Inns.
Existing bookings at these hotels have either been transferred to adjacent Travelodge hotels or might be honoured by the hot operators.
Four of the properties under new ownership might be re-opened as new businesses.
Two properties are being converted into student accommodation and the opposite two properties are being converted into an events and meeting rooms venue and staff accommodation for JCB.
Travelodge will continue to work closely with the landlords of the remainder 11 hotels to locate suitable new operators and meanwhile these hotels will continue to function under the Travelodge brand as normal.
Commenting at the announcements, Travelodge chief executive Grant Hearn, said: “It is excellent news that we have got been capable of finding new operators and introduce franchise contracts for almost all of those hotels.
“We were always confident that we might secure a future for these properties and the deals that experience taken place just demonstrate the massive strength of the Travelodge brand and the success of our operations model.”